When Ludwig von Mises began teaching his seminar at New York University in the late 1940s, he did so because he was driven to teach and to pass on the knowledge of the Austrian school.
Years earlier, Mises had realized that ideas have consequences and one of the most important ways of combating bad ideas is to offer good ideas in their place. Without good scholarship, good research, and good scholars, truth has little chance of being heard.
All world history … presents … a contest … between the economic and the political means. …The state is an organization of the political means … forced by a victorious group of men on a defeated group, with the sole purpose of regulating the dominion of the victorious group over the vanquished. — Franz Oppenheimer
Hillary and Trump are not the only people waging Fall Campaigns.
While Nevada’s public is spared excessive lawmaker interference as its Legislature only meets every other year for 120 consecutive days, this year will be the third in a row the Legislature will be called into special session to vote on a handout for a billionaire.
On September 30 the DEA plans to ban kratom in the United States. In the process the DEA will be using their “emergency powers” to make kratom a Schedule I controlled substance thus classifying it alongside marijuana, cocaine, opium, heroin, and LSD.
But you may not know that more than 5 million people will visit it in 2016. In fact, mises.org ranks among the most-visited economics sites.
There is no simple, painless solution. The world has to reduce debt, shrink the financial part of the economy, and change the destructive incentive structures in finance. Individuals in developed countries have to save more and spend less. Companies have to go back to real engineering. Governments have to balance their books better. Banking must become a mechanism for matching savers and borrowers, financing real things. Banks cannot be larger than nations, countries in themselves. Countries cannot rely on debt and speculation for prosperity.
