[ America’s Great Depression (1963)] Study of business cycles must be based upon a satisfactory cycle theory. Gazing at sheaves of statistics without “prejudgment” is futile. A cycle takes place in the economic world, and therefore a usable cycle theory must be integrated with general economic theory. And yet, remarkably, such integration, even
[This article is excerpted from volume 2, chapter 12 of An Austrian Perspective on the History of Economic Thought (1995). An MP3 audio file of this chapter, narrated by Jeff Riggenbach, is available for download .] Even assuming that the unexplained incompatibility between the productive forces and the relations of production exists, why
“Obama announced the creation of a national monument in honor of labor organizer Cesar Chavez. Here’s Murray Rothbard, who has a somewhat different take on Cesar Chavez. The word ‘floperoo’ is used.” – Thomas E. Woods, Jr. [This article originally appeared in the Free Market , July 1993. (You can subscribe by becoming a member .) It is appears
[This article is excerpted from volume 2, chapter 11 of An Austrian Perspective on the History of Economic Thought (1995). An MP3 audio file of this chapter, narrated by Jeff Riggenbach, is available for download .] Despite Marx’s claim to be a “scientific socialist,” scorning all other socialists whom he dismissed as moralistic and “Utopian,”
[This article is excerpted from volume 2, chapter 12 of An Austrian Perspective on the History of Economic Thought (1995). An MP3 audio file of this chapter, narrated by Jeff Riggenbach, is available for download .] Marx desperately sought a materialistic dialectic of history, a dialectic that would account for all basic historical change and
[ Man, Economy, and State, with Power and Market ] The analysis in chapter 1 was based on the logical implications of the assumption of action, and its results hold true for all human action. The application of these principles was confined, however, to “Crusoe economics,” where the actions of isolated individuals are considered by themselves.
Editor’s Note: Although negotiations concerning the “fiscal cliff” seem to be at an impasse, the one thing both Democrats and Republicans agree on is their desire to close tax loopholes. That is bad news for the economy, because as Ludwig von Mises said, “Capitalism breathes through those loopholes.” Closing loopholes to “broaden the tax base” has
[ The Free Market , May 1988] The Mises Institute comes at both economic scholarship and applied political philosophy from a very different perspective. It believes that “policy analysis” without principle is mere flim-flam and ad-hoc ery—murky political conclusions resting on foundations of sand. It also believes that policy analysis that does
[ The Man versus the State (1892)] Officialism is habitually slow. When nongovernmental agencies are dilatory, the public has its remedy: it ceases to employ them and soon finds quicker ones. Under this discipline all private bodies are taught promptness. But for delays in state departments there is no such easy cure. Lifelong Chancery suits must
[On October 27, as East Coast residents prepared for Hurricane Sandy, New Jersey Governor Chris Christie threatened “price gougers” with stiff penalties. As David Brown pointed out in Mises Daily on August 17, 2004, shortly after Hurricane Charley hit Florida, foul weather is when we need market prices the most. Capitalism needs more foul-weather
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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.