Congratulations to Israel Kirzner who received the Distinguished Fellow Award from the History of Economics Society at its 2018 annual meetings held in Chicago this past weekend. The Society confers the honor of “Distinguished Fellow” on “those who have contributed a lifetime of study to the history of economics.” In receiving this honor,
In 2006, Venezuela’s president Hugo Chavez declared: There is a market that can be reactivated through barter and not through currency. Let us break that curse [of capitalism]. Well, twelve years later barter is indeed replacing currency transactions throughout the economy but with hardly the results that the late socialist dictator envisioned.
The title of this post — minus the reference to Finland — is shamelessly copped from a prescient essay that Ludwig von Mises wrote in 1953. In his article Mises pointed out that in Great Britain and Europe, the system of progressive taxation was already confiscating nearly the entire “surplus” incomes of the successful capitalists and
A star high school basketball player was incidentally mentioned in an FBI probe because he was allegedly paid $15, 000 for “committing” to play for the University of Arizona. The student has recently committed to another university but may be ineligible to play college basketball next year. A study in 2011 estimated that the average college
To follow up on Peter Klein’s post today, the dehomogenization debate of the last few decades was actually initiated by a radical reinterpretation of the socialist calculation debate of the 1930s published by Israel Kirzner in 1988. Prior to Professor Kirzner’s seminal article, “ The Economic Calculation Debate: Lessons for Austrians ,” it was
The Swedish government and its central bank have long been in the vanguard of the war on cash. Now they are suddenly having second thoughts about its potential outcome. The value of notes and coins in circulation has crashed to its lowest level since 1990 and now stands at 40% below its level in 2007. “No cash” signs are popping up everywhere
Jeffrey Peshut at RealForecasts.com has composed several very illuminating graphs based on the Rothbard-Salerno True Money Supply (TMS). In one graph Peshut shows the collapse of the growth rate of TMS beginning at the end of 2016, which was caused by the Fed beginning to raise the fed funds target rate at the end of the preceding year. What is of
The Free Market 27, no. 6 (June 2009) The Summer Fellowship Program has grown by leaps and bounds since its founding by Professor Guido Hülsmann in 2000. This year the program includes eighteen young men and women from the United States, Canada, Germany, Spain, France, Turkey, Denmark, Poland, and the Czech Republic. Their disciplines range
The Free Market 28, no. (July 2010) When the first Austrian Scholars Conference was held in 1992, we were at the very beginning of the Great Bubble Economy, brought to you by Alan Greenspan and Ben Bernanke and their associates at the Fed. This shiny, bubbly “new economy” has finally gone the way of all bubble economies in history, deflating
The Free Market 30, no. 6 (June 2012) The following is a testimony before the U.S. House Committee on Financial Services, Subcommittee on Monetary Policy (Chairman: Ron Paul). Dr. Salerno was able to give this testimony thanks to the generous support of Mises Institute donors. Chairman Paul and members of the Subcommittee, I am deeply honored to
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.
