Education

Even students who already have a strong understanding of more advanced Austrian concepts should consider reading Hahn's Common Sense Economics, for it will strengthen their foundations in economic theory.

"Twenty-five percent of college-bound high-school students cannot name the ocean separating the United States from Asia. This happens despite the fact that education funding in the United States tripled from 1960 to 2000."

Currently, the Mises Institute is not officially accredited. However, those who desire to do so can take a final exam and have the results posted online. In this way, economics majors can receive extra credit from professors friendly to the Mises Institute, and finance professionals can curry favor with their bosses if they are fans of the Austrian School.

Then you may boast that you are the only school in the nation that offers any formal study of such economics based in deduction.

The inevitable collapse — and the moral outrage of those it hurts — will continue for as long as the public buys into the myth that higher education (and its professors) are too important to have to keep their costs and production in line with consumer demand.

It may be difficult to understand at first why the members of the Texas Board of Education consider Aquinas, Calvin, and Blackstone more worthy of study than Thomas Jefferson.

 By the time the politicians are in charge, most of the eggheads will be in jail or in flight to Canada or Mexico.

Recorded at Jekyll Island, Georgia; 26 February 2010.

In areas of normative economics, this event [Becker receiving Prize]will give a sharp boost to many of the free-market views held by Austrians. But, as far as positive economic analysis is concerned, there is no help here for the praxeological school.