Mises Search

I was sitting in my office at Washington and Jefferson College chatting with my department chairman, Felix Livingston. It was late spring of 1988. When the phone rang, Felix motioned for me to take the call. “Hello, this is Jeff Herbener.” “Jeffrey this is Murray, Murray Rothbard.” “Dr. Rothbard” As soon as the words left my mouth, Felix stood

Grove City College will host the Austrian Student Scholars Conference on February 16-17, 2024. Open to undergraduates and graduate students in any academic discipline, the ASSC will bring together students from colleges and universities across the country and around the world to present their own research papers written in the tradition of

Murray Rothbard called the central puzzle of the business cycle the “cluster of entrepreneurial error.” During the boom, most entrepreneurs and investors appear to be geniuses, earning extraordinary profits year after year. During the bust, their fortunes are suddenly reversed, and they seem like dunces and suffer losses year after year.

Submitted to the Wall Street Journal October 14, 1998 To the Editor: What is missing in the debate between proponents of a fixed-exchange-rate regime, such as the editors of the Wall Street Journal (”Reforming the World,” 7 October), and proponents of a floating-exchange-rate system, like Milton Friedman (”Markets to the Rescue,” 13 October), is

Members of Economic and Monetary Union couldn’t even wait for the euro’s official advent on January 1, 1999 to reveal its future. The EMU-wide interest rate cut in December 1998, an Keynesian-style effort to forestall a recession, was the real portent of things to come. Monetary inflation and credit expansion are the fate awaiting Europeans and

Professor Herbener of Grove City College has examined all available archives to sort out the complex history of Ludwig von Mises’s masterwork. As a contributor to the introduction to Human Action: The Scholar’s Edition , here is his fascinating story of how this book came to be. Human Action : What the Archives Tell Us   The disappointment Mises

Note: This speech was delivered at the Austrian Scholars Conference, Auburn, Alabama, April 16-17, 1999.   Mises on War and Peace in Human Action The essence of Mises’s chapter in Human Action entitled “ The Economics of War “ is in these words: “What has transformed the limited war between royal armies into total war, the clash between peoples,

In 1943, John Maynard Keynes claimed that central-bank credit expansion performs the “miracle of turning a stone into bread.” In its attempt to revive itself after a long recession, the Japanese government and central bank have given the world its last twentieth-century Keynesian experiment. It is an experiment that has failed, and miserably so.

Economists have been counseling inflation to cure Japan’s ills, while warning of the grave dangers of deflation. This is sheer nonsense. Nothing apart from war has damaged economic prosperity in the 20th century as much as the loose money and credit policies of the world’s central banks, from Germany in the 1920s to China in the 1940s, to various

[August 11, 2000] Although 1870 saw a breakthrough in price theory, the advances of the marginalist revolution had not yet penetrated to monetary theory by the early decades of the 20th century. Most economists were still content to work with the centuries-old quantity theory of money even though it took an aggregated approach while the key