The Misesian
Author:
Jörg Guido Hülsmann
Online Publish Date:
eventually conveys gratuitous benefits to the ultimate consumers, whereas the innovators benefit only temporarily (although it is true that Bastiat’s work was economics of gratuitous goods led to justifications for interventionist economic policy? JGH: There are here two issues of paramount practical importance. Both spring from bad economics and have led to disastrous policies. The first one is the theory of externalities. In Human Action , Mises