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  • Panel: The Significance of Hans-Hermann Hoppe
    by Hans-Hermann Hoppe, David Gordon, Mark Thornton, Stephan Kinsella, Thomas J. DiLorenzo, Jörg Guido Hülsmann, Joseph T. Salerno on March 26, 2019 at 10:06 am

    Sponsored by Steve and Cassandra Torello. Featuring David Gordon ("Hoppe and German Philosophy"), Mark Thornton ("Hoppe as Textbook Writer"), Stephan Kinsella ("Hoppe on Property Rights"), Thomas DiLorenzo ("Hoppean Political Economy vs. Public Choice"), Jörg Guido Hülsmann ("Hoppe […]

  • Liberty vs. War: A Brief History
    by Jeffrey M. Herbener on March 26, 2019 at 10:06 am

    [The John Bartel Lecture, presented at the 2012 Mises Institute Supporters Summit: "The Truth About War: A Revisionist Approach." You can watch a video of this lecture here.] In his book, Anatomy of the State, Murray Rothbard wrote, Just as the two basic and mutually exclusive interrelations […]

  • Henry Hazlitt’s Long-Term Economic Thinking:...
    by Robert L. Luddy on March 26, 2019 at 10:06 am

    The Henry Hazlitt Memorial Lecture, sponsored by Hunter Lewis. Recorded at the Mises Institute on March 22, 2019. Includes an introduction by Joseph T. Salerno. The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian School, bringing together […]

  • Political Capitalism: How Economic and Political...
    by Randall G. Holcombe on March 26, 2019 at 10:06 am

    The F. A. Hayek Memorial lecture, sponsored by Greg and Joy Morin. Recorded at the Mises Institute on March 23, 2019. Includes an introduction by Joseph T. Salerno. The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian School, bringing together […]

  • The High Cost of Mandatory Paid Parental Leave
    by José Niño on March 26, 2019 at 10:06 am

    In the latest episode of conservatism as “progressivism driving the speed limit,” former U.S. Senator Rick Santorum proposed the idea of paid leave at the Conservative Political Action Conference (CPAC). This idea is starting to manifest itself as a political reality with Senators […]

  • Will the Trade War End in a Rural Bloodbath?
    by Andrew Moran on March 26, 2019 at 10:06 am

    By the end of March, Presidents Donald Trump and Xi Jinping are scheduled to meet at a formal signing ceremony to ratify a historic trade agreement between the world’s two largest economies . It has been one long year since the United States fired the first salvos in the trade war, leading […]

  • The Data Don't Speak for Themselves
    by Peter G. Klein on March 26, 2019 at 10:06 am

    Obituaries for the late Princeton economist Alan Krueger have mixed praise for his personal character with implicit (or explicit) endorsement of his research approach. Krueger, writes Noah Smith, “helped turn the economics profession into a more empirical, more scientific enterprise.” […]

  • The "State of Nature" Is a State of Poverty
    by Ludwig von Mises on March 26, 2019 at 10:06 am

    From time immemorial men have prattled about the blissful conditions their ancestors enjoyed in the original "state of nature." From old myths, fables, and poems the image of this primitive happiness passed into many popular philosophies of the 17th and 18th centuries. In their language, the term […]

  • Decades of Transit Trouble on New York's Subways
    by Gregory Bresiger on March 26, 2019 at 10:06 am

    As the New York City subway system continues to deteriorate, this word is verboten by political and media elites here: Privatization. Even the supposed friends of private enterprise, the Manhattan Institute, don’t argue for the abolition of the Metropolitan Transportation Authority (MTA), the […]

  • What Did the Founders Mean by "Invasion"?
    by Dave Benner on March 26, 2019 at 10:06 am

    Even by the middle of the 18th century, the English language lacked a widely-used set of standard definitions to English words. While English dictionaries existed, those that did were widely considered deficient for a variety of reasons. Famous Scottish philosopher and historian, David Hume, […]

  • Climate Change Activist Admits: Being Green...
    by Ryan McMaken on March 26, 2019 at 10:06 am

    Well, at least they're now being honest about it. A headline this week in The Guardian reads: "Ending climate change requires the end of capitalism. Have we got the stomach for it?" The article, by Phil McDuff, goes on the discuss the "Green New Deal" currently being peddled in the US Congress, […]

  • We Don't Need Any More Big, Visionary Government
    by Tyler Curtis on March 26, 2019 at 10:06 am

    One of the more interesting reactions to the Green New Deal (GND) came courtesy of Ross Douthat. Writing for the New York Times, Douthat offered “one cheer for the Green New Deal,” two cheers shy of a full endorsement. Given that the GND has been roundly and justifiably mocked […]

  • Statistics: Achilles' Heel of Government
    by Murray N. