Sudha Shenoy (1943-2008) was a legendary figure in the history of the Austrian School. Her father, B.R. Shenoy, was practically the only libertarian in India in his day. His daughter, Sudha, was a student of Hayek and Rothbard and went on to teach in Australia, with a specialization in development economics. She inspired many students with her
F.A. Hayek said that his biggest regret in a lifetime of writing was that he never wrote a book-length refutation of Keynesian economics. He seriously doubted that Keynesian style planning would ever captivate governments, so he focused on different things. Economist Sudha Shenoy decided to rectify the problem. As a Hayek scholar, she noted that
If the current level of output and employment is made to depend on inflation, a slowing down in the pace of inflation will produce recessionary symptoms. Moreover, as the economy becomes adjusted to a particular rate of inflation, the rate must itself be continuously increased if symptoms of a depression are to be avoided: to inflate is to have “a
Americans are paying as much as $14.99 a lb for beef. This compares to $2.48-3.10 a lb in Australia (converting from $A per kilo.). One reason: US quotas on beef imports from Australia . “Since 1995, the US beef market has operated under a quota with county specific allocations to major supplies. Australia has a beef quota of 378,000 tonnes,
I’ve just come across the word coined for the first taxes imposed in early North India c.400 BC. They were known as ‘bali’ [rhymes with ‘gully’]. ‘Bala’ means ‘strength’; so ‘bali’ is ‘acquired by (superior)strength’ -
Christopher Westley’s article is solidly libertarian. But I should like to indicate here, some of the very real complexities of Iraq. 1. Iraq is not ‘composed of three nations, Shia, Sunni & Kurd’. ‘Shia’ & ‘Sunni’ are religious divisions, dating back to the 8th century, & found right through the Islamic world. Sunnis are in a large majority
The above are one of the parties fighting the General Election in Britain on the 5th May. Their ‘Manicfesto’ is delightful, although some references are veddy British: http://www.omrlp.com/ A sample: “All WMD’s (weapons of Mass Distraction) will be made highly visible so that we can find them.” “Any politician wanting to start a war will be
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.
