It is within the bowels of government where the real yes-men problem lies. Here, there is no automatic feedback mechanism of the market to rely upon, to quell any incipient tendencies in the direction of yes-manning.
I would like to emphasize two implications of my argument. First, the concept of secular growth as an uncaused phenomenon contradicts the Mengerian method of analyzing
Our analysis shows that Mises’s critique of “confiscatory interventionism” is the appropriate paradigm for interpreting events in the American economy during the last third of the twentieth century.
Commerce and Government is an extremely important book in the Austrian tradition. Reason enough, I shall hope, for every Austrian economist to become acquainted with it.
I have re-examined Bastiat’s contributions to economic theory and have found the charges against him to be unsubstantiated. In terms of economic theory, Bastiat is widely knowledgeable
Originary interest does not spring from the passing of time, but from the value relationship between means and ends. the means of action are inherently less valuable than the ends they serve.
The first sections of this paper consider, respectively, the following two problems that arise when dimensions are not correctly included in economic models:
The debate concerns the issue of whether the Austrian or the neo-classical vision more closely approaches the truth in economics, with regard to such issues as methodology,
As Paul Samuelson once put it: Adam Smith is dead and Keynes is dead; well—and Mises is dead, too. But Keynesianism is alive and well and back with a vengeance.
It is pretty well established within Austrian economics that the optimum quantity of money is whatever level is established at any given time.
