That’s the title of a new working paper by Per Bylund and me. It’s forthcoming in a special issue of the Review of Austrian Economics devoted to the contributions of Israel Kirzner. The Place of Austrian Economics in Contemporary Entrepreneurship Research Peter G. Klein and Per L. Bylund December 5, 2013 Abstract: We review the place of Austrian
Nelson Mandela, public face of the anti-Apartheid movement and South Africa’s first post-Apartheid president, has died. Much will be written about Mandela in the coming days, but little of it will deal directly with the Apartheid system, particularly its economic aspects. Apartheid is widely misunderstood as a system based purely on racial
Mike Konczal objects to the typical sequence of a first-year economics curriculum: a semester of microeconomics, studying individuals, firms, and markets, followed by a semester of macroeconomics, looking at the economy as a whole. Austrian economists generally reject the artificial distinction between micro and macro, as taught in the mainstream
Thanks to Felix Salmon for quoting me in his take-down of this embarrassing NYT piece on Craig Pirrong and Scott Irwin, two well-known economists who study commodity-market speculation. Basically, the reporter dislikes speculation (which he clearly doesn’t understand), so he assumes any expert with a different view must be a hired gun for various
This interview with Walter Block is a little old (May 2013), but we haven’t linked to it before. Some highlights of the interview include: Block contrasts Austrian economists as philosophers compared to “ normative “ economists which he characterizes as ethicists and empiricists. He highlights praxeology, the study of human interactions, as a
Philipp Bagus and Andreas Marquart have co-authored a new introductory text on monetary policy for German-language readers. Here’s a brief description: In Warum anderen auf Ihre Kosten immer reicher werden - und welche Rolle Staat und Papiergield dabei spielen (transl. Why You Pay For Others to Get Richer - And What the Government and Paper Money
by Llewellyn H. Rockwell, Jr. As 2013 draws to a close, let’s pause to recall some important developments for the cause of liberty – some of which you already know well, and others you’ll be hearing about for the first time. Edward Snowden . After sitting on the Bush-era warrantless wiretapping story for 18 months, the New York Times revealed a
The Free Market 31, no. 3 (March 2013) During the 2012 presidential campaign, President Obama made his now famous claim that “you didn’t build that” in reference to the infrastructure that businesses use to provide goods and services to customers. These comments were controversial, but Obama’s defenders quickly noted that Obama was not
The British students demanding more Keynes and Marx have been joined, predictably, by British academics -- specifically, the self-described “post Keynesians” who think that mainstream economics isn’t Keynesian enough. Listen to this radical agenda : “The post-Keynesian approach emphasizes the central importance of aggregate demand in the
In today’s feature on the US housing market, an NPR correspondent sadly notes that foreclosure victims are “trapped” in rentals. Why, those poor, unlevered souls, choosing to purchase a flow of housing services over time, rather than buying a huge, illiquid housing asset outright, using borrowed funds. Tragic! It made me think of similar
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.