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January 24, 2007
President Bush announced in his State of the Union address that Americans should reduce gasoline usage by 20 percent over the next 10 years. But how will this be achieved?
With or without government
In 1931 Harold Hotelling published a…
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December 4, 2008
Friedrich Hayek wrote of the importance of what he called the rule of law over the rule of man. His point was that in order to be free to act according to our own plans we must know what the rules of the game are, for what reason they are…
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October 8, 2008
Ludwig von Mises in a classic 1927 book, Liberalism, wrote that government intervention in markets would lead inevitably to unintended consequences that resulted in further government intervention.
The current financial difficulties are…
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August 27, 2008
Often we see headlines about inflation and hear financial analysts commenting on it. “Good Morning America’s” Chris Cuomo warned on August 21 that “America is waking up to nationwide sticker shock, an unexpected spike in inflation now at a 17-…
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July 16, 2008
Politicians and pundits are crying about the economy, from oil prices to housing and the U.S. dollar. But they rarely pause to consider how we arrived at our situation, as they call for more government help and often for the Federal Reserve to…
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May 21, 2008
The $307-billion, five-year farm bill recently passed both houses of Congress with more than the two-thirds majority necessary to override a presidential veto. The Cato Institute has estimated that the last 20 years of farm programs have cost…
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April 9, 2008
Candidates for president of the United States are being judged on their “plans” for the economy, health care, retirement, housing, etc.
However, in 1920 the renowned Austrian economist Ludwig von Mises published “Socialism,” in which he…
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February 27, 2008
Some in the media try claim that we are in the beginnings of a recession in an attempt to make the case for larger government intervention in the economy. It is instructive to consider an era when there was a truly severe economic downturn, the…
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January 23, 2008
Amy Robach, a daytime anchor at MSNBC, recently reported on the “Today” show that “everyone’s talking about a recession.” The Business and Media Institute found that the broadcast media mentioned the economy or a recession in 54 stories during…
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November 11, 2009
In a recent Newsweek article, senior editor Michael Hirsh quoted Larry Summers who said: “Large swaths of economics are going to have to be rethought on the basis of what's happened.” Summers is correct that the recent credit crisis and recession…
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