One contention in the world of politics and academia alike is that money can have a big affect on what people say and do. Specifically, the idea is that money buys votes , money buys influence, and that research grants similarly buy ideological bias in the academic community. You’ve surely seen the kinds of allegations. Pro-abortion research is
Reading Nassim Nicholas Taleb, the student of Austrian economics finds much to like. Taleb’s clear, razor-sharp and ruthlessly unqualified commentary often reminds the reader of Mises – indeed even the content of his ideas is sometimes strikingly Misesian. In exploring an argument, Taleb frequently follows it to its logical conclusion whether or
A famous adage of questionable origin reads something like this: you can fool all people some of the time, or some people all of the time, but never all people all of the time . The strand of modern economics called ‘ behavioral economics ’ makes its living on occasionally fooling some people and wrapping the results in daunting mathematical
In my previous post we saw some of the areas where Taleb’s writing is strikingly Misesian: the hidden value and emergent properties of spontaneous orders, the insightfully realistic view of uncertainty and risk-taking, and the aggressive despising of econometrics and other unproper uses of math in the domain of economics. So far the similarities.
In the same year that the Bank of England was created – 1694 – John Law became a fugitive. He killed a man in a duel, was thrown in prison awaiting execution, and escaped to Europe. After some years of gambling his way through the European courts and writing surprisingly prescient texts on monetary economics he landed in France. One of history’s
Es bastante fácil imaginar que la izquierda regresiva tenga una preferencia de tiempo infantilmente alta; ven algunas enfermedades sociales actuales (personas sin hogar, baches , deudas estudiantiles, desigualdad) y quieren que sean abolidas de inmediato. Si su posición es: «resuelva el problema ahora , al diablo las consecuencias futuras», usted
Los bancos brindan servicios de un valor incalculable a una economía monetaria, muchos de los cuales la literatura económica ha estado discutiendo durante mucho tiempo: bajo la división del trabajo, los bancos se especializan en acumular ahorros y ponerlos en práctica. Los banqueros, en parte debido a la información no pública, están en una mejor
Los animales son un tema curioso en las finanzas, y los encontramos por todas partes. Describimos los mercados al alza, a la baja o en movimiento lateral como mercados de toros, osos o de ciervos. Tenemos estrategias de inversión (»Los perros del Dow, en inglés Dogs of the Dow ») y comportamiento de negociación bursátil ( »rebote de gato muerto» )
Capitalism in America: A History Alan Greenspan y Adrian Wooldridge Nueva York: Penguin, 2018, 486 pp. Joakim Book (j@joakimbook.com) es un estudiante graduado de la Universidad de Oxford. Quarterly Journal of Austrian Economics 22, no. 1 (primavera de 2019), edición completa, haga clic aquí . ¿Qué podría salir mal cuando un ex presidente de la
Usar números para describir el mundo está lleno de peligros. El problema no es que se pueda probar nada con estadísticas (no puedes) o con la ocurrencia de Mark Twain de equiparar las estadísticas con mentiras, sino más bien que los números no acompañados de puntos de referencia correctos tienden a ser muy engañosos. La famosa cita de Hayek donde
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.