In the aftermath of its recent election debacle, Britain's Conservatives have selected Kemi Badenoch as their new leader. Badenoch describes herself as an "adherent to Austrian Economics." Will it make any difference in Britain's future?
With Europe moving toward conflict in 1938, a number of economists and other intellectuals met in Paris to try to revitalize liberalism. Ludwig von Mises also was there as a lonely voice defending laissez-faire and the free market economy.
While F.A. Hayek contributed much to the Austrian School of Economics, he also supported the establishment of the welfare state, believing that it was compatible with the rule of law. Ludwig von Mises, however, knew that the welfare state is the ubiquitous slippery slope.
With Europe moving toward conflict in 1938, a number of economists and other intellectuals met in Paris to try to revitalize liberalism. Ludwig von Mises also was there as a lonely voice defending laissez-faire and the free market economy.
While F.A. Hayek contributed much to the Austrian School of Economics, he also supported the establishment of the welfare state, believing that it was compatible with the rule of law. Ludwig von Mises, however, knew that the welfare state is the ubiquitous slippery slope.
While F.A. Hayek was a promoter of liberty, his work nonetheless often failed to acknowledge just how predatory the state really is. Murray Rothbard understood that the real enemy is the predatory state.
While F.A. Hayek was a promoter of liberty, his work nonetheless often failed to acknowledge just how predatory the state really is. Murray Rothbard understood that the real enemy is the predatory state.
While F.A. Hayek saw human ignorance as the basis for what he called spontaneous order, Ludwig von Mises saw human reason as the basis for praxeology.
Mainstream economists often claim that “market failure” is everywhere. However, when one investigates these so-called failures, one has to conclude that government intervention often is behind them.
While F.A. Hayek saw human ignorance as the basis for what he called spontaneous order, Ludwig von Mises saw human reason as the basis for praxeology.
