There was a watershed in the history of economic ideas in the twentieth century, particularly ideas dealing with the relationships, in the aggregate, between money wage rates, price levels, and employment. This watershed occurred not quite a third of the way through the century and was derivative from the dramatic sequence of events known as the
Vol. 10, No. 2 (YEAR) It took seven decades, but most people now accept what Ludwig von Mises explained three quarters of a century ago, namely, that centrally directed socialistic economies cannot succeed in coordinating vast numbers of interrelated decisions, in large part because of the information problem arising from non-market forms of
Volume 14, Number 4 (Winter 2011) It is suggested in Daniel Kuehn’s article in this issue (2011) that MacKenzie (2010) is wrong about Hoover’s effectiveness in pushing a high wage policy that caused high unemployment. About 80 percent of the argument is predicated on the proposition that modern empirical work by others (not the author) shows
Volume 19, Number 1 (Spring 1999) An Interview With Richard K. Vedder Richard K. Vedder is professor of economics at Ohio University and an adjunct scholar of the Ludwig von Mises Institute. He is the author of Out of Work: Unemployment and Government in Twentieth-Century America and Poverty, Income Distribution and the Family, and Public Policy
Richard Vedder, professor of economics at Ohio State University, teaches at the annual Mises University, an instructional seminar in the Austrian School for undergraduates and graduate students, sponsored by the Ludwig von Mises Institute. In this piece, Professor Vedder identifies some structural problems in conventional university settings, and
With the personal savings rate at historic lows, consider the comments of Richard Vedder , who offers an Austrian perspective on these data (from the Spring 1999 Austrian Economic Newsletter ): AEN : What do you make of the Commerce Department’s data showing historically low savings? VEDDER : It is true that the rise in equity prices have made
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.