“Liberty Leading the People” (1830) Eugène Delacroix (1798–1863) Entrepreneurship is a building block for economic development. Individuals who invest and invent are instilled with a passion to create wealth. The integral role played by entrepreneurship in economic and human development is almost universally accepted. The main point of contention
With the United States and much of Europe buried in public debt, many wonder how world governments will solve their impending budgetary crises. The economics profession has split into two camps: those who promote more spending; and their opponents, the “deficit hawks.” The spenders have been the more vocal, largely due to their dominance in
Brad DeLong comments on Ron Paul’s (and Mises’) views on monetary expansion, inflation, and the business cycles, showing (once again) a complete lack of understand of Mises’ argument. I am bit hesitant to comment on the Mises blog, given that few readers here probably even care about what DeLong has to say. But, to me it is amazing that an
If you have not read Peter Boettke’s review of Tyler Cowen’s The Great Stagnation , I suggest doing so. I have not yet read Cowen’s book, so I cannot personally attest to how accurately Boettke interprets Cowen’s message, but I think there is a lot to agree with in what Boettke himself writes in his examination. Certainly, that government spending
David Glasner attempts to defend central bankers from the accusation of being central planners. He does so from a distinctively Misesian perspective — or, at least, that is his intention. But, he mistakes Mises’ definition of socialism as a definition of central planning, where the former suggests the collectivization of the means of production
Someone left a comment on one of the articles making the claim that the United States is no longer a manufacturing economy, having transitioned to a service sector oriented economy. The statement is half right. While the U.S.’ service sector has grown, and this is not a bad thing, so has the manufacturing sector. Here is a graph showing an
The Ludwig von Mises Institute of Canada re-publishes my review of Jeffrey Friedman’s and Wladimir Kraus’ Engineering the Financial Crisis . I call the book “undoubtedly one of the best books written yet on the causes of the Great Recession” — simply stated, there are few scholars who have done the amount of historical research Friedman and Kraus
[ Disclaimer : The following post reflects my views on the subject, and they should not be confused for anybody else’s. Related blog posts: Coordination Problem, “ Mises and Hayek Cited... “; Gene Callahan, “ Is It OK... “] Libertarianism is not a violent political philosophy. Yes, libertarianism is anti-state (or, at least, calls for a radical
During Robert Murphy’s Keynes, Krugman, and the Crisis lecture, yesterday evening, one of the attendees asked what about John Maynard Keynes’ General Theory made it so popular amongst academics. Similarly, another student asks in ‘questions for the professor’ why there was not as large of a recoil against Keynes’ book as one might have expected.
[Basado en las notas de una conferencia dada por el autor a Young Americans for Liberty en la Universidad de California, San Diego, el 4 de mayo de 2010] La jurisdicción de la economía se extiende mucho más allá del estudio de la producción y el consumo de bienes y servicios. La ciencia de la economía consiste en el estudio de la acción,
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.