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  • Curriculum Subverted: An Academic Leader Pushes...
    by Michel Accad, Anish Koka on December 13, 2019 at 5:15 pm

    Should the medical school curriculum include health inequity, climate change, and gun control? Accad and Koka interview Professor Stanley Goldfarb, author of a recent and controversial op-ed in the Wall Street Journal on the politicization of medical education. […]

  • Violence, Homesteading, and the Origins of...
    by David Gordon on December 13, 2019 at 5:00 pm

    Those who us who accept self-ownership and a Lockean account of property acquisition must face an important objection. In this account, self-owners occupy land and other natural resources, in that way acquiring exclusive rights to the land or resources. Once they done so, they may transfer their […]

  • Embrace Unilateral Free Trade with the UK —...
    by Ryan McMaken on December 13, 2019 at 3:45 pm

    Boris Johnson's Conservatives won an outright majority in yesterday's general election, pushing the Tories to an 80-strong Commons majority in what the Daily Mail called a "staggering election landslide." Given that the Conservatives employed an election slogan of "Get Brexit Done," it appears the […]

  • Get Your Free Book Today!
    by Mises Institute on December 13, 2019 at 2:15 pm

    "Marxism and the Manipulation of Man" When the Berlin Wall fell 30 years ago this year — and the Soviet Union not long after — many thought socialism had been relegated to the dustbin of history. Unfortunately, the ideology responsible for the death of over 100 million people in the […]

  • Why the Courts Aren't All They're Supposed to Be
    by Lee Friday on December 13, 2019 at 12:00 pm

    In the United States, law courts routinely hand out court order mandating payments to victims. And then do little to enforce them. For example, according to the U.S. Census Bureau, in 2015 only 43.5 percent of custodial parents received the full amount of court-ordered child support payments. 25.8 […]

  • Bank Crisis!
    by Murray N. Rothbard on December 12, 2019 at 8:00 pm

    [This article is featured in chapter 78 of Making Economic Sense by Murray Rothbard and originally appeared in the March, 1991 edition of The Free Market.] There has been a veritable revolution in the attitude of the nation's economists, as well as the public, toward our banking system. Ever […]

  • Teacher Unions Destroy School Accountability
    by Robert Fellner on December 12, 2019 at 5:00 pm

    Just months after successfully threatening an illegal strike to obtain a modest salary raise, members of the Clark County, Nevada, teachers union, the Clark County Eduation Association (CCEA), are going to have to give a big chunk of that back, thanks to a pair of recent rate hikes that will cost […]

  • The Silicon Valley Gulag
    by Jason Morgan on December 12, 2019 at 12:00 pm

    [Review of Michael Rectenwald, Google Archipelago: The Digital Gulag and the Simulation of Freedom (Nashville, TN, and London: New English Review Press, 2019).] The near-homogeneity of Silicon Valley political beliefs has gone from wry punchline to national crisis in the United States. The […]

  • The Japanization of the European Union
    by Jesús Huerta de Soto on December 11, 2019 at 8:00 pm

    [Opening lecture at the Twelfth Conference on Austrian Economics organized by the Juan de Mariana Institute and the Universidad Rey Juan Carlos, May 14–15, 2019.] Introduction The topic of my lecture today is the Japanization of the European Union. I would like to start with an […]

  • Why Central Banks Aren't Really Setting Interest...
    by Frank Shostak on December 11, 2019 at 5:00 pm

    Mainstream thinking considers the central bank a key factor in the determination of interest rates. By setting short-term interest rates, the central bank, it is argued, can influence the entire interest rate structure by creating expectations about the future course of its interest rate policy. In […]

  • A History of Inflationary Money: From 1844 to...
    by Alasdair Macleod on December 11, 2019 at 12:00 pm

    So that we can understand the financial and banking challenges ahead of us, this article provides an historical and technical background. But we must first get an important definition right, and that is the cause of the periodic cycle of boom and bust. The cycle of economic activity is not a trade […]

  • Why Gold Still Matters
    by Jeff Deist, Keith Weiner on December 10, 2019 at 5:00 pm

    Central bankers dismiss gold as a relic, even as they buy up more of it. Politicians dismiss gold as money they don't control and can't expand. Holders dismiss gold as outdated tech. And investors dismiss gold as a static metal paying no yields. So why does gold still matter? Why does it hold value […]

  • Chilean Protesters Could End Chile's Decades of...
    by José Niño on December 10, 2019 at 4:30 pm

