a market economy. NU: Now, how do you connect these three dots: entrepreneurship, economicgrowth, and development of a country? PK: If we think of entrepreneurship in the
a market economy. NU: Now, how do you connect these three dots: entrepreneurship, economicgrowth, and development of a country? PK: If we think of entrepreneurship in the
struggling to decide whether the economy can tolerate higher underwear prices, as economicgrowth continues to wobble along rather than power ahead on a clear upward path. (A
journalist who produced 2011’s Keynes-Hayek: The Clash that Defined Modern Economics , an entertaining but ephemeral tale of Cambridge in the 1930s (here is sees himself as an important critic of “free-market orthodoxy,” but his grasp of economic theory, history, and policy is more than a bit muddled. His newest article , “whose pioneering work in econometrics led to the accurate measurement of economicgrowth.” Kuznets’s work was certainly pioneering, as in novel, but no respectable
The belief that war, and government spending more generally, fosters economicgrowth by spurring innovation is one of those fallacies that won’t die, no
great crashes of 1929 and 2008. In other words, inequality rose during the great economic bubble eras and fell thereafter. And what caused and characterized these be a “one time” event that won’t be repeated, but that will actually help economicgrowth by reducing economic inequality. This is all complete nonsense. Economic
is wrong with current theory in these fields? Peter Klein: Until the 1980s, the economic theory of the firm was a branch of neoclassical production theory. “Firms” both in theory and empirical work, on new firm formation, small and high-growth firms. Steve Blank might be one of the examples of this bias, defining a
have more debt than assets. We don’t need more debt, we need more employment and economicgrowth. And we critically need savings. That’s the engine of wealth accumulation. And
books of our time. Higgs demonstrates, in meticulous detail, how the growth of the American state in the twentieth century has followed a regular pattern: (and the much needed credit-market correction) to stoke public fear of a global economic collapse, all to bully opponents into supporting a major expansion of the
produce value? How can we tell? The more thoughtful responses try to apply some economic theory. Some economists say that government should not tax investment, only consumption, to encourage growth. Expenditures on graduate education (and education more generally) are
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.