Economic Policy

The Policy and History faculty panel takes student questions on the state of the movement and the prospects for freedom.

Keynesians claim that recessions occur because of a lack of consumer demand. However, demand comes from what we produce, so a growing economy needs more production.

Mises examines the doctrine of a “hampered” or regulated market as a distinct third system and answers Schmalenbach’s thesis that free enterprise was giving way to a bound economy.

Mises’s 1929 preface, written in Vienna for the original German edition, presenting the essays as a sustained critique of interventionism, then the reigning economic policy across Europe and America.

Hans F. Sennholz, the translator, lays out Mises’s target—the belief in a “third system” of a hampered market economy standing between capitalism and socialism—and why that middle way cannot hold.

The economic case for private property and the free market, including the impracticability of socialism, the failures of interventionism, and the problems of cartels, monopoly, and bureaucracy.

Does a recession loom in our future? Given the irresponsibility of the government’s economic policies, the short answer has to be “yes.”

Government economic policies reflect abstract ideas of what agents wish reality were like. Praxeology is not beholden to abstract economic fantasies.

Government economic policies reflect abstract ideas of what agents wish reality were like. Praxeology is not beholden to abstract economic fantasies.

The Appalachian region, while always relatively poor, had strong families and institutions that held things together. In the aftermath of the expansion of the welfare state and the shrinking of the iron, steel, and coal industries, we have seen social breakdowns and increasing drug addiction.