Regarding the item from the Jerusalem Post ( The Austrian School Flunks), I would only like to point out that even if investors realize (by studying the Austrian School teachings) that the rates are artificially low, they cannot help participating in the game because there is tremedous pressure (economic, financial, cultural) to do so; there is
Economics students all over the world learn Gresham’s Law in a severely distorted way. They are told that “bad money drives good money out of the market” as if that was a law of markets. It’s not. It’s a law (inevitable effect) of State intervention in the money market. Bad money drives good money out of the market only when the former is subject
[ From an interview with Hans-Hermann Hoppe conducted by Juan Fernando Carpio. ] Carpio: Why do economists in general not teach the role of saving for the economy? Hoppe: I agree with your assessment: In the economics profession today very little attention is given to the role of savings and very much, indeed overwhelming importance is attached
IP is the manifestation on creativity of an underlying Marxist theme: the labor theory of value . What if I discover/invent something but others market it first? What if they market it better? Am I not entitled to profits for my discovery or invention?Answering yes to the last question is what lies at the core of so called Intellectual Property.
Humans have discovered the ethics of liberty over and over again throughout history. Of course, an ethical system for rational animals has to take account of the dynamic aspects of conflict, and not just zero sum scenarios. All other species in the world are not characterized after a vigorous a) capability and b) need, for owning and creating
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.
