Foundation on “Why Austrian Economics Matters.” That’s because so many of the policy ideas suggested within the Austrian framework can be subsumed under the need antitrust, a vast historiography that turns the mainstream on its head, a huge and innovative critique of war and of interventionist and socialistic states — as well as Austrian school. Austrian economics was born with Carl Menger’s reflections and innovations on the nature and function of money. It matured under Mises’s own
exchange rate, this could only be the result of a relatively inflationary monetary policy and not of some “structural” real cause. Finally, although Mundell, in his of real world institutions. Despite his significant shortcomings in monetary policy (as well as in fiscal policy where he favors tax-cut fueled budget deficits), regions so defined continually change. That is, relative prices, new discoveries, innovations, the supply and demand of complements and substitutes are in a continual
during his presidency — not even Jefferson could be fully trusted with power — the policy bias was clear: frugality, free trade, hard money, and decentralized On top of that, every aspect of the economy is distorted by the expansionary policies of the Federal Reserve, resulting — in just one instance — in a huge housing checking and all the rest. Indeed, we would see an explosion of financial innovation under the gold standard because so many of the uncertainties associated
leaders debauch their currency, they proclaim it as wise and necessary monetary policy, and until recently most people believed them. It has taken the hocus-pocus of quality. Industries that cannot compensate for inflation with technological innovation turn to other means, such as producing an inferior product under the same
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.