The Free Market 26, no. 9 (September 2005) I f you are like me, you love Austrian economics—the logic, the rigor, the explanatory power. But we all know that this is not the usual approach to economics taken at the university level. If you can’t attend the Mises University, where can you go to study the subject systematically? Over the summer, I
In an effort to spice up the otherwise dreadfully boring section in my micro class on different industry types (price takers vs. searchers, oligopoly, etc.), I always have an “experiment” to demonstrate the difficulties of cartel formation. These aren’t controlled experiments so I don’t bother keeping accurate figures, but I can share some
The June 26 ruling by a 9th Circuit appeals court that the phrase “under God” is an unconstitutional endorsement of religion in public schools has reignited the familiar debate in American politics on the proper balance between the rights of minorities and the desires of the majority. Advocates of the ruling are predictably hailing it as
Because of their minority status, most budding Austrian economists must endure graduate training in the mainstream orthodoxy before earning their Ph.D.s. As a recent graduate of New York University, I thought it might be useful to highlight some of the major differences I perceived between Austrian economics and the neoclassical, New Keynesian
An article in the April 5 issue of Time reminds us how deeply ingrained collectivist habits of thought are in this country. The piece deals with the Chicago school board’s decision to stop holding back (or “flunking” as it used to be called) so many students. The article begins like this: Eight years ago, Chicago moved to end social promotion of
I love to read economist Steven Landsburg, even though I almost always disagree with him. In the present article, I’ll focus on a chapter from Landsburg’s forthcoming book entitled “More Sex Is Safer Sex,” which could pass as a parody of economic analysis worthy of Swift. As I will explain more carefully in a moment, Landsburg argues that the way
Say what you will about Levitt and Dubner, but they sure know how to sell a book. The co-authors (Steven D. Levitt and Stephen J. Dubner) of Freakonomics (William Morrow, 2005) apparently sent early copies to influential bloggers, they set up their own promotional blog , they just had an op-ed (based on a book chapter) in USA Today , and—honor of
If you are like me, you love Austrian economics — the logic, the rigor, the explanatory power. But we all know that this is not the usual approach to economics taken at the university level. If you can’t attend the Mises University, where can you go to study the subject systematically? Over the summer, I worked with the staff at the Mises
[This Study Guide to Human Action , Chapter III is also available in PDF .] “ECONOMICS AND THE REVOLT AGAINST REASON Reason is the primary tool for acting man. The modern revolt against reason was not due to exaggerated claims by the rationalist philosophers. What really happened was that the socialist opponents of the classical economists could
In response to mounting controversy over the student loan industry, the House recently passed the Student Loan Sunshine Act by a large margin (414 to 3). The Act would require lenders to disclose any financial relationships they have with educational institutions, and it would prohibit certain questionable activities, such as lenders giving
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.