When I think of all the worries Keynesians seem to find And how they’re in a hurry to complicate their minds By chasing after money with nothing else in view Austrians are different, we see the problem through (sung to “Let’s Live for Today,” with apologies to the Grassroots) In a recent series of blog posts on the meaning of saving, Bob Murphy
George Selgin has written an interesting post on Hayek and free banking . Unfortunately, his otherwise instructive post is marred by a few lapses of scholarship. In a nutshell, Selgin credits Hayek with inspiring him and others to create the “Modern Free Banking School.” Selgin argues that Hayek was a life-long opponent of free banking,
Austrian economists dominate the Money and Monetary Policy bestseller list for Kindle downloads . Mises’s The Theory of Money and Credit is ensconced in 2nd place. Friedman and Schwartz’s A Monetary History of the United States is in 4th place sandwiched between Rothbard’s The Case Against the Fed in 3rd place and Mises’s Human Action in 5th
In the current discussion about immigration, Ludwig von Mises is often invoked by libertarians as a staunch proponent of free trade in the broad sense that pertains to the free movement of goods, capital, and labor. Mises has even been proclaimed by some libertarians as an advocate of open borders. However, Mises’s views on the free migration of
Editor’s Note: For years, Joseph Salerno’s important essay “Ludwig von Mises As a Social Rationalist” was available only in old PDF versions. Now, it is available in an HTML version that is easier to read and use for research purposes. The essay presents a lengthy and enlightening analysis of Ludwig von Mises’s social theory and his views on the
Rumor has it that the political elites of Euroland are contemplating a tax on withdrawals from ATMs . Needless to say, the banks are pleased as punch at the prospect, because it will impede the bank runs that reveal their inherently illiquid status.
JEFF DEIST: How does a kid from New Jersey get interested in economics, much less decide to get a PhD? JOE SALERNO: Well, I didn’t really plan it. I think it all began back in fifth grade when my mother’s cousin visited from Italy, and during the course of conversation, he revealed that he was a member of the Italian Communist Party. My father,
This interview was originally published in the March 2018 issue of the Lara-Murphy Report. Lara-Murphy Report: We ultimately want to ask you about the latest readings on the “true money supply” calculation, but before we do that, can you first explain to our readers why there are different concepts about “the money supply” in the first place? We
Argentina suffered yet another so-called “currency crisis” last week. On Thursday and Friday the Argentine peso (ARS) depreciated 9% against the U.S. dollar (USD), falling from roughly 20.50 ARS per USD to 22.25 per USD. To stem the slide of the peso, Argentina’s central bank increased its target interest rate (the 7-day repo reference rate) from
Surprise, surprise! With the peso continuing to drop like a stone against the U.S. dollar, Argentina has appealed to the IMF for emergency credit. In requesting the bailout, President Macri cited the sudden emergence of global factors beyond his control for the current plight of the peso. During the first two years [of his administration] we
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.
