In this article, Robert P. Murphy and Gene Callahan review of Hans-Hermann Hoppe’s argument for defense of the justice of a social order based exclusively on private property. Volume 20, Number 2 (2006) Murphy, Robert P., and Gene Callahan. “Hans-Hermann Hoppe’s Argumentation Ethic: A Critique.” Journal of Libertarian Studies 20, No. 2 (2006):
Re: Ponnuru’s query : I address this point in my book Economics for Real People : “The desire to hold cash alters prices. It is true that not everyone in the economy can put more dollars under their mattress at the same time. As there are only so many dollars in existence, everyone’s efforts to trade goods for a certain number of dollars cannot
On a recent re-reading of Mises’s Theory and History , I’m impressed at what a great book it is. And who says Mises isn’t good for a few laughs: “Of course, there have always been men who planned for eternity. For the most part the failure of their designs appeared very soon. Sometimes their constructions lasted quite a while, but their effect was
Phelp’s response is very strange. He writes: “If solid old-economy investments were being crowded out in the late 1990s, corporate interest rates net of inflation would have been elevated, which they were not.” Well, they would have been elevated, unless, of course, someone in the economy was artificially holding rates down, heh? And it’s clear
OK, folks, you’d better sit down and make sure your blood pressure is at a reasonable level before continuing. Here is Tom Nugent “debunking” some economic fallacies , with my comments interspersed: “5. What This Country Needs Is Higher Savings. “I am sure you have heard more than one economist or politician bemoan low savings rates in the U.S. as
Two days ago I took my kids out to lunch. The place I took them is essentially a hamburger joint, with a very thin veneer of New York hip added on. While we were eating, a conversation in the nearby kitchen caught my ear. What I heard was, “In the 1930s, everyone thought this problem was solved.” Wondering what sort of historical discussion was
Paul Craig Roberts raises an interesting point when he writes: “If Mateusz Machaj were correct that ‘there is no difference between mobility of factors of production inside or outside a country,’ there would be no subject matter for international trade theory. All trade would be regional trade.” This is almost correct. As pointed out by Mises in
Two recent discussions about resource prices conveys much good information. This morning I was greeted with a discussion in the blogosphere about oil prices. As Russ Roberts explains, the Hotelling principle, that prices of resources of fixed supply should rise at the market rate of interest, cannot be applied to oil, if for no other reason that
[ Skin in the Game: Hidden Asymmetries in Daily Life , b y Nassim Nicholas Taleb] The multitalented writer, businessman, and academic Nassim Nicholas Taleb hates being called an “intellectual,” so let’s instead refer to him as a thinker and note that he is one of the more important thinkers of our time. That importance comes not so much from the
Volume 6, No. 2 (Summer 2003) Austrian business cycle theory ( ABCT ), we contend, is essential to understanding the recent boom and bust cycle in the American (and, to a great extent, the global) economy. That does not mean that every recent macroeconomic event is explained by ABCT . For instance, exchange rate manipulation (e.g., the
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.
