Volume 7, No.1 (Spring 2004) The fundamental idea behind this book, as its title suggests, is that innovation is the driving force behind the remarkable growth miracle of capitalism. Yet, Baumol notes, innovation is at best a peripheral part of the standard theory of the firm and has received only slightly more attention in modern growth
Volume 12, No. 1 (2009) In neoclassical theory, product differentiation provides consumers with a variety of different products within a particular industry, rather than a homogeneous product that characterizes purely competitive markets. The welfare-enhancing benefit of product differentiation is the greater variety of products available to
Randall G. Holcombe recently spoke with the Mises Institute about his new textbook Advanced Introduction to the Austrian School of Economics . Mises Institute: Why did you decide to write this book? Randall Holcombe: I received an inquiry from Edward Elgar, the publisher, asking me if I’d be interested in writing it, and I agreed. They wanted a
As an apparently war-minded people, Americans (or at least, our American political leaders) have been comfortable framing parts of the domestic policy agenda as wars for decades. Two of the most prominent have been the War on Poverty and the War on Drugs. Despite the similarity in their names, there is an important difference between the two. The
Although Joseph Stiglitz has a reputation as one of the most prominent defenders of big government, I found much to agree with in his book, The Price of Inequality . It does appear to me that throughout the political spectrum, from left to right, there is a substantial consensus that government is the cause of many of the problems people perceive.
George Reisman writes in today’s Mises Daily : Furthermore, the higher the minimum wage is raised, the worse are the effects on poor people. This is because, on the one hand, the resulting overall unemployment is greater, while, on the other hand, the protection a lower wage provides against competition from higher-paid workers is more and more
Andy Duncan interviews the president of the Ludwig von Mises Institute, Jeff Deist. Topics for this discussion include Jeff’s vision for the Institute, how Austrian economics can help make people wealthier, and how to gain practical knowledge about the Austrian
Interviewed by Merlin Rothfeld and John O’Donnell, Associated Scholar Shawn Ritenour explains the truth behind the government’s economic data and the current macro market picture, and discusses the Fed’s current
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.
