[ Free Market , June 2012. You can subscribe by becoming a member .] One hundred years ago, Ludwig von Mises’s The Theory of Money and Credit was published. Because this was Mises’s first great contribution to human understanding, we should also celebrate this year as the centennial of the start of his career as a creative genius on the world
If there was any doubt that Ron Paul was not going to win the Republican nomination for the presidency, it was undeniably removed when on Tuesday Mitt Romney received the 1,144 delegates needed to clinch it. Does that mean Ron Paul failed? No. It is an open secret that the campaign was really about education all along. And in that regard, Ron
Steven Horwitz has an essay up at Cato protesting that, contrary to common perception, “modern” Austrian economics is actually very empirical. Much of his argument stems from his treatment of economic history as being a subset of economics , in stark contrast to Mises’s position that There is economics and there is economic history. The two must
Imagine a world in which the works and ideas of Ludwig von Mises had been neglected and ultimately forgotten. The socialist-calculation argument, the Austrian theory of the business cycle, praxeology: each nothing more than a footnote in the history of economic thought. Imagine a world in which the only Austrian economists were a handful of
Another hurricane strikes, and, as always, it has been followed by another round of pundits proclaiming that it will boost the economy. The broken-window fallacy lives on. But with the lessons contained in the following resources, you can easily blow down the fundamentally flimsy arguments of the hurri-Keynesians. This short film, created by
A certain line of thinking is all too prevalent among liberty-minded Americans. It runs as follows: “Candidate X may not be perfect, but he is better on domestic economic policy than candidate Y, and that is obviously what matters most for liberty.” This way of thinking underlies “libertarian” endorsements of candidates such as Mitt Romney, and it
In 2009, Lew Rockwell posted this quote of Paul Krugman’s from a 2002 New York Times editorial : To fight this recession the Fed needssoaring household spending to offset moribund business investment. [So] Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble. Krugman. 2002. Calling for a housing bubble. What’s more, by
[ Editor’s Note: This article is adapted from a talk delivered at the Mises Institute’s seminar “ Inflation: Causes, Consequences, and Cure .” ] In the denouement of the film There Will Be Blood , the antihero Daniel Planview dramatically reveals to his nemesis that he has secretly siphoned away all of the latter’s underground oil. “Drainage!” he
Lew Rockwell wrote: Thanks to Bud Bronstein for this piece by Kate Zernike from the NY Times , “Movement of the Moment Looks to Long-Ago Texts.” Catch the ideological presentism. Instead of just reading the latest approved tomes and today’s issue of the Times, people are learning from “obscure” old books by dead people. The Tea Party “has
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.