After decades of financialization and government favors, Wall Street now has little to do with free, functioning markets anymore and has largely become an adjunct of the central bank. Today, entrepreneurship is out, and bailouts are in.
Additional Resources
“Financialization: Why the Financial Sector Now Rules the Global Economy” by Ryan McMaken: Mises.org/RR_52_Article
“Monetary Policy and Inequality” Karl-Friedrich Israel: Mises.org/RR_52_Video
“Speaking Truth to Monetary Power” by Lew Rockwell: Mises.org/RR_52_Article2
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
The Mises Institute exists to promote teaching and research in the Austrian school of economics, and individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. These great thinkers developed praxeology, a deductive science of human action based on premises known with certainty to be true, and this is what we teach and advocate. Our scholarly work is founded in Misesian praxeology, and in self-conscious opposition to the mathematical modeling and hypothesis-testing that has created so much confusion in neoclassical economics. Visit https://mises.org