Ludwig von Mises and F.A. Hayek’s criticisms of Marxism are among the most famous works within the Austrian school. Less discussed are some of the specifics criticisms of Eugen von Bohm-Bawerk. 

G.P. Manish joined the Tom Woods Show to discuss the topic, inspired by a recent Mises Wire article. 

In last week’s column comparing median income numbers from country to country, we found that, by the measure the OECD uses, median incomes in the US are the seventh highest in the world (not counting some tiny city states.) Even after including income from welfare programs, the median income of the US is about equal to that of Austria and Denmark.

The $85 billion mega-merger of AT&T with Time Warner appears headed for consummation, which will create another big digital media company with telecom underpinnings. But will this endless scramble for eyeballs and clicks, the quest to determine which platforms finicky content consumers will choose in coming years, actually create any value for shareholders?

“I can’t help but feel a little bit proud that our views, which aren’t mentioned very often, are really being talked about. They are talking about a peace treaty and ending the war. They are talking about bringing troops home. They are talking about spending less money and no more military games over there. Wow. That is very good.” - Ron Paul

In the Bible it says, “He that is without sin among you, let him first cast a stone . . .” It also has been said that the one who strikes the second blow starts any fight. If the world is to avoid trade wars due to tariffs being imposed by the Trump Administration, both the United States and its trading partners in Europe and North America should look within themselves and ask if they are blameless in their own trade practices, and if it would not be far better if everyone were to simply follow a policy of free trade.

Over the years, I have heard multiple different things described as “not rocket science.” The implication was always that rocket science was just about the hardest thing to do, making virtually everything else easy by comparison. As an economics professor over many of those years, I have increasingly come to object to that characterization. I think the questions of social coordination that economics addresses may not require “rocket science,” but are in many ways much more complex and difficult, especially when it comes to imposing control.

In her book The Big Fat Surprise, Nina Teicholz controversially contends that United States nutritional guidelines have largely contributed to rising levels of heart disease and obesity in the American populace.

Today was the first day of this year’s Rothbard Graduate Seminar. A total of 27 students from 13 countries have joined us in Auburn to dissect and discuss Murray Rothbard’s economic treatise Man, Economy, and State. RGS stands alone as the sole academic program in the world that applies the tradition of a great book seminar to Austrian economics. It has proved to be an invaluable asset in developing modern scholars in the Misesian tradition, and is possible thanks to the incredible generosity of  Alice Lillie.

[Editors note: The new fourth edition of Money, Bank Credit, and Economic Cycles is now available at the Mises Bookstore.]