Jeff Deist explains why it is important to say what we mean when discussing the economy and the state.

The Chinese government is desperate to keep its bubble economy going, and one way it’s doing that is by spending on massive infrastructure projects. The “China Bubble,” built on huge construction projects such as subways, skyscrapers, highways, and housing, continues to astound with the sheer numbers involved, from the height of the skyscrapers to the miles of track laid.

In his new book “Birdmen: The Wright Brothers, Glenn Curtis, and the Battle to Control the Skies”, Lawrence Goldstone tells the story of the feud between America´s two early air pioneers.  The interesting part of the book is not the battle taking place in the air as the Wright Brothers battled with Glenn Curtis to see who could be the superior airman.

Over at The Week, Noah Smith, an economics professor at Stony Brook University and of online “Noahpinion” fame, attempts a dismissal of the Austrian school of economics.

Today is F. A. Hayek’s birthday (and, incidentally, mine). Hayek, the eminent economist and social theorist who was Mises’s younger colleague, Keynes’s great opponent, and 1974 Nobel Laureate, would have been 115 today.

Here is my entry on Hayek for the 1999 volume Fifteen Great Austrian Economists.

Below is a short tribute video. And check out the Hayek items in the Mises Store.

Peter Klein discusses the contributions of economist F. A. Hayek, born on this day in 1899.

Dr. Tracy Miller, an economist at Grove City College was a graduate student of Gary Becker at the University of Chicago. Dr. Miller provides a sketch of Becker’s contributions as well as some personal reminiscences of Becker as a professor: