“We have progressively abandoned the freedom in economic affairs without which personal and political freedom has never existed in the past.” (F.A. Hayek, The Road to Serfdom ). Economic thinking today is divided into many schools of thought, such as the following : the Keynesians, the Post- Keynesians, the Rational Expectations School, the
Here is a news piece from Investor’s Business Daily (Nov. 23, 1998) dealing squarely with one of the most interesting monetary issues of the day. The author quotes some well-known Austrian economists to help sort it all out. Are the vast amounts of U.S. currency held overseas a threat to the U.S. economy? Whether for spending or saving, most
Barron’s October 19, 1998 Oh, Those Assumptions! An engineer, a chemist and an economist are marooned on an island ... . Maybe you’ve heard that classic joke, maybe you haven’t. But either way, it’s worth reviewing, since it bears direct relevance to the work of the 64-year-old Indian economist Amartya Sen, formerly of Harvard, currently at
From Gene Epstein of Barron’s Re: Paul Krugman’s piece, “The Hangover Theory”: I’m undoubtedly the unnamed journalist he mentions in his lead, since my recent article about him did take him to task for ignoring the Austrian theory of business cycles. Accordingy, I’d like to correct his arguments and even a few of his facts. Krugman is probably
Barron’s December 14, 1998 “A few weeks ago,” began a recent article by MIT economist Paul Krugman in the online magazine Slate , “a journalist devoted a substantial part of a profile of yours truly to my failure to pay due attention to the ‘Austrian theory’ of the business cycle -- a theory that I regard as being about as worthy of serious study
It’s Christmas again, time to celebrate the transformation of Ebenezer Scrooge. You know the ritual: boo the curmudgeon initially encountered in Charles Dickens’s A Christmas Carol , then cheer the sweetie pie he becomes in the end. It’s too bad no one notices that the curmudgeon had a point—quite a few points, in fact. To appreciate them, it is
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.