The blogger Bionic Mosquito has a post relating to today’s Mises Daily article on fractional reserve. Mosquito makes that point that modern deposit contracts are not bailments, with the depositor retaining ownership. Instead, the individual depositor in effect enters into a short term credit agreement with the bank. Of course most depositors
A senior economist at Goldman Sachs has weighed in on the upcoming Scottish independence vote, and it’s not pretty: Goldman warned that public services would have to be cut if Scotland goes it alone, and that the country would face much higher borrowing costs. But the most worrying consequence, the bank predicted, would be that uncertainty over a
Dr. Paul was received like a rock star at the 2014 Conferência De Escola Austríaca in Sao Paulo, with more than 400 people attending his keynote speech. Thanks to Helio Beltrao of Mises Brazil for hosting Ron and putting on a fantastic event. More photos here , and Ron’s report here . Many more Facebook photos here
In light of the upcoming Scottish independence referendum, some quotes by Mises are appropriate. Too bad the Scots’ idea of independence is Salmond and the EU, not Wallace and Bruce. No people and no part of a people shall be held against its will in a political association that it does not want. ( Nation, State, and Economy , p. 34) It makes no
News of this hilarious study by two professors from Princeton and Northwestern is sure to excite the booboisie. It turns out —gasp— that John Q and Sarah Public have zero influence over government policy. We can only wish Mencken was alive to comment. What’s the next great revelation, your vote doesn’t count? Just for the record, there is not
Matt O’Brien at the Washington Post knows that Abenomics can work for the Japanese people, but only if they really, truly believe in it with all their hearts. This is not satire: So what’s going on here? Well, it might sound like a hokey religion, but central banking is really a Jedi mind trick. Just saying something can be enough to make it
In this interesting article published in Economia (a trade journal for Chartered Accountants), we find a left-progressive argument against math and its overly prominent role in neoclassical economics: This discontent was born in the post-autistic economics movement, which started in Paris in 2000, and spread to the United States, Australia, and
Today’s is Ron Paul’s 79th birthday. I’ve had the pleasure of knowing Dr. Paul for several years, and he is one of the most thoroughly decent, thoughtful, and humane men one could ever hope to meet. And by the way, Ron is exceedingly fit and has the energy of a 35 year old. In his case age really is just a number. Not everyone knows the extent
Toshio Murata was a student of Mises in New York, and translated Human Action into Japanese. He is almost single-handedly responsible for creating an Austrian/Misesian movement in Japan. Marc Abela of Mises Japan sends us this update, along with some photos of this amazing man recently giving a presentation at age 90: Entering his 90s this year,
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.
