Volume 1, No. 3 (Fall 1998) The Review of Austrian Economics (RAE) recently published a review of my book Capitalism: A Treatise on Economics that, while praising my book to some extent, seriously misrepresents or altogether ignores major portions of it.[1] Since a full analysis of the review would require twice as much space as the review
Volume 3, No. 3 (Fall 2000) The essential reason that a 100-percent-reserve gold standard should be the ultimate goal of monetary reform is that is would secure the economic system against the evils both of inflation and of deflation-depression. In addition, it would be consistent with the fundamental moral-political principle of the absence
Volume 5, No. 2 (Summer 2002) A rational response to the possibility of large-scale environmental change is to establish the economic freedom of individuals to deal with it , if and when it comes. Capitalism and the free market are the essential means of doing this, not paralyzing government controls and “environmentalism.” Both in the
Volume 5, No. 3 (Fall 2002) Böhm-Bawerk is the most important Austrian economist after Ludwig von Mises . The author says this on the basis of the fact that his writings provide by far the best and most comprehensive development of the law of diminishing marginal utility and its application to price theory that is to be found anywhere. And
The Free Market 21, no. 4 (April 2003) The New York Times recently ran a three-part series on a string of tragic industrial accidents at facilities owned by McWane Inc., a large producer of sewer and water pipe based in Alabama. The series describes nine apparently needless and sometimes especially gruesome deaths, as well as several horrendous
The Free Market 26, no. 5 (May 2005) C onsiderable public discussion and debate now rages over Social Security and how to reform it. As the system currently stands, as early as 2018, it will be necessary to finance a growing portion of its outlays to retirees by means of outside sources of funds, since at that point the sums paid into the system
The Free Market 24, no. 5 (May 2006) The question that no one seems to be asking is: where would General Motors be without the government-backed unions that have come to dominate its management? The answer, of course, applies to Ford and Chrysler, as well as to General Motors. I’ve singled out General Motors because it’s still the largest of the
This article is also available as an Audio Mises Daily Many Americans, perhaps a substantial majority, still believe that, irrespective of any problems they may have caused, labor unions are fundamentally an institution that exists in the vital self-interest of wage earners. Indeed, many believe that it is labor unions that stand between the
Thomas Piketty, a neo-Marxist French professor, has written a near-700-page book, published by Harvard University Press. His book is titled Capital in the Twenty-First Century, in honor of Karl Marx’s nineteenth century Das Capital . It has been greeted with fervent applause from the left-wing intellectual establishment and has been on The New
My wife and I briefly visited China two years ago, as part of a cruise that started in Hong Kong and ended in Beijing. We spent a day in Shanghai and 4 days in Beijing. We had been to Hong Kong twice before and had been tremendously impressed by it. But we didn’t expect very much in mainland China. In fact, when the ship stopped in Seoul, Korea, I
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.