ABSTRACT: Murray Rothbard developed the concept of decision-making rent as a return to a kind of unhirable labor performed by the entrepreneur in his role as owner and ultimate decision-maker of the firm. Rothbard conceived owner’s rent as separate from profit and loss and the decision-making function as concerned with productive organization and
Brian Maher of the Daily Reckoning quotes Murray Rothbard and me in his incisive critique of Modern Monetary Theory (MMT), which has lately been embraced by proponents of the “Green New
A Blockchain Study Finds 0.00% Blockchain Success Rate . The study reported also reported 0 vendor call backs when asked for evidence of implementation. Though Blockchain has been touted as the answer to everything, a study of 43 solutions advanced in the international development sector has found exactly no evidence of success. Three
[Presented at the “Panel on the Significance of Hans Hermann-Hoppe” at the 2019 Austrian Economics Research Conference.] I will recount a single episode which epitomizes Hans Hoppe’s singular approach to economic controversy. On May 14, 2009, a Mises Daily piece appeared by Hoppe entitled “The Yield from Money Held’ Reconsidered” . It was the text
Most economists, while recognizing the great 19 th -century French liberal Frédéric Bastiat as an outstanding economic journalist and a master polemicist for free trade and other liberal economic policies, have summarily dismissed him as an economic theorist. These include economists from Mises and Hayek to Schumpeter and Marx. Lately some
Steven Kates is an Australian economist and the author of Say’s Law and the Keynesian Revolution: How Macroeconomic Theory Lost Its Way and Free Market Economics: An Introduction for the General Reader , now in its third edition He has long been a perceptive and unrelenting critic of current Keynesian-style macroeconomics and an unabashed
Prominent economist and super successful textbook author Greg Mankiw writes : I have a confession to make: I love the Federal Reserve. And I suspect that, in their heart of hearts, most other economists love the Federal Reserve, too. But why this gushing profession of love by Mankiw for the Fed? Is it because the Fed provides valuable services to
In consecutive issues of The Freeman , Richard Timberlake has contributed an interesting trilogy of articles advancing a monetarist critique of the conduct of U.S. monetary policy during the 1920s and 1930s. In the first of these articles, Timberlake disputes the late Murray Rothbard’s “Austrian” account of the boom-bust cycle of the 1920s and
Capitalism breathes through those loopholes . ~Ludwig von Mises I. Introduction A little noted aspect of the media brouhaha that erupted in the wake of Amazon’s reneging on its deal to locate part of its headquarters in New York City was that almost all participants, pro or con, routinely referred to the tax breaks included in the deal as
In the last decade or so, a handful of Austrian economists have been aggressively promoting a strange story of the postwar development of the Misesian tradition. In their telling, Friedrich Hayek and Israel Kirzner were busily developing Mises’s approach to economic theory and method when Murray Rothbard showed up and shunted the methodological
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.