[ Originally published in Volume 5, No. 1 (Spring 2002) of the Quarterly Journal of Austrian Economics .] A central theme of all schools of economics is the notion that goods are scarce. The extent of human wants and needs is sufficiently great that the means man would apply to those ends are limited, requiring that he choose among alternative
Volume 5, No. 1 (Spring 2002) The existence of and need for property is a consequence of scarcity, which is further affected by the very institution to which it gives rise. H owever, this “problem” in a sense sup plies its own solution, as ownership implies the ability to exchange, and con sequently , the emergence of exchange ratios in a
Volume 6, No. 3 (Fall 2003) Governments always attempt to exploit a crisis, and disasters provide a natural (no pun intended) excuse for them to do so. Their proffered “solutions” to problems(which they often create) invariably worsen those problems. As is the case with general standards of living, economic growth and development—in short,
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.