The Nobel Committee has selected Vernon Smith for its economics prize. Smith was strongly influenced by Ludwig von Mises' treatise, Human Action, and for that Austrians can be grateful. Furthermore, Smith's research has demonstrated time and again that the Austrians are correct regarding human action in the marketplace and the mainstreamers are flat out wrong.
Gene Callahan superbly executes a very difficult task. Wittgenstein famously said, "whatever can be said, can be said clearly"; but does this apply to economics?
This is the last formal lecture by Ludwig von Mises delivered May 2, 1970 at an economic seminar in Seattle, Washington.
Even apart from Hans Hoppe's policy prescription--that private ownership ought to characterize all of society, economy, and government, while all public ownership should be banned as a form of theft--his thesis offers a highly fruitful framework for understanding everyday political affairs. Jeffrey Tucker explains.
Mainstream economists are especially critical of Austrians for their lack of desire to incorporate mathematics in general, and multivariable calculus in particular, into their economic analysis. The criticism goes something like this: It does not matter whether or not mathematics is the most appropriate tool to describe economic human action. What matters is that most economists do use math, it has passed the "market test," and, therefore, it is the correct tool to use.
Like Gilbert Ryle, under whom he studied at Oxford, Antony Flew is ever alert to "systematically misleading expressions." Flew’s careful attention to the nuances of ordinary language, on full display in the present book,
Professor Kirzner’s outstanding book "aims to present, in briefest outline ... the story of Mises in his role of economist" (emphasis removed). In this task, it is eminently successful.
Professor Reisman centers his enormous book about a key insight: It is capitalists who run the capitalist system. (He has been greatly influenced by Ayn Rand,
In 1940, Mises set out to explain the errors of "middle-of-the-road" policies. He ended up writing the history of the next ten years before they occurred. Robert Murphy is the reviewer.
In a masterly essay included in The Driving Force of the Market, Israel Kirzner asks whether Hayek can best be seen as a hedgehog, who sees one big thing, or as a fox, who sees many things.
