Statistical Malfeasance and Interpreting Economic Phenomena
Richard Vedder
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).
Some Austrian Perspectives on Unintended Consequences
Lowell Gallaway
One of the most overused notions in this about-to-expire century, is the concept of “unintended consequences.” In its strongest form, it emerges as the Law of Unintended Consequences, a generalized explanation for a host of public policy failures in American society.
Block’s Erroneous Interpretations
Harold Demsetz
Walter Block has absorbed 64 pages of The Review of Austrian Economics1 to attack a 19-page paper I wrote.
Fiat Money as an Administrative Good
Yuri Kuznetsov
Hans-Hermann Hoppe, in his excellent article “How Is Fiat Money Possible?—or, The Devolution of Money and Credit,”1 explained that fiat money can come into existence through the progressive degeneration of commodity money substitutes.
Capitalism: A Complete and Integrated Understanding of the Nature and Value of Human Economic Life. By George Reisman. Ottawa, Ill.: Jameson Books, 1996. Pp. i, 1046. $95.00. ISBN 0–915463–73–3
George Reisman was a student of both Ludwig von Mises and Ayn Rand. Yet, Reisman’s Capitalism discusses few typically Austrian or Objectivist themes. Amazingly, in a more than 1,000-page book, ostensibly influenced by both Human Action and Atlas Shrugged, there is no index entry for entrepreneurship.
Austrian Economics in America: The Migration of a Tradition. By Karen I. Vaughn. Historical Perspectives on Modern Economics. New York and Melbourne: Cambridge University Press, 1994. Pp. xiv, 198. $49.95. ISBN 0–521–44552–3.
Some books are distinguished by inaccuracies, stilted or idiosyncratic interpretations or by a simple lack of scholarship. These are simply forgettable with “the only bad review being only an obituary.” Others are this and plenty more—they do actual and discernible damage to the subject they seek to treat.
War Collectivism
War Collectivism: Power, Business, and the Intellectual Class in World War I
WAR COLLECTIVISM
Power, Business, and the Intellectual Class
in World War I
Title Page
WAR COLLECTIVISM
Power, Business, and the
Intellectual Class in World War I
Murray N. Rothbard
MISES
INSTITUTE
AUBURN, ALABAMA
Copyright Page
Cover photo copyright © Imperial War Museum. Photograph by Nicholls Horace of “Munition workers in a shell warehouse at National Shell Filling Factory No.6, Chilwell, Nottinghamshire in 1917.”
Copyright © 2012 by the Ludwig von Mises Institute. Permission to reprint in whole or in part is gladly granted, provided full credit is given.
