Every so often, I check my investment portfolio to see how it is doing. (I stay out of stocks these days, but that is due to my personal situation and is not to be taken as investment advice.) Portfolios are collections of various financial instruments that one is holding, and one always hopes that their value will head in the right direction over
Paul Krugman seems to have a very unhealthy obsession with Austrian economics and especially the school’s theory of the business cycle. More than two decades ago, he attacked it ( wrongly calling it a “Hangover Theory” and trying to make a morality play out of it), claiming it had the credibility of the “phlogiston theory of fire.” Not
Economists and pundits mistakenly call the Federal Reserve System’s security holdings a portfolio. It is anything but. Original Article: “The Fed’s Portfolio Is Nonexistent: The Fed Does Not Invest. It Destroys Investments” This Audio Mises Wire is generously sponsored by Christopher
Paul Krugman is now claiming that reopening the economy and allowing people to go to work almost surely will cause a depression. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros . Original Article: “ Krugman: We Need More Unemployment—to Save Us from Unemployment
The Free Market 20, no. 11 (November 2002) As the markets continue to wallow in bear territory, and as consumer—and, more important, investor—confidence falls, writers and commentators of all stripes have weighed in to give their two cents’ worth concerning the key question: who or what is at fault? Not surprisingly, Democrats have
The Free Market 23, no. 7 (July 2003) No one can argue about the current moribund economy, complete with falling stock prices, nonexistent profits, layoffs, airline bankruptcies, and exploding federal and state budget deficits. People certainly have argued about the cause of this downturn, but few people have accurately pointed out why there is
The Free Market 18, no. 8 (August 2000) The president of the United States was ecstatic. Never had economic prospects in this country looked better. Unemployment was at its lowest level in years, the rate of inflation was relatively low, and the economy had grown continuously for almost eight years. No doubt, said the experts, this country was
The Free Market 19, no. 6 (June 2001) Myths are myths, whether told by storytellers or by Tom Brokaw on NBC Nightly News . Brokaw has recently taken to telling his viewers that the consumer is spending enough to prevent a recession. The reasoning goes as such: Confident consumers do not fear the future, which means they spend almost all (if not
The Free Market 20, no. 2 (February 2002) Economists are fond of writing open letters to politicians in attempts to lead them down “proper” policy paths. In 1930, a thousand economists signed an open letter to President Herbert Hoover asking him not to sign the infamous Smoot-Hawley Tariff. Hoover signed it anyway, creating one more disastrous
Abstract: Economists have tried to explain business cycles as well as fluctuations in the economy, but over the past two centuries, the explanations have fallen into two areas. The first area tries to explain business cycles as being the result of fluctuating aggregate demand ; if overall demand for goods is strong (or to put it another way,
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The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.