Praxeology

May 8 marks the 1899 birth of Friedrich Hayek. Though best known as an economist, he was acclaimed for contributions in many fields.

Hans-Hermann Hoppe explains the neglected role of insurance in a free market economy. Any insurance involves the pooling of individual risks by the market, a task the state can only distort.

In this excerpt from his new book, Hans-Hermann Hoppe shows how taxation corrupts the political culture and harms social well being.

This essay is based on a chapter of Democracy: The God That Failed.

There is nothing magical or mysterious about the a priori foundations of economics, writes Gene Callahan. 

A book-length manuscript based on notes taken by Bettina B. Greaves during the Mises Seminar in New York in the 1960s. 

In an essay that made his <a href="http://store.mises.org/Austrian-Perspective-on-the-History-of-Economic-Thought-2-volume-set-P273C0.aspx">masterpiece on the history of thought</a> famous, Murray Rothbard argues that Adam Smith should not be called the founder of economics, nor a theorist who improved on economic science, nor even a consistent defender of the market economy.

Throughout human history there have been those who deny free will and personal responsibility, instead blaming their wrong-doings on interventions divine and planetary. 

In a dark hour of Mises's life, there was a glimmer of light: an invitation from New York University to speak about the contributions he had made to economic thought. The address was given in 1940, nine years before Human Action appeared on the scene.