    As supermarkets are set on fire and churches are desecrated, Chile’s recent wave of protests have sullied the otherwise solid image of Latin America’s most stable democracy. Since early October, protesters have clogged the streets of Santiago and other cities railing against recent […]

  • Vito Bialla Defines a Core Attribute of...
    by Hunter Hastings on December 10, 2019 at 3:45 pm

    Immediately after he arrived home from fighting in the war in Vietnam, Vito Bialla started his executive recruiting firm, Bialla & Associates, from scratch. He built it into a professional partnership of the highest repute at the highest level (recruiting CEOs and other C-Suite […]

  • Central Banks May Be Driving Us Toward More...
    by Gunther Schnabl, Tim Sepp on December 10, 2019 at 12:00 pm

    Christine Lagarde, the new president of the European Central Bank (ECB), has added a new green dimension to monetary policymaking. The charming Frenchwoman signaled that the ECB could buy green bonds, possibly as part of the reanimated bond purchase program (a form of QE). This could reduce the […]

  • Socialism and the Green New Deal: Choose One
    by Richard M. Ebeling on December 9, 2019 at 6:45 pm

    The Spanish philosopher, George Santayana (1863–1952) is usually credited with the phrase, “Those who cannot remember the past are condemned to repeat it.” Nowhere is this truer than with the renewed idea and demand for the establishment of a socialist economic system. A […]

  • The Woke Media: Apologists for the State
    by William L. Anderson on December 9, 2019 at 5:00 pm

    In an earlier article, I looked at the rise of “Woke Capitalism” and the challenges that this development presents for a free society (or, to be accurate, a somewhat free society). For the time being we probably do not need to worry about the establishment of the People’s Republic […]

  • When the Communists Abolished the Weekend
    by Ryan McMaken on December 9, 2019 at 2:00 pm

    Anti-capitalists on both left and right tell us that "capitalism" is destroying the weekend. The conservatives insist we need laws to punish people who try to sell things on Sunday. Leftists insist "unbridled capitalism" is destroying the weekend, which "lets us cultivate the seeds of civil society […]

  • Don't Thank Government Officials for Progress in...
    by Dave Albin on December 9, 2019 at 12:00 pm

    When you run across an article with a title such as this, it simply begs to be read: “It’s not thanks to capitalism that we’re living longer, but progressive politics.” That’s from The Guardian last week, and the article assures the reader that the science behind […]

  • A College Student Interviews Bob About How...
    by Robert P. Murphy on December 7, 2019 at 9:30 pm

    Greta, a college student in New York, is working on an honor’s thesis covering libertarian thought in America. In this short interview, she asks Bob what libertarianism is, his perspective on voting, and how he views the American political system. For more information, see BobMurphyShow.com. […]

  • Easy-Money Policies Don't Solve the Problem of...
    by Frank Shostak on December 7, 2019 at 5:00 pm

    It is widely believed that resources that are utilized in normal times to promote economic prosperity become underutilized during recessions. Some experts hold that what is required are policies which will increase the availability of credit. On this Ludwig von Mises wrote in Human Action, Here, […]

  • How California's Government Plans to Make...
    by Ryan McMaken on December 7, 2019 at 3:00 pm

    Not every square inch of the planet earth is suitable for a housing development. Flood plains are not great places to build homes. A grove of trees adjacent to a tinder-dry national forest is not ideal for a dream home. And California's chaparral ecosystems are risky places for neighborhoods. This […]

  • Why this Boom Could Keep Going Well Beyond 2019
    by Thorsten Polleit on December 7, 2019 at 12:00 pm

    The Austrian business cycle theory offers a sound explanation of what happens with the economy if and when the central banks, in close cooperation with commercial banks, create new money balances through credit expansion. Said credit expansion causes the market interest rate to drop below its […]

  • My Path to the Austrian School of Economics
    by Hans-Hermann Hoppe on December 6, 2019 at 8:00 pm

    [This talk was delivered 23 November at the Palais Coburg in Vienna, Austria, at an event commemorating the 70th anniversary of the publication of Mises's Human Action.] Nowadays, it’s not uncommon for people as young as 20 or 30 to feel they have to share their memories with the […]

  • Democracy Is Coercive, No Matter What "Civic...
    by David Gordon on December 6, 2019 at 5:00 pm

    An influential line of thought in contemporary political philosophy began well but quickly got off track. The line of thought began as a criticism of Isaiah Berlin. In his famous paper, “Two Concepts of Liberty,” Berlin set forward a notion of “negative freedom” that […]

