Regarding the nasty GDP report for last quarter, a Bloomberg reporter commented , “American consumers were a lone bright spot as households spent more to heat their homes and access health care.” In other words, if it were not for greater hardships that befell consumers, namely an unusually colder winter and a greater scarcity of health
ABSTRACT: Murray Rothbard developed the concept of decision-making rent as a return to a kind of unhirable labor performed by the entrepreneur in his role as owner and ultimate decision-maker of the firm. Rothbard conceived owner’s rent as separate from profit and loss and the decision-making function as concerned with productive organization and
Brian Maher of the Daily Reckoning quotes Murray Rothbard and me in his incisive critique of Modern Monetary Theory (MMT), which has lately been embraced by proponents of the “Green New
A Blockchain Study Finds 0.00% Blockchain Success Rate . The study reported also reported 0 vendor call backs when asked for evidence of implementation. Though Blockchain has been touted as the answer to everything, a study of 43 solutions advanced in the international development sector has found exactly no evidence of success. Three
[Presented at the “Panel on the Significance of Hans Hermann-Hoppe” at the 2019 Austrian Economics Research Conference.] I will recount a single episode which epitomizes Hans Hoppe’s singular approach to economic controversy. On May 14, 2009, a Mises Daily piece appeared by Hoppe entitled “The Yield from Money Held’ Reconsidered” . It was the text
Most economists, while recognizing the great 19 th -century French liberal Frédéric Bastiat as an outstanding economic journalist and a master polemicist for free trade and other liberal economic policies, have summarily dismissed him as an economic theorist. These include economists from Mises and Hayek to Schumpeter and Marx. Lately some
Steven Kates is an Australian economist and the author of Say’s Law and the Keynesian Revolution: How Macroeconomic Theory Lost Its Way and Free Market Economics: An Introduction for the General Reader , now in its third edition He has long been a perceptive and unrelenting critic of current Keynesian-style macroeconomics and an unabashed
There is good news and bad news regarding President Trump’s nomination of Judy Shelton for one of the two vacant positions on the Federal Reserve Board of Governors. The good news is that Ms. Shelton is not a technically trained academic economist, indoctrinated in the prevailing orthodoxy. She holds a doctorate in business administration from
Prominent economist and super successful textbook author Greg Mankiw writes : I have a confession to make: I love the Federal Reserve. And I suspect that, in their heart of hearts, most other economists love the Federal Reserve, too. But why this gushing profession of love by Mankiw for the Fed? Is it because the Fed provides valuable services to
Although this paper was presented as a lecture in 1996, I have chosen to publish it in this volume in nearly its original manuscript form. It was never previously published or posted electronically, but the paper achieved a limited circulation in manuscript form via copy and fax machines during the primitive days of the Internet. Despite its
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.
