Dr. Jonathan Newman and Connor O’Keeffe will host an in-person book club on Murray Rothbard’s The Betrayal of the American Right for Auburn University students. The meetings will be held weekly on Tuesday evenings at the Mises Institute (518 W. Magnolia Ave.), starting September 17th. In The Betrayal of the American Right, Rothbard recounts the history of the laissez-faire, non-interventionist Old Right and how it came into conflict with other factions throughout the 20th century, including the statist, war-hungry New Rightists at the National Review. Rothbard’s book is especially relevant today as many leading “America First” Republicans have embraced views that more closely align with the Old Right. Each student will receive a complimentary copy of the book.
Please apply for a position in the Mises Book Club by Friday, August 30. Decisions will be communicated to all applicants by Wednesday, September 4. The first meeting will be on Tuesday, September 17.
Publicity Waiver: Registering for this event gives the Mises Institute permission to take photos, record videos, and receive statements of and from attendees for promotional purposes. By this authorization, attendees understand and agree that no participant shall receive remuneration and that all rights, title and interest to the photos, videos, and statements and use thereof belong to the Mises Institute.
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Last week I posted something on how business confidence affects capital investment. Many factors may affect business confidence. The psychological mindset of business owners might change on its own. Public policies may affect business confidence too. Scholars at the University of Chicago developed an economic policy uncertainty index, which estimates our felt ambiguity regarding public policies1. The next graph depicts lagged effects of year over year changes in policy uncertainty on year on year changes in gross private domestic investment.As one might expect, higher levels of policy uncertainty correlate with lower levels of private investment (by 27%). Economic theory posits that fiscal and monetary policies work best when the public doesn’t know what to expect next.
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