Three months ago, the CEO of Gravity Payments, a Seattle credit card processing firm, announced that all of the firm’s employees would be paid a minimum of $70,000 a year, according to this story . Now, the firm has fallen on hard times, and some of the firm’s “higher valued” employees have quit. One employee who quit said, “He gave raises to
My book, Advanced Introduction to the Austrian School of Economics , is being translated into Korean, and the translator asked me to provide a short preface for the Korean edition. I’m reproducing it below, partly just to give my book a bit more publicity (it’s affordably priced, if you go with the paperback), partly to indicate how I see how the
Although Joseph Stiglitz has a reputation as one of the most prominent defenders of big government, I found much to agree with in his book, The Price of Inequality . It does appear to me that throughout the political spectrum, from left to right, there is a substantial consensus that government is the cause of many of the problems people perceive.
George Reisman writes in today’s Mises Daily : Furthermore, the higher the minimum wage is raised, the worse are the effects on poor people. This is because, on the one hand, the resulting overall unemployment is greater, while, on the other hand, the protection a lower wage provides against competition from higher-paid workers is more and more
Andy Duncan interviews the president of the Ludwig von Mises Institute, Jeff Deist. Topics for this discussion include Jeff’s vision for the Institute, how Austrian economics can help make people wealthier, and how to gain practical knowledge about the Austrian
Interviewed by Merlin Rothfeld and John O’Donnell, Associated Scholar Shawn Ritenour explains the truth behind the government’s economic data and the current macro market picture, and discusses the Fed’s current
Here is a link to the abstract of a peer-reviewed article in the American Journal of Agricultural Economics . (You may be able to download the full article. I could, from my university computer.) The abstract says, “It appears that news media and some pro-environmental organizations have the tendency to accentuate or even exaggerate the damage
I’ve just published a short book, Advanced Introduction to the Austrian School of Economics , which is designed to give people with some knowledge of economics an explanation of what ideas distinguish the Austrian school from mainstream economic thought. The paperback is relatively affordable ($22.36 if ordered on-line) . The book is much slimmer
Thomas Piketty’s book, Capital in the Twenty-First Century , has received lots of press and been reviewed dozens of times, so I’m not going to write a general review, but I do want to comment on his depiction of capital, contrasting it with a more Austrian approach. Piketty’s main conclusion is that the return on capital is greater then 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.