In this interesting Wired article (which I discovered at Marginalrevolution.com), we learn of a new approach to road design: Anarchy is good! The fewer road signs, the safer people drive. There are several lessons here for Austro-libertarians. First, this is precisely the kind of thing that would happen in a free market for roads; various
In the comments on a recent blog post, people questioned my assertion that anyone calling him or herself an Austrian economist needs to read Rothbard’s treatise cover to cover. (To clarify, I was saying anyone who wants to be an Austrian economist...) This raises an interesting question: What are the necessary and sufficient conditions to be an
The current debate on Social Security privatization has crystallized what is the central question (among many questions) that supporters of economic liberty ought to be asking the Bush administration and its think-tank backers. It is this: If we are willing to put up with the fiscal consequences of partially defunding the present revenue stream
Who’s afraid of China? : “I set irrational goals, Michael and I together, to encourage our team so they don’t think of conventional solutions,” Rollins said in an interview. “If we asked for a 10 or 15 percent increase in productivity, we’d get conventional solutions. But if we ask them to double their productivity, then they have to rethink
With its successful venture into Earth’s orbit, SpaceShipOne has clinched the privately funded $10 million “X Prize” and has excited everyone from potential investors to serious scientists to Star Trek geeks. (I consider myself a member of all three categories.) Beyond the obvious implications, the episode illustrates several lessons from
After reading my recent piece on Republican fiscal policies, former Hillsdale College colleague Kirby Cundiff convinced me that one of my arguments was fairly weak. Because Reagan had cut marginal rates but “closed loopholes,” I was trying to gauge the overall effect. To this end, I compared federal tax receipts as a percentage of GDP between
Now that Bush has been reelected, and has comfortable majorities in both the House and Senate, we will have at least a two-year unambiguous test of Republican fiscal policies. My prediction? Massive spending and massive deficits. After all, that’s what Republican presidents do, if history is any guide. Of course, the immediate retort is that at
In a recent New York Times op-ed piece, “ Second Thoughts on Free Trade ,” Senator Charles Schumer and economist Paul Craig Roberts argue that the typical arguments for free trade, while perhaps valid in the days of Ricardo, are no longer relevant in today’s economy of multinational corporations and high-speed telecommunications. According to our
The Internet has been abuzz lately with arguments over free trade. This most recent outburst of scholarship was sparked by Sen. Charles Schumer and economist Paul Craig Roberts’ joint article in the New York Times, “Second Thoughts on Free Trade” . In this article, Roberts reiterated his position that “the case for free trade” rests on the
Did you ever notice that Louisiana is the only state of the Union where you can get a decent floral arrangement? No? Then it may surprise you to learn that Louisiana is the only state to license would-be florists. That’s right: If you want to (legally) arrange and sell flowers in Louisiana, you must first pass a two-part exam. The first part is a
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.