Paul Krugman is very upset. In his Monday New York Times Op-Ed column this week , he complains that while the real incomes of the great majority of Americans have essentially stagnated or declined over the last thirty-five years, “income at the 99th percentile rose 87 percent; income at the 99.9th percentile rose 181 percent; and income at the
There are two fundamental views of economic life. One dominated the economic philosophy of the nineteenth century, under the influence of the British classical economists, such as Adam Smith and David Ricardo. The other dominated the economic philosophy of the seventeenth century, under the influence of Mercantilism, and has returned to dominate
This is a question that no one seems to be asking. And so I’ve asked it. And here, in essence, is what I think is the answer. (The answer, of course, applies to Ford and Chrysler, as well as to General Motors. I’ve singled out General Motors because it’s still the largest of the three and its problems are the most pronounced.) First , the company
Today, September 29, 2006 is the one-hundred-and-twenty-fifth anniversary of the birth of Ludwig von Mises, economist and social philosopher, who passed away in 1973. Mises was my teacher and mentor and the source or inspiration for most of what I know and consider to be important and worthwhile in these fields — of what enables me to understand
Summary Introduction The Economic World Today and in a Hundred Years ( Table 1 ) Ricardo to the Rescue: “Value and Riches, Their Distinctive Properties” The Contributions of Globalization: Extending the Division of Labor Globalization and Capital Accumulation Ricardo on Capital Accumulation: An Answer to the Fears of Capital Transfer ( Table 2 )
To the accompaniment of much fanfare and hoopla, the British government has released Sir Nicholas Stern’s Stern Review on the Economics of Climate Change , a report that it commissioned but that it labels “independent.” The report is a rehash of now standard environmentalist claims concerning alleged disasters that await the world if it continues
What is the Mises Institute?
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.