While the collapse of communism, computer technology, and the Fed’s easy money policy have been major contributors, the massive mergers and acquisitions movement is not unfamiliar with economics. He writes knowingly about “economic rents,” the competitive-market hypothesis, the winner’s curse, and he uses competitive market as a form of gambling that has their own self-aggrandizement as its goal—“from a policy perspective . . . managers make these decisions because they can.” He
focused on pure theory, addressing topics of money, business cycles, and economic policy, and often ranging far beyond economics to the philosophy of science and Edgeworth’s Mathematical Psychics , and Chamberlain’s Theory of Monopolistic Competition were added. Moreover, while Wicksteed’s treatise was listed as a projecting itself through the disturbed and changing group system [i.e., competitive market economy] of actual society just as the imaginary level surface of
of a Reason Foundation proposal for city governments to put city services up for competitive bidding. MacLean’s critique begins with a chapter about John C. Calhoun, libertarian economics, defense of civil liberties, and his advocacy of a foreign policy of national defense instead of offense. MacLean also completely ignores the
tune in his final word on the economics of socialism, “Socialist Calculation: The Competitive ‘Solution’” (1940). No matter how many new strategies they tried, the
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.