I first met Professor Salin in late 1997, in his office at the University of Paris-Dauphine. When I mentioned that I had been drawn to the Austrian School not least of all because of Mises’s epistemology, he raised his eyebrows and put on a skeptical face. I stopped talking and he threw in with amusement, “And all of economics is for you nothing
Ludwig von Mises’s Nation, State, and Economy is a rationalist-utilitarian analysis of the three manifestations of German imperialism: past German imperialism for the sake of national greatness, economic central planning in World War I (war socialism), which accelerated the introduction of full-blown socialism, and the blossoming imperialism of
The abject practical failure of the Marxist revolutionaries in the post-WWI period had done much harm to their image as the vanguard of social progress. The explanation for this failure in the writings of Mises, Max Weber, and Boris Brutzkus had led many economists to revise their views about the suitable scope of government within society. But
Before Carl Menger, various German economists had criticized the labor theory of value specifically and rejected the doctrine of inherent value in general. Menger’s view that value was subjective (personal, individual) in nature was not exceptional among German authors of the first half of the nineteenth century. Indeed, some of them even knew the
[Also available in HTML format .] This monograph addresses a critically important issue: the prevailing view that deflation (falling prices and/or falling money stock) is a catastrophe that must be stopped. Jorg Guido Hulsmann shows that deflation is nothing to fear. The government should permit it to happen as a path to economic recovery and even
Yours truly is happy to announce a new book publication : Krise der Inflationskultur (Munich: Finanzbuch-Verlag, 2013) , 320 pp. The strongest criticisms of fiat money and central banking have been based on monetary considerations and on the theory of capital. By contrast, the repercussions of an inflationary monetary system on financial markets
May 24 th , 2013 will remain in the annals of the Circle Bastiat as an infamous day of self-promotion. There is indeed a second publication which yours truly is most happy to announce: the Russian edition of the Last Knight of Liberalism : Последний рыцарь либерализма: Биография Людвига фон Мизеса (Chelyabinsk: Социум, 2013) , 893 pp. Translated
Wladimir Kraus, a former Rowley Fellow at the Mises Institute, successfully defended his doctoral dissertation “Essays on Reisman’s Net Consumption Theory of Profit and Interest” yesterday at the University of Aix-Marseille in southern France. Dr Kraus probably wrote the first PhD dissertation ever on George Reisman’s important treatise Capitalism
Germany’s Wirtschaftswoche just published a major story on Mises’s life and works , stressing his contributions to business cycle theory. The “intransigent visionary” provided the theoretical framework for analysing, understanding, and correcting our present financial
In his magnificent Classical Liberalism and the Austrian School , Ralph Raico recently stressed that there never has been any such thing as “classical” liberalism. There was and is only liberalism, an intellectual movement centred around the notion that society is working by itself and does not need to be supported, or reigned in, by coercive
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.