Did someone recently flip a switch? It seems as though Wokeism, the Great Reset, ESG, DEI, and an assortment of other radical left-wing positions, have just taken over. It is in the movies, media, sports, finance, retail businesses, and even in the beer industry. Yet, it is not a uniquely American phenomenon. Wokeism is a part of the international
The Free Market 17, no. 5 (May 1999) Murray Rothbard once asked Ludwig von Mises at what point on the spectrum of statism can a country be designated as “socialist.” To his surprise, Mises said that there was, indeed, a clear-cut delineation: the stock market. Mises said, “A stock market is crucial to the existence of capitalism and private
The Free Market 18, no. 1 (January 2000) A common misconception in popular thinking about business is that companies need to be helped along and supported by government. If a community fails to help business, it is said, it will miss out on jobs and prosperity. We see this happening across the country. Cities use public funds to build sports
Lionel Robbins writes concerning deflation (”Consumption and the Trade Cycle,” Economica , Volume 12, [35-38], November 1932, pp. 418):”the belief that there is nothing detrimental to the smooth working of the economic machinery in the changes which result in a consumers’ goods price index falling with increased productivity, is not the esoteric
Volume 1, No. 2 (Summer 1998) Arthur Hughes, in a recent article in the Review of Austrian Economics, [1] seeks to apply the Austrian theory of the business cycle to the recession of 1990. In submitting his case, Hughes presents the Austrian business cycle theory and applies it to the evidence he has gathered. This comment focuses on the
I recently finished reading a book on the South Sea Bubble. I was surprised at how fascinating it was. I have heard of the South Sea Bubble before, but I couldn’t really tell you much about it. I knew that it happened in the early 1700s and there was also something called a Mississippi Bubble. However, I couldn’t make a distinction between the
Volume 11, No. 1 (2008) The Austrian business cycle theory ( ABCT ) has been criticized for not being a true theory of the business cycle. The main emphasis of the ABCT has been on the theory of the upper-turning point—the artificial expansion of credit, the manipulation of interest rates, the malinvestments committed by entrepreneurs and
Murray Rothbard once asked Ludwig von Mises at what point on the spectrum of statism is the point that designates a country as “socialist.” To his surprise, Mises said that there was, indeed, a clear-cut delineation: The Stock Market. Mises said, “A stock market is crucial to the existence of capitalism and private property. For it means that
Recently our campus has been hit with a silly e-mail calling for a “gas out.” Well, not being able to let such ignorance of economics to remain, I wrote a reply that was very well received. However, a religion professor wrote back saying that he agreed the boycott may not work, but of course, we need price controls. I couldn’t resist a good
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.
