Calculation and Socialism
In 1920, Ludwig von Mises destroyed the intellectual foundations of the case for socialist central planning.
In 1920, Ludwig von Mises destroyed the intellectual foundations of the case for socialist central planning.
There is no clear basis in economics, ethics, efficiency, or fairness for Minimum Wage Laws.
"The free market and the division of labor does not promote hyper-atomized individuals. It creates social harmony and community."
Even though the Cold War ended three decades ago, the threat of nuclear war still hangs over us. Scott Horton reminds us that preventing nuclear war should always be high on our political agenda.
This concept of economic calculation is really the foundation of all economic theory, and price theory is the cornerstone of economic calculation.
What is libertarian law and how does it function? Ludwig von Mises answered some of those questions and helped chart a path to achieving such a state of affairs.
Presented at Mises University 2022.
Menger discovered much more than the principle of marginal utility—he created an entire system of economics based on subjective value and individual choice.
Progressives claim that inequality is causing poverty and making people's lives worse. In reality, inequality leads to better economic outcomes overall and pulls more people out of poverty.
It is hard to explain through evolution how we know any necessary truths. Does this give us reason to abandon necessary truth? Nozick thinks so.
In the 1950s, McCarthyism targeted people who were accused of supporting Russia. Today's McCarthyism targets people accused of supporting … Russia. Some things never change.
June was the fifteenth month in a row during which price inflation outpaced earnings growth. June's gap is also among the biggest we've seen in decades.