Presented at Mises Boot Camp, a one-day seminar for anyone seeking to learn the fundamentals of the Austrian school. Download the Syllabus . Recorded at the Mises Institute in Auburn, Alabama, on 25 July
Volume 18, Number 1 (Spring 2105) ABSTRACT : This is a brief reply to “The Marginal Efficiency of Capital: Rejoinder.” I explain that I never intended to defend Keynes against Fuller’s (2013) criticism. Rather, I intended to highlight that Keynes’s conclusions rest on a key shortcoming in Keynes’s theory: the assumption of sticky factor prices.
Volume 17, No. 4 (Winter 2014) KEYWORDS: John Maynard Keynes, marginal efficiency of capital, net present value, interest rates, central banking JEL CLASSIFICATION: E12, E22, E52, In his recent article, Edward W. Fuller (2013) compared the Keynesian Marginal Efficiency of Capital approach with the Austrian Net Present Value approach. While his
[Originally Presented as the Hans Sennholz Memorial Lecture at the 2015 Austrian Student Scholars Conference , Grove City, Pennsylvania] “Sound money and free banking are not impossible — they are merely illegal. Freedom of money and freedom of banking are the principles that must guide our steps.” — Hans Sennholz When I was asked to give the Hans
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.