Last night CNBC premiered “ The Bubble Decade ” with host David Faber looking back at the three boom-and-bust episodes of the past 10 years–tech, real estate and private equity. It will replay Sunday and no doubt many more times in the coming weeks and months. Leaving aside the analysis at the end, the program is quite good. No, the Austrian
The same week that MGM’s $8.5 billion CityCenter is unveiled, the Sahara Hotel has closed two of its hotel towers for the holidays due to low demand . This closure comes on the heels of Binion’s closing its 365 rooms downtown. October marked the 22nd straight month of declining gaming revenues in Nevada and was the lowest single-month figure since
With the great bursting of the real estate bubble in 2008 the federal government is reforming and expanding its regulatory oversight in hopes of legislating away booms and busts. Recent decades have featured a series of speculative manias, followed by harrowing financial busts, with central banks applying the same tonic — a flood of monetary
[Book Review: The Case Against Adolescence: Rediscovering the Adult in Every Teen by Robert Epstein • Quill Driver Books • 2007 • 490 pages] In his book, Democracy: The God that Failed , Hans Hoppe argues that democracy and government have made people less farsighted and not as concerned with providing for ever-more-distant goals. Thus, society is
Hustler magazine’s Larry Flint With the federal government ladling out billions in bailout money to the financial and auto industries, a number of businesses now have their hands out. Home builders, retailers and commercial real-estate developers all want a piece of the bailout pie. Not like there is an existing warm pie cooling on the window sill
[This article is the introduction to Doug French’s new book Early Speculative Bubbles and Increases in the Supply of Money .] As all the world economies writhe in financial pain from the cleansing of the largest bubble in financial history, the same question is being asked — how could this happen? Of course the usual answers are trotted out —
[This review originally appeared on LewRockwell.com.] Libertarians tend to be an intense lot. After all, with government making a mess of things economically and constantly infringing on our freedoms, what is there to laugh about? It’s a full-time job being outraged. Who has time for anything else? But the dictators and their apparatchiks come and
Democracy spoke loudly last November with voters putting Barack Obama in the White House and providing Democratic majorities for Harry Reid and Nancy Pelosi to preside over. After eight years of George W. Bush, American voters wanted change — so we heard over and over again. But after the first 30 days, with plenty of crisis to fix, the Obama
New president Barack Obama’s $3.55 trillion budget serves notice that if you thought government couldn’t get any bigger or more intrusive, think again. The budget “represents real and dramatic change,” according to the President. But really the Obama plan is just more of the same, with the federal government expanding its role in education,
“We’re All Keynesians Again” shouted the Wall Street Journal ‘s opinion page recently. The collapse of the financial markets and the subsequent recession, depression, banana, or whatever you want to call it, has the intelligentsia screaming for government money as prescribed by John Maynard Keynes so many years ago. And what with all college
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.