This is rich. Brazilian central bank employees have gone on strike to press for a 23 percent wage increase to compensate for inflation that has taken place since June 2008. HT to Mark
In the next issue of the Quarterly Journal of Austrian Economics , we feature a symposium on Towards a Pedagogy of Austrian Macroeconomics. The symposium originated from a session of the same title that was held at the Southern Economic Association meeting in November 2005 in Washington, D. C. The session emerged in response to widespread
Although an increase of the minimum wage cannot be directly passed on to consumers, it certainly will have indirect effects that reduce consumer welfare. First, since fewer laborers are now employed, aggregate production will be reduced and overall prices rise, driving down real wages and incomes of consumers. Second, and perhaps more importantly,
Last night Rutgers University, where the first college football game was played in 1869, won the biggest game in its history and the biggest college game in the NY metropolitan area since the Army-Notre Dame showdowns at Yankee stadium in the late 1940’s. Since the stadium is 10 minutes from my home and I received my Ph.D. from Rutgers, I have
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.