as substance, the book is McCloskey’s. McCloskey is one of the world’s leading economic historians, especially well known for her work on the nineteenth-century Enrichment has spread all over the world, including to China, but high economicgrowth there has not been accompanied by political liberalism. This is not merely a
awarded the 19th annual Hayek Book Prize by the Manhattan Institute. Given the economic events that have unfolded since 2008, a history of interest rates from an rates) so that sector will liberally grant credit to the real economy to fund real growth initiatives. That is not what has happened since 2008; instead, the new money
is a best seller as well, should be a warning to all academics: do not write about economics or the history of modern Europe if you are ignorant of these subjects. to be cautious. It does not encourage confidence when they tell us “Teotihuacan’s growth to urban dimensions began around the year 0.” You might have expected that In these lectures, he developed this argument into an explicit theory of stages of economic development; social evolution, he reasoned, always begins with hunters, then
they need to keep in mind that most people won’t take a class or read a book on economics. I can clear a crowded room just by mentioning economics. But they do read about 25 percent of voters. So, any plan to change the direction of the country’s economic policies requires reaching them. Watkin, a lecturer in French studies at and limitless profit that become necessary for the maintenance of economicgrowth and that issue in increasing wealth for some and increasing inequality between
system was engendering. The deficit would come to an end, as would the arbitrary growth of government credit. (p. 165) Rueff’s steadfast defense of the classical gold standard set him at odds with Keynesian economics, and Rueff proved equal to the challenge. He developed a penetrating
2020, 224 pp. Jörg Guido Hülsmann (guido.hulsmann@univ-angers.fr) is Professor of Economics at the University of Angers. Pascal Salin is one of the most important Salin argues that an economy starved of savings suffers from low or negative growth rates. As a consequence, political leaders are tempted to replace savings by cheap credit out of the printing press, which in turn makes the economy prone to economic crises. In chapter 7, he presents a general conception for tax reform, very
are malinvestment, waste, a wanton redistribution of wealth and income, the growth of speculation and gambling, immorality and corruption, disillusionment, it could never work. (emphasis added) Keynes made similar observations in The Economic Consequences of the Peace , Chapter 2, “Europe Before the War,” though he
by deduction from the concept of action and by doing so arrive at the laws of economics. Not so Piketty: for him there are no laws of economics. “There is no sin and must be radically curtailed. He doesn’t deny that capitalism results in economicgrowth and an enhanced standard of living, but the income and wealth of the rich have
Oppenheimer or Albert Jay Nock on the distinction between the political and the economic means. Stiglitz does spoil things a little when he says later on that “the fails to conform to the requirements of this model. For example, he holds that the growth of knowledge, infrastructure, and even charitable help to the poor are “public
the contrary, they sometimes become large by giving consumers what they want: The growth of Walmart provides us with an example of efficient concentration. Its profit inefficient because tax breaks create distortions in the allocations of economic resources, and because someone else must then pay these taxesYou might
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.