Milton Friedman has long accused Austrian economists, and Mises in particular, of “intolerance.” Indeed, this seems to be his main problem with the Austrian school. (At the 1992 meeting of the Mont Pelerin society, during a tribute to Hayek, Friedman even managed to get in a few pot-shots on Mises’s alleged intolerance.) Here’s how he put it in a
Prophetic words from Duke Law Professor Steven L. Schwarcz, writing in a symposium issue of the University of Cincinnati Law Review (Summer 2002): “Ultimately, the greatest danger of the Enron debacle is our possible overreaction, and consequent over-regulation. It’s human nature to overreact to dramatic events, like air crashes or, in this case,
From today’s Wall Street Journal: The Internet Boom Took Up Slack My analysis of the birth and death of the recent boom (” False Hopes for the Economy -- and False Fears ,” editorial page, June 3) is criticized by a proponent of Austrian cycle theory, Robert Batemarco (” The Credit Expansions that Fool Entrepreneurs ,” Letters, June 13). My
Old timers out there may remember this website , the oldest version of the Mises Institute home page stored at the Internet Archive . It was cached on October 18, 1996, about a year and a half after the site went live (the original URL was www.auburn.edu/~lvmises ). Browsing the site sure brings back fond memories!
Congratulations to Ed Stringham and Tom Woods, two of three junior faculty winners of the 2002-2003 Olive W. Garvey Fellowships . The essay topic was this statement by Richard Cobden : “The progress of freedom depends more upon the maintenance of peace and the spread of commerce and the diffusion of education than upon the labor of Cabinets or
From the June 2002 issue of the Journal of Institutional and Theoretical Economics (no. 158): Oliver Volckart No Utopia: Government Without Territorial Monopoly in Medieval Central Europe The paper examines the questions of how nonterritorial feudal governments in medieval central Europe emerged and what their tasks were, of how competition
The Washington Post reports that the 2002 Federal Register runs to 75,606 pages, up from 74,528 at the end of the Clinton Administration. Thank goodness the Bush Administration is “philosophically wedded to the idea of smaller government.” Posted by Peter G.
Debating the Socialist Calculation Debate: A Classroom Exercise ZENON X. ZYGMONT Western Oregon University - Division of Business & Economics http://papers.ssrn.com/sol3/papers.cfm?abstract_id=442620 Abstract: This paper describes a classroom exercise that introduces the Socialist Calculation Debate (SCD) to undergraduate economics students. The
The University of Missouri’s College of Business recently filled several endowed chairs. According to the college website, “Five of the endowed positions are funded through an estate gift made by Sherlock Hibbs, who graduated from the college in 1926. . . . His estate gift provided $5 million in support of three chairs and three professorships
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.