The Murray N. Rothbard Memorial Lecture, sponsored by Helio Beltrão. Presented at the Austrian Economics Research Conference at the Mises Institute in Auburn, Alabama, on 11 March 2017. Includes introductory remarks by Joseph T.
One of the highlights of our Austrian Economics Research Conference is the interaction between scholars and entrepreneurs, and the new ideas that such conversations spark. Here business consultant Hunter Hastings outlines how technological innovation is already making centralized “designed” systems obsolete, and how artificial intelligence opens
[From Anything That’s Peaceful: The Case for the Free Market , 1964] As I sat contemplating the miraculous make-up of an ordinary lead pencil, the thought flashed in mind: I’ll bet there isn’t a person on earth who knows how to make even so simple a thing as a pencil. If this could be demonstrated, it would dramatically portray the miracle of
[ This article is excerpted from Human Action (1949), chapter 37, “The Nondescript Character of Economics.” ] The Singularity of Economics What assigns economics its peculiar and unique position in the orbit both of pure knowledge and of the practical utilization of knowledge is the fact that its particular theorems are not open to any
The New England Patriots’ astonishing come-from-behind Super Bowl victory last night captured the attention of even this decidedly casual fan. The shell-shocked look on Atlanta Falcons coach Dan Quinn at the post-game interview said it all: he couldn’t believe what had happened. But it did happen. Of course it wasn’t that New England beat the
Neal Gabler is a writer of some prominence. You may have heard of his Walt Disney biography, just one of several award-winning books, but one that many consider definitive. Or of his television career spanning several decades, including a stint as a co-host of a popular PBS program. Or perhaps you knew that he taught writing at the University of
[This is chapter 33 from Rothbard’s 4-volume history of colonial America, Conceived in Liberty . Listen to the audio version .] We have touched several times, especially in dealing with religious doctrines and institutions, upon the growth of libertarian views in eighteenth-century America. This extremely significant development was not a
The Trump administration released its 2018 budget this week. Once again we saw the media try to play up decreases in proposed spending as a form of draconian cuts , ignoring the fact that Trump’s plan still reflects a significant increase in federal programs. Rather than trying to decentralize America’s bloated welfare state , the Trump budget
It is customary to find fault with modern science because it abstains from expressing judgments of value. Living and acting man, we are told, has no use for Wertfreiheit ; he needs to know what he should aim at. If science does not answer this question, it is sterile. However, the objection is unfounded. Science does not value, but it provides
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.