Mises Wire

Robert Nozick on Austrian Economics

Philosophy and MethodologyPraxeology

Blog05/08/2020

It isn’t a good argument against Austrian economics that someone might come up with a science that made better predictions. You have to show us the science, so that it can be compared with praxeology. Suffice it to say that this hasn’t been done.

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Rothbard on Why We Need Entrepreneurs

CapitalismCapital and Interest TheoryEntrepreneurship

Blog04/20/2020

Capitalists and entrepreneurs serve distinct functions in the real economy. Capitalists save money that then maintains production processes until final goods are produced. Entrepreneurs adjust the capital structure in light of uncertainty to produce the most desired goods. Capitalists are ...

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Rose Wilder Lane Is Now More Relevant Than Ever

SocialismStrategyU.S. History

Blog03/07/2020

Rose Wilder Lane was one of the past century's most ardent proponents of liberty. Give Me Liberty, which traces her evolution from communism to a devotion to liberty, is as relevant to the present as it was in 1936.

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Rothbard: The Constitution Was a Coup d'État

Book ReviewsU.S. History

Blog02/13/2020

Rothbard took the American Revolution to be mainly libertarian in its inspiration, but he contends that the libertarian impulses of the Revolution were betrayed by a centralizing coup d’état. If Rothbard is right, the Constitution as written provides ample scope for tyranny.

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Rationality in the Real World Isn't What Economists Think It Is

Blog12/02/2019

The world doesn't follow predictable patterns based on averages of long-term probability. Ordinary people apparently know this better than statisticians do.

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Reduced Sentences in Exchange for Lies: A Government Tradition

Legal System

Blog10/09/2019

Governments routinely bribe suspects into accusing others in exchange for reduced sentences. Thus, suspects are willing to say pretty much anything prosecutors want them to. Governments are fine with this.

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Rothbardian Welfare Economics

Free MarketsOther Schools of ThoughtPhilosophy and Methodology

Blog09/24/2019

Rothbard’s work on welfare economics probably ranks among his least-known achievements, but it is truly a tour de force and another tribute to his great originality and talent as an economist.

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Restitution-Based Criminal Justice in Japan

Legal System

Blog09/20/2019

What makes restitution work well in Japan is that private individuals and groups are much more responsible for controlling crime.

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