AGD at 50 and the Quote for the Week The first edition of Rothbard’s magnificent America’s Great Depression was published 50 years ago in 1963. Historian Paul Johnson in the introduction to the 5th edition (2000, LudwigVon Mises Institute) , called the book Rothbard’s “intellectual tour de force ” and argued that “It has stood the test of time.”
Mark Skousen, through his Economic Logic and The Structure of Production , has been leading the fight for years for a measurement of economic activity that more closely aligns with a capital structure based macroeconomics. GDP is truly a Keynesian–based view of the economy; a data set that often hampers rather than helps advance Austrian
Accounting and The Rise and Fall of Firms and Nations James Grant, presenter of the Henry Hazlitt Memorial Lecture at this year’s AERC, reviews The Reckoning . Success and failure of institutions and states raise and fall with the integrity of their balance sheets. As Grant observes, “successful societies—while they last—are those that properly
Frank Hollenbeck, in “ Why Keynesian Economists Don’t Understand Inflation ” argues that a fundamental shift in macro theorizing, shifting from the transaction version of the equation of exchange to the income form of the equation, particularly in theorizing about the demand for money is wrong theory and hence leads to bad policy and a inherent
Noah, commenting on “For More Jobs and Stability, Set the Economy Free” , points to second important observation in the linked commentary by Kevin Warsh – the spillover effect of Fed Policy, with significantly negative long run consequences, on the world economy. From his comment: The piece by Kevin Warsh that was linked in the article (“Finding
Over at Econlog Bryan Caplan explains “ Socialism Was Born Bad: The Case of Oskar Lange ” Both Don Boudreaux (at Café Hayek on March 25, 2014 ) I (on a Facebook share of the post) noticed that the “clarity of thought [which] led him [Lange]directly to a totalitarian vision that he gladly embraced” also provided arguments that support regime
Ryan McMaken provides an excellent response to the current the inequality is the root of evil nonsense . It is amazing how many on the left choose not celebrate the tremendous success of liberal institutions that support markets in generating prosperity. The evidence of the success of these classical liberal institutions; markets, property rights,
More “good news” on how regulation protects consumers while advancing welfare: Marijuana testing labs barred from taking individual samples: Read the Full Story Here
Thomas Piketty’s Capital in the Twenty-First Century has drawn raves from the many uncritical pundits and academics on the left. For the meddlers, the book is about the ‘right’ topic, inequality, at the right time. Never mind that the question is wrong ( here , here , and here ). Hunter Lewis and Peter Klein in recent Mises dailies have
Two Monetary Policies in One A summary from The Denver Post of Federal Reserve Chairwoman Janet Yellen’s report Wednesday May 7 to Congress: The U.S. economy is improving but the job market remains “far from satisfactory” and inflation is still below the Fed’s target rate. Yellen said that as a result, she expects low borrowing rates will continue
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.