Peter Klein addresses the frequent criticism that private investors and entrepreneurs have too short of a time horizon. Klein is the Mises Institute’s Executive Director and Carl Menger Research
Joseph T. Salerno and Peter G. Klein are two of the most productive micro-economists in the Austrian School today. This seminar provides an introduction to Austrian Economics. Presented at the Mises Institute, 11-15 June
Entrepreneurship is a general feature of the market economy. Download lectures slides at Mises.org/MU23_PPT_09 . Recorded at the Mises Institute in Auburn, Alabama, on 24 July 2023.
Austrian economist Peter Klein talks with Bob about his unusual (for a Rothbardian) career path, including his time working for the Council of Economic Advisors to Bill Clinton. They discuss Klein’s work on entrepreneurship, and how his views differ from those of Israel Kirzner. For more information, see BobMurphyShow.com . The Bob Murphy Show is
I’ve written before on government attempts to stimulate entrepreneurship and innovation through subsidies, prizes, tax incentives, state-funded science parks and incubators, and similar policies. Both theory and evidence suggest that these programs are unlikely to be successful , for a variety of reasons. Government actors lack the information to
The death of Fidel Castro has brought to light the catastrophic failure of Cuban socialism . Cuba, whose standard of living was among the highest in the region in 1959 , is now one of the world’s poorest countries ( questionable stats on education, healthcare, and even cigars notwithstanding). And, of course, as is obvious to anyone not named
The New York Times recently ran a fascinating piece on the innovative management practices used by sharing-economy firms like Uber, AirBNB, and TaskRabbit. These firms match riders with drivers, house guests with building owners, homeowners with plumbers, and so on. The challenge for the platform owners is that the providers are independent
Volume 2, No. 2 (Summer 1999) In his “closing salvo” in the socialist calculation debate, Mises (1949, pp. 705–10) argued that the market socialists failed to understand the role of financial markets in an industrial economy. Even with markets for consumer goods, he explained, socialism would fail because it substituted collective ownership of the
Volume 4, No. 2 (Summer 2001) Do entrepreneurs make predictable mistakes? Theory and evidence suggest otherwise . Contrary to the conventional wisdom on mergers and sell-offs, divestitures of previously acquired assets do not necessarily indicate that the original acquisitions were mistakes. Indeed, empire-building motives do not seem 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.