Everyone knows that Thomas Edison was the inventor of the light bulb, but few people are aware that he came up with an idea for a new monetary system. He was dissatisfied with the gold standard (under the National Banking Acts) and also with fiat paper standards. His system is described in a recent review of the book: In his system, government
Many marijuana issues were on ballots in yesterday’s election. Marijuana was legalized in Colorado and Washington. The city of Detroit passed a law decriminalizing marijuana possession. The state of Massachusetts passed a medical marijuana law. Several ballot measures involving marijuana were defeated, notably in Oregon and Arkansas. When my book
“Austrian School of economic thought gaining influence as nations tackle debt.” Mark Thornton, GP Manish, and Malavika Nair are quoted. “FASTEST-GROWING SCHOOL” Who are these people? These men and women, separated by geographies, living disparate lives and practising different professions, have been sharing mails, exchanging notes, meeting
Not only is he still alive but the Nobel Laurette is working on a new book and is starting a new journal. He recently published an article in the Harvard Business Review criticizing modern economics for not being realistic. Here is Murray Rothbard’s comments on Coase’s lectures. Go to page
The ECB has once again come to the rescue by cutting interest rates in order to forestall a collapse of the European economy. Also, in a “surprise” move, the Chinese central bank cut interest rates in response to a continuing slow down in economic activity. When the Skyscraper Index issued a European crisis signal last summer the European stocks
Let Me Google That for You, Paul By Mark Thornton Paul Krugman attacked Ron Paul, Paul Ryan, and “honest money” and also took a shot at Austrian economists on his blog recently. He called honest money a “Ron Paul dog whistle” and then went on to query Austrian economists on their position on money-market mutual funds (MMMF). He doesn’t expect a
You might have the impression that everyone has switched from beer to red wine, or that everyone has switched from Budweiser to microbrews, homebrew, and high-gravity beers. However, do not count out the good old American cocktail. It is true that beer has lost market share and wine has gained market share, but by far the biggest winner in recent
[An MP3 audio file of this article, narrated by the author, is available for download .] The senseless Batman killings in Aurora, Colorado, as well as those that occurred years earlier in Columbine a few miles away, have something in common with the number one cause of overdose deaths in the United States and an important potential cause of teen
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.