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Volume 16, No. 3 (Fall 2013) ABSTRACT : In response to Topan and Păun in this issue, this comment upholds two lines of argument in defense of the Pure Time Preference Theory of interest. Ludwig von Mises claimed that time preference is a fundamental concept of human action. It is not the conclusion of arguments about interest and

The Free Market 31, no. 12 (December 2013)   Mary Sennholz, wife of Austrian economist Hans Sennholz and friend of Margit and Ludwig von Mises, recently spoke with Senior Fellow Jeffrey Herbener and Associated Scholar Shawn Ritenour about her long career as a writer and editor, and as a friend and colleague of many other giants of the Austrian

Volume 17, Number 3 (Fall 1997)   An Interview with Jeffrey M. Herbener   Jeffrey M. Herbener, a senior fellow of the Ludwig von Mises Institute, has taught economics at Washington and Jefferson College and is now professor of economics at Grove City College. Author of many articles on the microeconomic foundations of Austrian theory, he is

Volume 12, Number 2 (Winter/Spring 1991) Jeffrey M. Herbener discusses fallacies of Philip Mirowski’s book More Heat than Light .

The Free Market 13, no. 4 (April 1995)   Four in five Americans opposed the $50 billion Mexican bailout, but they were powerless to stop it. When the central bank says it’s in charge—as it does in every financial upheaval of this magnitude—we are supposed to hold our tongues and leave it to the experts, even if their actions generate only

The Free Market 13, no. 5 (May 1995)   The events of March 1995 could be a watershed in international monetary affairs. Beginning with the Bretton Woods agreement 50 years ago, the Federal Reserve system has been the global monetary regulator. The collapse of the dollar is a no-confidence vote that may have brought this role to an end. In a system

The Free Market 13, no. 7 (July 1995)   The Clinton administration, working with Republican leaders, wants to do for foreign governments what the Reagan administration did for the S&L industry. The idea, as discussed at the Halifax world economic meeting, is to create a global bankruptcy court. It would restructure government debt wherever it may

The Free Market 13, no. 8 (August 1995)   The economy is again teetering on the brink of recession, and everyone’s calling on the Fed to do something—anything!—to prevent another economic slump. But while the Fed has mastered the art of messing up the economy, it doesn’t have the ability to stop the bad consequences of its own manipulative

State interference in education usurps the child’s rights and displaces the custodial role of the parents in exercising those rights. That the state would seize the custodial rights from the parents demonstrates that it has its own interests in mind. The state must resort to force because neither the child nor the parents want the natural

Quarterly Journal of Austrian Economics 19, no. 1 (Spring 2016): 3–28 ABSTRACT : Ludwig von Mises developed the theory of economic calculation in the context of his argument that the central planning of socialism cannot make economizing decisions concerning the use of resources in a division of labor economy. Focus on the problem of allocating