How Economics Professors Can Stop Failing Us Steven Payson Lanham, MD: Lexington Books, 2017, xiii + 372 pp . Steven Payson, the author of this provocatively title book, is a former career federal government economist who has the temerity to argue that economics could be a useful science if mainstream academic economist theoreticians would simply
Volume 6, No. 1 (Spring 2003) Every economist who regards himself or herself as a free-market theorist and advocate should acquire, read, and retain this paean to planning and interventionism as a valuable reference—especially if he or she is also a political libertarian. There are four good reasons: (1) it names names and carefully chronicles
Volume 6, No. 2 (Summer 2003) In light of the argument presented in the present paper, it is difficult to avoid the speculation that the main argument that Hayek either half accepted or regarded as exaggerated and one-sided—at least until 1945—was, in fact, the argument that economic calculation is not possible under socialism because, either
A fascinating movement that has been swelling for weeks via the blogosphere is the “Not One Damn Dime” campaign. Here is one of a thousand postings of this. The idea is to withhold all spending on January 20, Inauguration Day, in protest against the Iraq War. The question is whether this is an effective campaign or whether people who oppose the
An email called “ A Day in the Life of Joe Republican “ is making the rounds via a thousand blogs. It is designed to illustrate how the middle class benefits enormously from big government and is too stupid to realize it. In response, I began the following alternative “Day in the Life”: Joe gets up at 6 a.m. and fills his coffeepot with bottled
Volume 12, Number 4 (2009) So, what is “the enduring significance of Robbins” — the title of this article. For me, it is the stimulus given by Robbins’s Essay for reflection on the uniqueness of the Misesian conception of our subject. Only then can one see its resultant immunity from the critical brickbats hurled Robbins’s way since 1932.
Volume 16, No. 4 (Winter 2013) ABSTRACT : This paper summarizes and compares the theories of entrepreneurship of Joseph A. Schumpeter and Israel M. Kirzner as presented in their major scholarly contributions to economic analysis. It is argued that Kirzner’s theory of entrepreneurial action as “the driving force of the market” contributes greatly
The Free Market 19, no. 1 (January 2001) Earlier last year (February 17) in testimony before the House Banking Committee, Alan Greenspan argued that increases in productivity tend to create greater increases in aggregate demand than in potential aggregate supply. His reasoning was that productivity increases stimulate optimistic corporate
Volume 11, No. 1 (2008) The author wishes to convince the intelligent general public that contemporary neoclassical economics is not only virile, rather than sterile, but is of crucial importance for public policy. Her book seeks to change the non-economist professional’s belief that “economics is too narrow in its focus, caring only about
Alan Greenspan’s recent words and Federal Reserve Board actions to raise nominal interest rates have left many economists and financial analysts wondering if they are on the same planet he inhabits. Especially puzzling was his appearance before the House Banking Committee on Thursday, February 17, 2000, and his March 6 Boston College
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.