Foundation for Economic Education founder and cornerstone Leonard Read always had an ear out for widely accepted but misleading clichés that served to aggrandize government power and limit liberty. In his 1965 “ A Cliché of Socialism: Under Public Ownership, We the People Own It! ” He focused his attention on the large gap between public ownership
The labor theory of value has long undermined people’s understanding of the miracles created by markets and rationalized various incarnations of socialism which mangle those miracles. Leonard Read understood why undoing that misunderstanding by all who hold to it, as well as those who just use it as an excuse for what they want government to
I have taught economics long enough that I have made use of a variety of “trick” questions in introductory courses. I have found them, used well, to be pedagogically helpful. But not everyone agrees. Whether a question is considered a trick depends on one’s viewpoint. From a professor’s point of view, such questions are often a way of revealing
Thanksgiving plays an important role in Americans’ views of ourselves and our heritage. The mere fact that it is time off from work and school cannot by itself explain how many travel to be with those they care about to celebrate. But our understanding does not extend very deep, because the Pilgrims started from a communal or communist system, and
It is commonplace to hear about how much more we know than our ancestors. And many have long taken that to imply that we are more advanced than they were, or that the accumulation of knowledge will continue to improve (progress, if you claim to be a progressive) over time. However, while that is undeniable in some areas, the opposite might be
I just came across and article which reminded me that this November 16 was the 15 th anniversary of the death of Milton Friedman, one of the past century’s greatest advocates of freedom. As someone who has followed his writing for most of my adult life, I can barely believe he has been gone that long. On the other hand, the abyss between the
In my industrial organization course, I discuss the economic theory of the firm. It is important in that there are many ways real world firms don’t correspond to the way they are presented in microeconomics models. When dealing with differences between the assumptions or implications of a microeconomic model or analysis and the real world, I have
As someone who teaches public finance (better termed the economics of government), I can’t count how many times I have heard politicians promise “comprehensive” reforms to some major problem. But what such efforts actually produce is always different from what is promised, because such achievements are beyond government’s competence. The more
Have you ever thought about the relationship between the words liberty and freedom ? Frequently, the words are used interchangeably, but I have always preferred liberty . Perhaps my preference goes back to Thomas Jefferson’s reference to “life, liberty, and the pursuit of happiness” in the Declaration of Independence. Perhaps it traces to Patrick
Besides using bipartisan comprehensive political reform as a cover for evasion and extortion, the many political abuses of posturing, window dressing, and maneuvering enabled do not exhaust the problems involved. Those problems are, instead, far more comprehensive, especially when it comes to the amount of usable information that is accessible,
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.