In this TED Talk, Rory Sutherland discusses the the value of Mises and praxeology in understanding the importance of subjective value and human psychology. View the Video here The Mises comments begin at
Working for the Volker Fund during the 1950s and early 1960s provided Murray Rothbard with the opportunity to read and write reviews and memos on hundreds of books on the social sciences, especially economic theory and political economy. Happily this amazing treasure trove of Rothbardiana is available in the Rothbard archives housed at the Mises
As Jeff Deist pointed out in an earlier post , in a national referendum over the weekend, the Swiss heroically and overwhelmingly rejected what would have been the world’s highest minimum wage. Switzerland currently has no minimum wage. The result was hardly unexpected, however, because the “Decent Wage” initiative was staunchly opposed by big
A very interesting post on the bionic mosquito blog elaborates the insights of Hans Hoppe and myself into a persuasive argument that the only reason that modern fractional-reserve demand deposits are accepted as money today is because of the federal deposit insurance guarantee backed up by the Fed as the monopoly money issuer and
Our money-printer-in-chief, Janet Yellen, gave the commencement address at NYU’s graduation ceremony in Yankee Stadium. She advised the 8,000 assembled graduates that it is ”an unfortunate myth” that “something called ‘ability’” has much to do with success. (Ability being an innate characteristic, it would of course have been politically incorrect
The fearless protectors of consumers at the Federal Trade Commission finally approved the takeover of men’s clothier Jos. A. Bank by Men’s Wearhouse last week. According to the terms of the agreement concluded way back on March 11, Men’s Wearhouse will pay $65.00 per share and a total of $1.8 billion for its smaller rival. The merger will
Slate carries a fascinating article by Fred Kaplan on Thomas Schelling’s role in the Cold War. I highly recommend Fred Kaplan’s book, The Wizards of Armageddon . It contains an insightful account of the central role the RAND Corporation played in the development of game theory. The RAND Corporation, formerly Air Force Project RAND (for Research
In the next issue of the Quarterly Journal of Austrian Economics , we feature a symposium on Towards a Pedagogy of Austrian Macroeconomics. The symposium originated from a session of the same title that was held at the Southern Economic Association meeting in November 2005 in Washington, D. C. The session emerged in response to widespread
Although an increase of the minimum wage cannot be directly passed on to consumers, it certainly will have indirect effects that reduce consumer welfare. First, since fewer laborers are now employed, aggregate production will be reduced and overall prices rise, driving down real wages and incomes of consumers. Second, and perhaps more importantly,
Last night Rutgers University, where the first college football game was played in 1869, won the biggest game in its history and the biggest college game in the NY metropolitan area since the Army-Notre Dame showdowns at Yankee stadium in the late 1940’s. Since the stadium is 10 minutes from my home and I received my Ph.D. from Rutgers, I have
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.
