By providing rewards for bureaucrats and punishments for merchants, many rulers destroyed interest in entrepreneurship and innovation outside the state.
When a central bank sets a two-percent price inflation target as a guide for monetary policy, it is targeting an arbitrary construction of economic statisticians.
Slavery has never been defined by the brutality of the conditions under which a person labored; but by the lack of consent.
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.