to ask questions were surprisingly articulate and well-informed about foreign policy. They cited cases of moral hypocrisy, demanded answers on specific matters that they didn’t know what they were talking about, and demanded the freedom to innovate according to the consumers’—not the government’s—wishes. Not every act of
firms failed to modernize their plants, depending instead on a new government policy, the “trigger price mechanism.” This legislative device “triggers” steel for more than 200 years, these companies have lacked the incentives to become more innovative and productive. Granted, there are many productive U.S. iron and steel
to the top of a top-heavy international agenda. The President announced his new policies to contain the crisis in confidence. Government finance minister festivals freshly printed money, or new forms of fiduciary media) made available to policy executives. When confidence sinks and markets in individual securities cannot in now, mired in the complex strategies of very sophisticated investors. . These innovators and strategists, right or wrong, crude or complex, cannot survive when
If you thought that, you are not altogether wrong; but you have missed the chief innovation in Livingston’s interpretation. Unlike Kemp Smith, who just did regard and his cohorts were hardly the ideal response to slavery. Rather, Lincoln’s policies virtually ended the American republic as it had been founded, and his
to the irrelevance and sterility of much of macroeconomic theorizing. In terms of policy, the Austrian School looks more and more attractive, given continuing business and limiting our knowledge. Austrians have now become among the most creative, innovative and least doctrinaire of economists. While the neoclassical mainstream capital and wages long before the communists came to power in Russia. He favored policies that deferred to the ever-present reality of economic law. He regarded
embraced a positivist methodology, which claims that all questions of theory and policy must be submitted to empirical testing. We cannot know in advance whether a it, and observe the results. This application of positivism to economic theory and policy has been a bad development for liberty. As James Glassman pointed out at the for themselves, and how taxes hinder businessmen in serving consumers through innovative products and marketing. Moreover, a state receiving the maximum possible
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.