The European Miracle was one in which humans achieved sustained growth for the first time on earth. Why Europe? Because of European decentralization and chartered towns arose. The freedoms that people fought for were primarily economic freedoms. Political freedoms followed. The middle ages were not the dark
[This essay originally appeared as “The Theory of Economic Development and the European Miracle” in The Collapse of Development on the indispensability of historical studies in understanding the phenomenon of growth (Walters 1989, 60; see also Dorn 1987). In canvassing the work of other
which, it insists, should be reduced to a minimum (Raico 1992, 1994). Austrian economics is the name given to the school, or strand, of economic theory that began with Carl Menger (Kirzner 1987; Hayek 1968), and it has theoretical connections between the denial of methodological individualism and the growth of socialism. Hayek (1955) assails “methodological collectivism,” with its
[This essay originally appeared as “The Theory of Economic Development and the European Miracle” in The Collapse of Development on the indispensability of historical studies in understanding the phenomenon of growth (Walters 1989, 60; see also Dorn 1987). In canvassing the work of other
Cannes, September, 1994. ] Bankrolling Adam Smith? Ronald Coase, Nobel Laureate in economics, relates an interesting incident highly revelatory of the state of mind of An enormous majority of Western intellectuals display and affirm hostility to the economic and social institutions of their society, institutions to which they give political system which provided the institutional framework for modern economicgrowth.” As a historian, he naturally stressed the crucial role of historical myths,
society to run itself — in religion, in thought and culture, and not least in economic life. The liberal slogan of laissez-faire, lais sez-passer, le monde va de the political spectrum, from conservatives to anarchists, were alarmed at the growth of the parasitic state. This was a problem that concerned also Karl Marx and
Germany and other European countries are also demanding better deals and opposing economic reforms. But the biggest battle in the struggle between government reformers at work, stiff firing restrictions clearly account for some of Italy’s lower job growth. It is not by chance that the most-productive areas of Italy (especially
has been called “the European miracle” — that is, the breakthrough to sustained economicgrowth that has characterized Europe and its offshoots around the world, including
they sought to direct religion, culture, politics, and, especially, the economic life of the people. To support their burgeoning bureaucracies and constant role that religion, separated from government power, could play in stemming the growth of the centralized state. In this way, they prepared the ground for the
“rent-seeking” constituencies, i.e., those who use the state to enhance their economic position. In order to gain power, these leaders revised the liberal program social and political development, which pointed steadily in the direction of the growth of state intervention in the economy, and of state responsibility for the
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.