To understand economics is to understand the practical case for freedom. The great merit of this book is to bring out the connection in the clearest and shortest possible way. The Concise Guide To Economics is a handy, quick reference guide for those already familiar with basic economics, and a brief, compelling primer for everyone else. Professor
My impression is that most Americans when hearing the term “secession” think of the War Between the States, or as it’s usually referred to, The Civil War, and so conjure up a bloody multiyear event when any consideration of secession arises. But secessions are in fact, often peaceful with both sides accepting the parting of ways (just as couples,
Years ago I joked that every economist’s highest goal was to have a graph or concept named for him or her. Among the existing ones are the Keynesian Cross Graph, the Edgeworth Box , the Phillip’s Curve, the Laffer Curve, Rothbard’s Law, Buridan’s Ass, Mises’s Butler, Hume’s Specie-Flow Mechanism, Rostow’s Stages of Growth, the Ricardo Effect,
A popular poster depicts four cows standing in the corners of their respective fields at the intersection of two barbed wire fences. Each of the four cows has stretched her neck through the wires to reach the grass in another cow’s field. The poster invokes a humorous reaction from most observers. To most it would illustrate the phrase that “the
“In the long run we are all dead.” This famous retort of the most influential economist of the twentieth century, John Maynard Keynes, was meant as a rebuttal to the views of the classical or free market economists. The entire quote reads: But the long run is a misleading guide to current affairs. In the long run we are all dead. Economists set
A microeconomics principles class presents professors with the opportunity to at least briefly explain the economic calculation problem. Almost every text spends a page or two on the production function — the relationship between inputs and outputs by a firm. Here is the relevant data and graphs from one such text. The professor can ask 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.