  • America’s Arms Sales Addiction
    by William D. Hartung on December 6, 2019 at 12:00 pm

    It’s no secret that Donald Trump is one of the most aggressive arms salesmen in history. How do we know? Because he tells us so at every conceivable opportunity. It started with his much exaggerated “$110 billion arms deal” with Saudi Arabia, announced on his first foreign trip […]

  • We Don't Need Sunday "Blue Laws"
    by Ryan McMaken on December 5, 2019 at 9:15 pm

    It has now become commonplace for politicians and media pundits to casually assert that "everyone" — to use Alexandria Ocasio-Cortez's term — is now working more and more hours — and perhaps two or three jobs — just to attain the most basic, near-subsistence standard of […]

  • The Benefits of Free Trade Are Canceled Out by...
    by Carmen Elena Dorobăț on December 5, 2019 at 5:00 pm

    Foreign policy commentators live in their own bubble. The WTO’s credibility is gone and its survival uncertain due to its lack of impact on world trade over the last two decades. A China vs. USA trade war is still growing and the economic community of European states is in its worst-ever […]

  • Serving the Consumer: The Secret to Walt Disney's...
    by Barry L. Linetsky on December 5, 2019 at 12:00 pm

    December 5 is Walt Disney’s birthday, and more than fifty years after his death, Disney’s reputation is well-deserved. After all, he was the creator of Mickey Mouse and a score of lovable animated characters; was a pioneer in adding sound and color to movies; created the game-changing […]

  • Jeffrey Rogers Hummel on the Economics of Slavery
    by Robert P. Murphy, Jeffrey Rogers Hummel on December 4, 2019 at 9:30 pm

    Jeffrey Rogers Hummel joins Bob Murphy for an in-depth discussion of the economics of slavery, touching on subtleties such as the labor/leisure trade-off, and the recent claims by some historians that slavery was efficient. Bob also asks Hummel to explain the provocative claim in his book, that the […]

  • A Tougher Pill to Swallow: Roundtable on Generic...
    by Michel Accad, Anish Koka on December 4, 2019 at 9:15 pm

    As a follow-up to the episode on the Ranbaxy Scandal, Accad and Koka are joined by medicinal chemist John Tucker, PhD, and hypertension specialist Swapnil Hiremath, MD. The guests share their perspectives and impressions on the unsettling question of generic drugs. […]

  • The ABC of a Market Economy
    by Henry Hazlitt on December 4, 2019 at 8:00 pm

    There are basically only two ways in which economic life can be organized. The first is by the voluntary choice of families and individuals and by voluntary cooperation. This arrangement has come to be known as the free market. The other is by the orders of a dictator. This is a command economy. In […]

  • China's Mercantilism Is a Recipe for Stagnation
    by Mihai Macovei on December 4, 2019 at 5:00 pm

    Over the past two decades, fears about China’s rapid economic and technological advancement have grown exponentially and culminated in the recent trade war unleashed by President Trump. But only supporters of government intervention could think of China’s market socialism as a […]

  • What Venezuela Needs for a Prosperous Future
    by David Gordon on December 4, 2019 at 2:00 pm

    Prosperity & Liberty: What Venezuela Needs. Edited by Rafael Acevedo. Econintech, 2019. Rafael Acevedo is a distinguished Venezuelan economist, now in part-time residence at Texas Tech University, who is deeply concerned about the future of his native country. Socialism has brought Venezuela to […]

  • How to Avoid Civil War: Decentralization,...
    by Ryan McMaken on December 4, 2019 at 11:00 am

    It's becoming more and more apparent that the United States will not be going back to "business as usual" after Donald Trump leaves office, and it is easy to imagine that the anti-Trump parties will use their return to power as an opportunity to settle scores against the hated rubes and […]

  • The Cultural Consequences of Negative Interest...
    by Jeff Deist, Rahim Taghizadegan on December 4, 2019 at 12:45 am

    Negative interest rates are now entrenched reality in Europe, and not just for buyers of sovereign or corporate debt – even retail savings accounts are affected. What does this mean for real people trying to save for retirement? And more broadly, what does it mean for Europe culturally? […]

  • The <em>Washington Post</em>'s Double...
    by Ryan McMaken on December 3, 2019 at 9:15 pm

    Last week, the Washington Post's editorial board came out against sanctuary cities. No, not the kind of sanctuary cities that refuse to enforce federal immigration law. The Post's editors have no problem with that. Instead, the Post came out against the efforts by some local governments to oppose […]

