The second edition of the fun and fascinating guide to the main ideas of the Austrian School of economics, written in sparkling prose especially for the non-economist. Gene Callahan shows that good economics isn’t about government planning or statistical models. It’s about human beings and the choices they make in the real world. This may be the
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
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.
