ABSTRACT: Murray Rothbard developed the concept of decision-making rent as a return to a kind of unhirable labor performed by the entrepreneur in his role as owner and ultimate decision-maker of the firm. Rothbard conceived owner’s rent as separate from profit and loss and the decision-making function as concerned with productive organization and
Volume 11, No. 3 and 4 (2008) Mises, Friedrich Hayek, and Murray Rothbard were the main architects of the distinctly Austrian theory of production as it exists today. All three conceived the entrepreneurial function in the actual market economy as presupposing the ownership of property, specifically capital. Yet, many, if not most, contemporary
A Man of Principle: Essays in Honor of Hans F. Sennholz John W. Robbins and Mark Spangler, eds. Grove City, Pennsylvania: Grove City College Press, 1992. An important contributing factor to the resurgence of Austrian economics in the 1970s was the appearance of a handful of articles which drew the attention of the economics profession
[Introduction to the Second Edition of Man, Economy, and State with Power and Market ] Murray Rothbard began work on this magnum opus on January 1, 1952. [1] On May 5, 1959 Rothbard wrote to his mentor, Ludwig von Mises, informing him, “È finito!” [2] The more-than-seven years that it took Rothbard to complete Man, Economy, and State elapsed
“So let us not talk falsely now, the hour is getting late.” (Bob Dylan, All Along the Watchtower, 1967) In his first interview in almost three years , a contemplative, septuagenarian Bob Dylan expresses, among other things, an appreciation for entrepreneurs as virtuous job creators and for voluntarism as the organizing principle of a prosperous
Earlier this week I returned a pair of indoor/outdoor heated slippers that I purchased online from a niche retailer as a Christmas present for my wife. The problem was that they resembled outdoor boots more than they did indoor slippers. As I started to search for the retailer’s policy on returns, I steeled myself for a time-consuming and costly
[ Review of Austrian Economics , 6(2), 1993, pp. 113-146] A Man of Principle: Essays in Honor of Hans F. Sennholz John W. Robbins y Mark Spangler, eds. Grove City, Pennsylvania: Grove City College Press, 1992 Un importante factor contribuyente en el resurgimiento de la economía austriaca en la década de 1970 fue la aparición de un puñado de
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.