Philosophical and Ethical Implications of Austrian Economics
The Foundations of Modern Austrian Economics, E.G.
The Foundations of Modern Austrian Economics, E.G.
Economists must either make their value judgments explicit and defend them with a coherent ethical system, or strictly refrain from entering, directly, or indirectly, into the public policy realm.
From The Review of Austrian Economics Vol. 10, No. 2, 1997.
It took seven decades, but most people now accept what Ludwig von Mises explained three quarters of a century ago, namely, that centrally directed socialistic economies cannot succeed in coordinating vast numbers of interrelated decisions, in large part because of the information problem arising from non-market forms of resource allocation (Mises 1920). No amount of input-out- put models generated on vast computers can overcome the problems of directing resources under changing conditions of wants and scar-city.
Lecture to the memory of Alfred Nobel, December 11, 1974.
Henry Hazlitt VENTURA Adobe Acrobat 6.0 Paper Capture Plug-in
From Zeitschrift für Nationalökonomie Journal of Economics, Spring 1977.
Étienne de la Boétie's discourse is lucidly and coherently structured around a single axiom, a single percipient insight into the nature not only of tyranny, but implicitly of the State apparatus itself.