This year's Nobel prize laureates in economics may have unwittingly laid the foundation for a retardation rather than an advancement of the economics discipline. There is not the slightest analogy between playing games and the conduct of business within a market society.
Most academics in the social sciences assume that civilization is saved by attacking such antiquated and anti-egalitarian notions as property rights and freedom of association, writes Chris Westley. This is notable because universities used to be concerned with the business of discovering and teaching the truth.
The Austrian School was born in a liberal-arts environment of the high middle ages, writes Jeffrey Herbener. In that tradition, what is needed is for the independence and devotion to the truth so evident in the the work of the Mises Institute to become the model for mainstream educational enterprises in which students receive their under-graduate degrees.
From admissions through prelims to dissertation, Art Carden recounts his own experience and mistakes, so far, on his way to obtaining an economics PhD. He offers advice for anyone interested in doing so while pursuing an Austrian-style research program.
Those who have written in favor of distributism on moral grounds appear to revel in their ignorance of economics--as if a discipline devoted to the application of human reason to the problems of scarcity in the world could actually in itself be antagonistic to ethics and faith.
Robert Murphy on the Pledge controversy: Those truly concerned about protecting individual dissenters from the tyranny of the majority should lobby for the removal of the word "indivisible" from the pledge. The classical liberal doctrine of self-determination is the only way to achieve limited government and lasting social peace.
Individuals and foundations have sunk millions of dollars into D.C. "think tanks" and seminars, writes William Anderson, in hopes of teaching economics to those who are in positions of political leadership. Lest we be tempted to think this is working, read the latest U.S. Senate "investigative report" on oil prices. The political classes and their media allies have cooked up yet another conspiracy theory on the evils of private enterprise.
Standardization in education is not a virtue, but a vice with immense consequences.
Instead of incorporating the agenda of those who would malign free enterprise, business schools should do more to educate tomorrow's corporate executives about the myriad ways in which business advances social progress.
