It’s no secret that Austrian economics is flourishing around the world and that more students than ever are searching for careers that will allow them to contribute to the Austrian tradition. However, students often ask where they can go to study Austrian economics at the PhD level in preparation for teaching and researching in academia, or for work in the non-profit sector or in business generally.
Nationalism is a potent force in the modern world, and it is not surprising that some libertarians have been attracted to it. Indeed, in some circles the slogan “Blood and Soil” has come into to use to denote a people’s attachment to the land. It should be noted that although this slogan was used by the Nazis, especially by Walter Darré, it did not originate with them but was common among German nationalists such as Oswald Spengler. It would be wrong, then, to think that libertarians who use it today are signaling a covert admiration for the Third Reich and its führer.
As a rule, US war reporting since Vietnam has been mostly mainstream media cheerleading the mission rather than digging beyond government war propaganda. After all, it was images of American boys coming home in body bags shown on the six o’clock news across America that finally galvanized mainstream opposition to that war.
Traffic in our major cities is grinding to a halt. This is especially true during morning and evening “rush” hours (scare quotes around this word since no one is rushing around anywhere, apart from bicyclists and roller skaters, who are just about the fastest movers in this system). All too often, however, this period stretches from 7 am to 7 pm, with barely a diminution during this period of time.
The yearly growth rate of the consumer price index jumped from 5.4 percent in June 2021 to 9.1 percent in June 2022. Some economists attributed this increase to monopolies.
In 1964, Leonard Read wrote a genealogy from the perspective of a pencil, demonstrating the vast, complicated web of the structure of production that is handled by the division of labor on free markets. The pencil explained that no one knows how to make a pencil because of the myriad production processes involved:
In over twenty-five years of teaching undergraduate students, I have heard the same refrain countless times: free markets have many problems that government has to step in to solve. Indeed, students expect government to “step in” so much that markets occupy a peripheral role in their idealized economic system. Even students with an ideological predilection toward markets will be quick to argue that certain problems, such as pollution, require extensive government regulation and probably copious spending of tax dollars.
The day after America celebrated its independence and its founding principles of self-governance and liberty, across the pond, Britain paid tribute to its values of collectivism and statism by commemorating the seventy-fifth anniversary of the National Health Service (NHS). Children’s choirs sang “Happy Birthday” at a thanksgiving church service celebrating the NHS at Westminster Abbey.
Economic exchange stands as the defining essence of any economy, epitomizing the intricate web of interconnected transactions that shape its very existence. In essence, an economy derives its essence from the culmination of individual exchanges. However, the profound impact of the crucial distinction between voluntary choice and coercion often goes unnoticed by many outside the realm of economic study.
The state is, first and foremost, an institution whose overarching goal is the forcible subjugation of all the people who inhabit a given territory. However, what makes the state different from other coercive entities, such as organized crime groups, is that it enjoys some form of popular legitimacy. In other words, in addition to enslaving its inhabitants physically, it needs to secure their mental servitude as well.
