[ Los Errores de la Vieja Economía • Juan Ramón Rallo • UNIÓN EDITORIAL, S.A.; 1st edition] The Austrian School of economics has provided the world with devastating critics of Keynes’s magnum opus The General Theory of Employment, Interest and Money ( TGT ) for a long time. Friedrich A. von Hayek, Jacques Rueff, Henry Hazlitt, Murray Rothbard,
Still unnoticed by a large part of the population is that we have been living through a period of relative impoverishment. Money has been squandered in welfare spending, bailing out banks or even — as in Europe — of fellow governments. But many people still do not feel the pain. However, malinvestments have destroyed an immense amount of real
A paper currency system contains the seeds of its own destruction. The temptation for the monopolist money producer to increase the money supply is almost irresistible. In such a system with a constantly increasing money supply and, as a consequence, constantly increasing prices, it does not make much sense to save in cash to purchase assets
Mises Institute : What prompted you to write In Defense of Deflation ? Philipp Bagus : One reason is that there was simply no complete treatment of deflation. The other reason is that the fear of deflation has brought disastrous consequences for our economies. This is so because the alleged threat of deflation is used to justify the production of
Thomas Piketty´s book, Capital in the Twenty-First Century , on growing inequality in capitalism, has become a bestseller. Piketty offers much data claiming that inequality is rising and draws the conclusion that the state should fix that ‘problem’ with additional taxes on the rich. It is true that the distance between the ‘super rich’ and the
Last month, Philipp Bagus and Andreas Marquart released their new book Blind Robbery!: How the Fed, Banks, and Government Steal Our Money , now available from FinanzBuch publishers. (See Karl-Friedrich Israel’s full review on mises.org.) We recently spoke with Dr. Bagus about the new book and how certain politically influential groups benefit
Philipp Bagus, author of The Tragedy of the Euro recently spoke with the Mises Institute about recent developments in Switzerland and the European Monetary Union. Mises Institute: In January, the Swiss central bank unpegged the franc from the euro. What does this mean for the future of the Swiss franc? Philipp Bagus: The Swiss central bank
Philip Mirowski, known for his book More Heat than Light: Economics as Social Physics, Physics as Nature’s Economics in which he criticizes neoclassical economics for adopting methods from the natural sciences, recently published a book on neoliberalism and the economics profession during the financial crisis. In Never Let a Serious Crisis Go to
After the German elections held on the 23rd of September, the euro started a pronounced decline. But why was there such a sharp fall of the common currency? At the end, the election´s result does not seem to bring dramatic changes. Despite its losses, Merkel´s party, the CDU, remained the strongest force in the parliament. Merkel will continue to
Andreas Marquart and Philipp Bagus (see their mises.org author pages here and here ) were recently interviewed about their new book by the Austrian Economics Center. Unfortunately for English-language readers, the book is only available in German. Nevertheless, the interview offers some valuable insights. Mr. Marquart, Mr. Bagus, you have
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.