  • Menger's Anti-Historical Method Versus the...
    by Mateusz Machaj on December 3, 2019 at 8:00 pm

    [This article originally appeared in Studies in Logic, Grammer and Rhetoric 57, no. 1 (2019): 65–74. Reprinted with permission.] Abstract: Due to the famous methodenstreit it is often well argued that Menger’s approach to social sciences can be seen as anti-historical, as according to […]

  • Anti-Market Conservatives Want to Fix Social...
    by Zachary Yost on December 3, 2019 at 5:00 pm

    Marco Rubio is the latest public figure to join the burgeoning anti-liberal and anti-market movement masquerading itself as being defending “the common good” from the greedy claws of the rapacious capitalists. Writing in National Review, Rubio launched an attack on the market […]

  • Per Bylund on the Economics of Value versus...
    by Hunter Hastings, Per Bylund on December 3, 2019 at 2:45 pm

    Good economic theory predicts effective, cutting edge business practices. For example, the dynamic flexibility of capital resource allocation predicted by Austrian Capital Theory is being realized today via digitization, dematerialization and agile organizational innovations. Entrepreneurs who […]

  • How Banks Go Bust
    by Murray N. Rothbard on December 2, 2019 at 8:00 pm

    [The Case Against the Fed, Chapter 8, “Problems for the Fractional-Reserve Banker: Insolvency.” (Slightly edited for publication as a separate article.)]   The fractional-reserve banker, even if he violates his contract, cannot be treated as an embezzler and a criminal; but the […]

  • Rationality in the Real World Isn't What...
    by Arkadiusz Sieroń on December 2, 2019 at 5:00 pm

    Behavioral economists say that people behave irrationally because they miscalculate the probability. But maybe it is not a problem with people, but with the use of the probability theory in a non-ergodic environment full of uncertainty?1 Daniel Kahneman, an economic Nobel Memorial Prize laureate, […]

  • Exports: Currency Devaluation Won't Grow the...
    by Frank Shostak on December 2, 2019 at 12:00 pm

    A visible weakness in economic activity in major world economies raises concern among various commentators that world economies have difficulties recovering despite very aggressive loose monetary policies. The yearly growth rate of US industrial production stood at minus 1.1 % in October, against […]

  • The Boom Is Worse than the Bust
    by Ludwig von Mises on November 30, 2019 at 8:00 pm

    The popularity of inflation and credit expansion, the ultimate source of the repeated attempts to render people prosperous by credit expansion, and thus the cause of the cyclical fluctuations of business, manifests itself clearly in the customary terminology. The boom is called good business, […]

  • Some Fundamental Differences between Ludwig von...
    by Joakim Book on November 30, 2019 at 12:00 pm

    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 […]

  • Word, Action, and Entrepreneurship
    by Jakub Bozydar Wisniewski on November 29, 2019 at 8:00 pm

    [This article originally appeared in Studies in Logic, Grammar and Rhetoric 57, no. 1 (2019): 161–174. Reprinted here with permission.] Abstract. The Mengerian-Misesian tradition in economics is also known as the causal-realist approach — in other words, it studies the causal structure […]

  • Social Justice Is Nothing like Real Justice
    by Germinal G. Van on November 29, 2019 at 5:00 pm

    Social justice is a political and social ideology that advocates for the equal redistribution of wealth, equal access to economic opportunities, and the reduction of unfair privileges within a society. The central argument used by social justice advocates is that the government has the moral […]

  • John Rawls's Unfortunate Notions of the...
    by David Gordon on November 29, 2019 at 12:00 pm

    The most famous work of twentieth-century political philosophy is John Rawls’ A Theory of Justice (1971). The most controversial part of this book is the “difference principle”: “Social and economic inequalities are to satisfy two conditions: (a) They are to be attached to […]

  • Private Ownership: A Must
    by Henry Hazlitt on November 28, 2019 at 8:00 pm

    [Chapter 7 from The Wisdom of Henry Hazlitt, edited by Hans F. Sennholz (Irvington-on-Husdon, NY: The Foundation for Economic Education, 1993).] If capitalism did not exist, it would be necessary to invent it — and its discovery would be rightly regarded as one of the great triumphs of the […]

  • How Entrepreneurs Learn from the Marketplace
    by Raushan Gross on November 28, 2019 at 5:00 pm

    Ludwig von Mises wrote that “we are historians of the future.”1 But, the heterogeneity in knowledge makes it virtually impossible to know everything there about historic market trends,  or even about local economies.This is why F.A. Hayek emphasized there is no such thing as […]

 

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Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum

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Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

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