The Free Market 16, no. ( 1998) No sooner is John Maynard Keynes declared irrelevant for modern economics than some establishment figure declares him the god of the age. It happened again, in the pages of Fortune Magazine (August 17, 1998). The writer was MIT’s Paul Krugman, one of the most famous economists alive. His article, “Why Aren’t We
The Free Market 25, no. 4 (April 2007) Murray N. Rothbard (1926–1995) was dean of the Austrian School. This article, which appeared in National Review in 1959, is the introduction to the new Mises Institute edition of Hazlitt’s Failure of the “New Economics.“ For most people, economics has ever been the “dismal science,” to be passed over
The Free Market 21, no. 1 (January 2003) When the Berlin Wall fell in 1989 and the Soviet Union ceased to exist two years later, many western commentators optimistically declared that socialism had fallen with those two entities. However, as we limp from one economic morass into another, it has become clear that the dream of socialism is far
The Free Market 19, no. 1 (January 2001) A mathematician and an economist were asked, “What is the sum of two plus two?” The mathematician immediately answered, “It is four.” The economist, on the other hand, closed all windows and doors and asked quietly, “What do you want it to be?” Just when we think this story is simply another silly
The Free Market 7, no. 2 (February 1989) A roar, a shudder, and the end of the world. That was Soviet Armenia on December 7th when the great earthquake struck. Whole cities disappeared, as nurseries and factories, offices and homes, collapsed into rubble. In a few moments, more than 55,000 men, women, and children were crushed to death. But no
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.