some of my favorite wisdom from it, which stands in sharp contrast with public policy discourse. Economic analysiselegant tools and rigorous techniques of thought institutions, inappropriate property fights, wasteful processes, debilitating policies. The best of achievable worlds will still be a world of scarcity—and thus a world of choices, costs, and competition. But good economics will help us to do best, even if not well, in a hard
over men wielded by other men—of a magnitude never before knownThere is, in a competitive society, nobody who can exercise even a fraction of the power which a increases. A community of free men must be our goal. The guiding principle that a policy of freedom for the individual is the only truly progressive policy remains as true today as it was in the nineteenth century. Friedrich Hayek
enthusiasm turned toward self-improvement, and abounding entrepreneurial spirit, competition and free pricing. Note: This article is adapted from a chapter in Gary Galles’ latest book, Pathways to Policy Failures , just released by the American Institute for Economic Research.
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.