was adopted, political groups have sought to yoke the free market to a program of economic nationalism and governmentally directed growth. Alexander Hamilton, Henry Clay, and Abraham Lincoln rank as major names in
Chancellor on January 30, 1933, people did not know what to expect as regards the economic policy of the new regime. There were disturbing signs that the National of Marxio-Sombartian premisses with regard to the death of individualism, growth of mass production, collectivism, etc., and from these the natural conclusion
Science Bibliographical Essay Bibliography Notes The Austrian School of economics arose in opposition to the German Historical School; and Carl Menger and eighteenth centuries, the so-called Cameralists. They were less interested in economic theory than in the advancement of the power of the state, particularly the skepticism about the future just attributed to him. Hegel’s law of history as the growth of freedom was a description of the past. He did not attempt to forecast
which order has been preserved and trade promoted: “By creating order over a large economic space, empires have inevitably generated [Adam] Smithian intensive growth“ (p. 43). Applied to the present, Lal’s argument becomes this: International
By Paul Krugman. W.W. Norton, 2007. 296 pages.]Like him or not, Paul Krugman is an economic theorist of distinction, a winner of the John Bates Clark Medal, and often have come to dominate the Republican Party. The result has been disaster. Economicgrowth has slowed, and the benefits of the increase have gone almost entirely to the
the New York Review of Books and a fellow of the New School’s Schwartz Center for Economic Policy Analysis. Alas, Jeff Madrick is out of luck. His book rests on a in the post–World War II years that economic intervention did not impede economicgrowth? At most the statistical evidence shows that intervention was not immediately
us a devastating account that covers the full range of the Obama Administration’s economic policy. Readers stirred to anger by the simpleminded statism of Paul Krugman Did we not then see very high tax rates together with high rates of economicgrowth? “In the 1950s incomes in the top bracket faced a marginal tax rate of 91,
John Stuart Mill on the Civil War is especially well done. Anderson, Benjamin. Economics and the Public Welfare. Anderson, a free-market economist who worked for rights on grounds of knowledge, interest, and power. Bastiat, Frédéric. Economic Sophisms. This includes some of Bastiat’s classic satirical essays attacking expert on development economics, shows that state planning hurts economicgrowth. Planners characteristically ignore small traders, whose activities are vital.
in millions of people. (p. 127) Interventionism fares no better: The two issues of economic planning and the rule of law are inseparably connected for Hayek. He sees drastic interference with liberty, in the name of restricting population growth. He conjures up a frightening picture of an overcrowded planet, dismissing
with his latest book. The public today looks for an explanation of the current economic crisis and a prescription for recovery. Conflicting accounts abound. Should (p. 67) The extent that they are willing to do so determines the rate of economicgrowth. The preference people have for the present forms the main part of the rate of
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.