March 1999 Issue

Volume 49, 1999

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cover image March 1999
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FEATURES

Mises on Mexico

"the problem of Mexico’s development was not capital scarcity, geography (which Mises judged favorably), climate, or geology, even though the soil “in the greater part of the country is dry and barren.” Development depends on the application of “an appropriate economic policy”; that is, a “wise” economic policy aimed at the “establishment of a durable system resulting in a continuous improvement of the nation’s well-being.”

- March 01, 1999

The Great Bequest

- March 01, 1999

Opportunities and Costs

Economics has been called the Dismal Science because it studies the most fundamental of all problems–scarcity. But if you eliminate scarcity, you eliminate the opportunity to choose among alternatives.

- March 01, 1999

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