Abstract: China is currently the world’s largest installer of wind power. However, with twice the installed wind capacity compared to the United States in 2015, the Chinese produce less power. The question is: Why is this the case? This article shows that Chinese grid connectivity is low, Chinese firms have few international patents, and that
Consumers are indeed sovereign, but the reason consumers can exercise their sovereignty is that entrepreneurs have already borne the uncertainty of production to make the goods available for purchase. Original Article: “ How Consumer Sovereignty and Entrepreneurship Work Together “ This Audio Mises Wire is generously sponsored by Christopher
Healthcare is inaccessible in many ways, and it is notoriously inefficient. There is a fundamental misalignment between patients and the system. A new world of medical entrepreneurship is growing. Concierge and cash-only practices, walk-in cash clinics, medical tourism, and cost-sharing plans are just a few of the ways free-market approaches are
“Austrian economics is very much the economics of innovation, because we understand change, we understand uncertainty, and we understand that there is a constant search for betterment.” A new world of medical entrepreneurship is growing. Concierge and cash-only practices, walk-in cash clinics, medical tourism, and cost-sharing plans are just a few
Entrepreneurship is a general feature of the market economy. Download the slides from this lecture at Mises.org/MU21_PPT_04 . Recorded at the Mises Institute in Auburn, Alabama, on 19 July
The Henry Hazlitt Memorial Lecture, sponsored by Yousif Almoayyed. Recorded at the Mises Institute on March 19, 2021. Includes an introduction by Peter G. Klein. The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian School, bringing together leading scholars doing research in this vibrant and
Wherever two boys swap tops for marbles, that is the marketplace. The simple barter, in terms of human happiness, is no different from a trade transaction involving banking operations, insurance, ships, railroads, wholesale and retail establishments; for in any case the effect and purpose of trade is to make up a lack of satisfactions. The boy
Ought the state to support the arts? There is certainly much to be said on both sides of this question. It may be said, in favor of the system of voting supplies for this purpose, that the arts enlarge, elevate, and harmonize the soul of a nation; that they divert it from too great an absorption in material occupations; encourage in it a love for
The subject of the medieval period highlights the vast gulf that separates scholarly opinion from popular opinion. This is a grave frustration for scholars who have been working to change popular opinion for a hundred years. For most people, the medieval period brings to mind populations living by myths and crazy superstitions such as we might see
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.