Game theory can be fun and interesting. It’s central to current mainstream research in industrial organization and corporate strategy. It’s been taught to a generation of MBA students. Unfortunately, according to FastCompany, nobody in business actually uses it . (Hat tip: Nicolai Foss
From Forrest McDonald’s Recovering the Past: A Historian’s Memoir (University Press of Kansas, 2004), p. 119: So enamored did historians become [after Fogel and Engerman’s Time on the Cross appeared in 1974] with the riches to be mined through cliometrics that a generation experimented with the technique. Little of consequence was learned as a
“Marriage is a naturally occurring, pre-political institution that emerges spontaneously from society,” writes Jennifer Roback Morse in the April-May 2005 issue of the Hoover Institute’s Policy Review. “Western society is drifting toward a redefinition of marriage as a bundle of legally defined benefits bestowed by the state. . . . The organic
Twenty-five years after Julian Simon and Paul Ehrlich made their famous bet , people still don’t get it. “Two-Thirds of World’s Resources ‘Used Up,’” screams the headline in today’s Guardian (highlighted by Drudge). “The human race is living beyond its means. A report backed by 1,360 scientists from 95 countries — some of them world leaders in
Though there are undoubtedly many candidates. Excerpts from a letter in today’s Wall Street Journal, by Professor Luis Suarez-Villa of the School of Social Ecology at UC-Irvine: Harvard President Larry Summers is now discovering what many economists find out to their dismay when they venture out of the old-boy network that is American economics.
And none too sympathetically. Curiously, after largely agreeing with the authors that the perfectly competitive model does not constitute a reliable welfare benchmark, that antitrust practice has often missed the mark, that entrepreneurs have a moral claim to the wealth they create, and so on, but criticizing the polemical style of the book, the
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.