Our mentor has always been Hippocrates, not Adam Smith —President of a County Medical Society at an AMA meeting quoted in the February 16, 1981 issue of the New York Times . This weekend (June 11-13, 2004), the American Medical Association (AMA) will celebrate the 100th anniversary of its Council on Medical Education. The medical establishment
The economist Ludwig von Mises was once asked what one institution gives evidence that a society has crossed into socialism from capitalism or vice versa. He answered clearly and without hesitation: the presence of a stock market. Stock markets indicate a toleration for private ownership and exchange and provide the essential means to compare the
Interventionism cannot be considered as an economic system destined to stay. It is a method for the transformation of capitalism into socialism by a series of successive steps— Ludwig von Mises, “ Middle of the Road Policy Leads to Socialism ,” April 18, 1950. We’re going to take things away from you on behalf of the common good — Hillary Rodham
Don Boudreaux posted an interesting blog entry at Cafe Hayek (forwarded to me by two different e-mailers who wanted a response) with a link to a New York Times article quoting Columbia economist Frank Lichtenberg as stating, “In general, the benefits of new drugs outweigh the costs by a substantial margin.” Call me a little skeptical of this last
The way modern medicine sees it, if you think you’re sick, but you’re not, then you’re really sick. Mentally, that is. Sound crazy? Look here (free registration required). According to the Seattle Times , people who fake illnesses or who interpret every discomfort as a sign of illness are no longer dismissed as malingerers or hypochondriacs. Even
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.