Entrepreneurship is a hot topic in academic, managerial, and policy circles. Yet researchers and policymakers tend to define entrepreneurship narrowly as business start-ups, and entrepreneurs as young dreamers with a particular personality. In fact, as Peter G. Klein argues, entrepreneurship is a far broader, pervasive, and more important
Now entrepreneurship classes are all the rage. While in real life government strangles businesses large and small everyday, the academic community has finally woken up to what creates wealth—entrepreneurial activity. This is a positive sign. And again it is an advancement for Austrian economics, as it has been the Austrian school that has focused
A trope of contemporary social commentary is that “science” has somehow become “politicized,” such that people no longer trust or believe what is presented as the scientific consensus on important social, political, and economic issues. The most salient example until recently was climate change, where various scientific professionals,
I can’t recall the last time I heard something on National Public Radio in defense of savings but, there it was, in this morning’s Marketplace segment on Karen Petrou’s new book Engine of Inequality: The Fed and the Future of Wealth in America . Savings, Petrou asserts, are the “engine of wealth accumulation.” Petrou, whose work has been discussed
I met Murray in 1988 and I will never forget the experience. The story begins the previous year, as I was completing my bachelor’s degree in economics at the University of North Carolina and considering pursuing a PhD. I was familiar with Murray’s writings as a semicloseted Austrian in a mainstream economics program. I had seen an advertisement
Peter G Klein is Carl Menger Research Fellow of the Mises Institute and W.W. Caruth Chair and Professor of Entrepreneurship at Baylor University’s Hankamer School of Business. He is also senior research fellow at Baylor’s Baugh Center for Entrepreneurship and Free Enterprise and adjunct professor of strategy and management at the Norwegian School
The 2021 Nobel Prize in Economics has been awarded to Berkeley’s David Card, MIT’s Josh Angrist, and Stanford’s Guido Imbens for their work on “natural experiments,” a currently fashionable approach to estimating the causal impact of one economic variable on another. Card, of course, became famous in and outside the profession for his 1994 paper
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.
