This is the teacher’s manual to accompany the student textbook, Lessons for the Young Economist. The manual follows the student text very closely (the student text is needed separately, either in physical form or PDF). For each section within a chapter, the manual may give the historical context, clarify the relationship between what the student
[ This Mises Daily originally ran August 29, 2011 .] Free-market economists have triumphantly cited the broken-window fallacy whenever someone opines that a destructive act, whether a natural disaster or man-made catastrophe, is paradoxically “good for the economy.” The reference is to a classic lesson given by the economist Frédéric Bastiat in
In a recent New York Times piece , bestselling textbook author, Harvard professor, and Mitt Romney advisor Greg Mankiw offered four principles of tax reform that are almost universally endorsed by professional economists, even extremely free-market ones . In the present article, I’ll critique Mankiw’s views from a Rothbardian perspective. The
I am happy to announce that the Teacher’s Manual is now available for my introductory textbook, Lessons for the Young Economist . For those readers who are unfamiliar with it, let me explain that the student text was designed with junior-high students in mind, but it is applicable for younger, precocious students, and also even for adults who
In a few recent blog posts, Paul Krugman used bar graphs and tables to (allegedly) prove the superiority of his views over those of the Austrians. Yet, as I’ll show in this article, I can use Krugman’s own data to demonstrate the exact opposite. Krugman on the Fed and Banking Panics Perhaps spurred by his Bloomberg debate with Ron Paul, Krugman
I am pleased to announce that I will be teaching another installment of the Mises Academy online class Anatomy of the Fed. This class will cater to both the undergraduate student and the seasoned Wall Street executive. This was one of the most popular classes the first time we offered it in early 2011. The Scope of the Course This session of the
Just about everyone is drawn to the libertarian respect for property rights. Yet most people draw back from fully embracing property rights and taking libertarianism to its fulfillment in “anarcho-capitalism” or free-market anarchy. “Sure,” the cynics say, “it would be great to live in a society without the government and taxes, but who would
[This review originally appeared in the Freeman , September 2012.] Based on art by Tim Kelly done for TheFreemanOnline.org This year marks the 50th anniversary of the 1962 publication of Murray Rothbard’s grand treatise, Man, Economy, and State ( MES ). I was humbled when asked to write an appreciation of this indispensable work of Austrian
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.