Over at Mises Canada, I’ve started the coverage of the Sochi Olympics.
Countless sporting records will be broken in Sochi over the next two weeks. Surprisingly perhaps, the biggest record was already broken before the games ever begin.
Ludwig von Mises and Joseph Schumpeter are the most famous economists trained by the older Austrian School, although generally Schumpeter has received the lion’s share of attention.1 This is especially true, for example, in the field of entrepreneurship.
[Editor’s Note: The debate over the effects of the Affordable Care Act on incentives to work continues. In this selection from Chapter 11 of Man vs. The Welfare State (1969), Henry Hazlitt discusses some impacts of welfare programs on incentives.] by Henry Hazlitt
Joe Salerno sits down with Jeff Deist to discuss how Austrian Economics frames the issue of income inequality.
I grew up in East Germany - a similar economic environment as there was in the former Soviet Union. For (equally) poor East Germans, buying a new dryer would have been utterly impossible. Firstly, central planing never allocated enough resources to buy cloth dryers or virtually any other consumer product. Secondly, income levels were too low to afford a $500 cloth dryer.
[The Chris Christie bridge scandal has highlighted some of the pitfalls of political control of the highway system. In this selection from Chapter 21 of The Privatization of Roads and Highways, Walter Block discusses some issues related to the privatization of roads. Block address the issue of traffic congestion throughout the book.]
The Spectator reports on a new book by Andro Linklater that examines the history of landownership, and the modern break away from feudalism to ‘exclusive control of the ground.’
Already in mailboxes is the January edition of The Free Market, the Mises Institute’s monthly. In this issue, Ryan McMaken writes on the AMC show Hell on Wheels and the transcontinental railroads:
