Not every criticism of markets or property rights is socialist. This point might seem obvious, but it often gets lost in the incessant social media shouting matches that surround economic policy. In free-market circles, just about every government intervention these days is dismissed as “socialist,” with the predictable result that the term has
Wherever there are entrepreneurs finding new ways to earn money, it’s a safe bet government regulators won’t be far away. So it is with the online entrepreneurs known as “influencers.” Internet personalities like PewDiePie build enormously successful businesses using little more than a microphone and some video equipment, and naturally, government
Libertarians are often skeptical about the idea of class struggle. This is no surprise, given how closely associated it is with Karl Marx. However, Marx did not originate the theory of class conflict, which was actually developed by the French liberals in the 19 th century. In fact, it was classical liberal intellectuals in France, England, and
Just over a century ago, in August 1914, the major European nations plunged their peoples into one of the most disastrous conflicts in history. The First World War claimed at least seventeen million lives, destroyed the social and economic fabric of Western Europe, and played a vital role in the expansion of state power around the world. It is
China’s rise to the status of global economic power has invited enormous interest in its cultural and political heritage. Historians tend to be fascinated by China’s erratic economic progress and rich history of innovation, each of which have, at different times, both outpaced and lagged behind developments in Western Europe. In particular, many
Donald Trump’s decision to escalate the war in Afghanistan highlights once again the disastrous, persistent consequences of militarism and imperialism. However, rather than repeat the usual litany of horrors that are sure to result, I will instead recall a discussion of war by Trump’s literary opposite, William Shakespeare. Shakespeare can be
This Sunday the long awaited seventh season of Game of Thrones will premier on HBO. Two Mises Institute scholars, Matthew McCaffrey and Carmen Elena Dorobăț, have written extensively on the economics of the series, noting that : George R.R. Martin’s story touches on a variety of economic issues, from the implications of not having an economic
Many in Manchester are still reeling from the May 22 nd suicide bombing that killed 23 people and left dozens more injured. Since then, thousands have come to visit a memorial in St. Ann’s square , a short distance from the site of the attack, to place flowers or to offer prayers for the victims and their loved ones. Such a peaceful response is
William Baumol, former professor of economics at Princeton and NYU, has passed away at the age of 95. Throughout his long career he contributed to many fields in economics, and he leaves behind an influential body of research on numerous topics relating to innovation and economic growth. He will mostly likely be remembered by Austrians, however,
[ Editor’s Note: Bylud and McCaffrey have a new article in the Journal of Business Venturing . The executive summary is below and the full article is available online for a limited time. ] Highlights We investigate the relationship between entrepreneurs and uncertainty. We clarify the structure of entrepreneurial action with respect 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.
