Mises Search

Austrian economics highlights the entrepreneur as the “driving force” of the economy. As a result, Austrian ideas are often at the cutting edge of new research exploring how entrepreneurs and innovators transform the world, and the many problems that result when public policy interferes with their work. However, there is sometimes confusion about

A few weeks ago I had the privilege of listening to Nobel Laureate Andre Geim talk about graphene , the wonder material he and Konstantin Novoselov discovered at the University of Manchester in 2004. Graphene is a layer of pure carbon so thin it’s essentially two-dimensional, and its structure gives it a number of other notable properties: it’s

Critics of Austrian macroeconomics often resort to strawmen when trying to challenge arguments against central banking, fiat money, and expansionary monetary policy. For example, it’s common to paint Austrians as doom-and-gloom prophets of economic collapse, with little to offer besides paranoid predictions of hyperinflations and monetary

James Bond is not a name that’s typically mentioned in discussions of humble foreign policy or the importance of enforceable property rights. Bond is a symbol of the dying power of the British Empire, and the general theme of his franchise is that the Empire isn’t going down without a fight. In particular, there’s a strong sense in the series that

The failures of socialist states are obvious and horrifying, yet there never seems to be a shortage of intellectuals eager to churn out new schemes for central planning. Malcolm Harris discusses the latest of these suggestions, which claims that the traditional economic problems of socialism can be resolved by harnessing the power of modern data

To support free markets is to invite criticism on virtually every policy issue. Whether it’s the minimum wage, gun control, or a hundred other topics, markets are constantly under attack, and the burden of proof always seems to fall on advocates of free choice to show that it’s superior to coercion. This can be exasperating; after all, a passing

I’ve noticed that the following Rothbard quote tends to circulate periodically amongst free-market groups: “It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a ‘dismal science.’ But it is totally irresponsible to have a loud and vociferous opinion on economic subjects

Science doesn’t happen in an economic vacuum. There’s no Platonic laboratory where “pure” science occurs independent of human ideas, motivations, and institutions. Like other parts of the economy, scientific inputs and outputs are influenced by a complex system of ideology, regulation, and monopoly , and consequently, science faces many of the

Quarterly Journal of Austrian Economics 18, no. 2 (Summer 2015) Symposium: Is There A Missing Element in Economics? ABSTRACT: John Mueller believes economics is fatally flawed because it cannot account for charitable love between persons. It therefore lacks an explanation of gifts, and thus, of “final distribution.” Mueller’s argument is

The skyrocketing price of Bitcoin has dominated the financial news for the past few weeks, and the usual suspects are queuing up to offer predictions about its continued rise or inevitable fall. Yet it’s not all good news for fans of the cryptocurrency: in a notable decision, the digital distribution platform Steam has announced that it will no