From the New York Times, “ Europe Is Turning Its Back on Keynes’s Cure for Recession “: The British economist John Maynard Keynes may live on in popular legend as the world’s most influential economist. But in much of Europe, and most acutely here in the land of his birth, his view that deficit spending by governments is crucial to avoiding a long
On Reddit, some concerned soul pointed out that , “Boycotting BP hurts the local station owner a lot more than BP corporate,” citing a NPR story . Of course, most BP boycotters would be pained to realize that it also would likely hurt the Gulf clean-up itself. As I pointed out in the comments , if a firm’s share price drops, it has greater
There is a lot of talk about “social entrepreneurship” and “Doing Well by Doing Good”. What is almost completely ignored, however, is the inherent social function of all entrepreneurship. What people need to become more familiar with is the opposite of the usual phrase; they need to become familiar with the notion of Doing Good by Doing Well . A
GMU economist Peter Boettke writes : As of January 1, 2010, we are changing our name to “Coordination Problem”. This name change is symbolic as well as substantive. The term “Austrian economics” has become as much a hindrance to the advancement of thought as a convenient shorthand to signal certain methodological and analytical presumptions. We
Man’s quest for the great mysteries of the universe began long before philosophy proper is thought to have begun, with the life and thought of Thales of Miletus. In fact the calling of the philosopher was anticipated by, and perhaps grew out of, the callings of the Sage, the Poet, the Singer, the Prophet, and even the Priest. Let us meet one of
In ancient times, those who favored teleological interpretations of the cosmos, also tended to favor the epistemology of revelation. In Theory and History Chapter 3 , Mises discusses revelation: Revealed religion derives its authority and authenticity from the communication to man of the Supreme Being’s will. It gives the faithful indisputable
A thinker’s journey is never done. But at this stage in mine, to me it seems evident that the thought of Ludwig von Mises is, thus far, the apogee of man’s age-old quest for soundness of thought. In the blog posts that follow, I will put that impression to the test in reflections on the history of “big ideas”, viewed through the lens of Mises’
Mao Zedong, founder of the People’s Republic of China, qualifies as the greatest mass murderer in world history , an expert who had unprecedented access to official Communist Party archives said yesterday. () At least 45 million people were worked, starved or beaten to death in China over these four years () Mr Dikötter is the only author to
Paul Krugman is fretting that the Organization for Economic Cooperation and Development is listening to the “ Pain Caucus “, since it is recommending austerity measures. Not to worry Mr. Krugman, Team Profligacy is on the case! From Spiegel : Europe is eager to begin paying down sovereign debt. The US wants to see Germany and France continue
In the Introduction to his new book, The Capitalist and the Entrepreneur ( published as a Mises Daily), Peter Klein tells us of his path to Austrian Economics, as well as his pleasant encounters with Murray Rothbard and Israel Kirzner. He also tells us of the basic thrust of his book: “The essays collected in this volume reflect my efforts to
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.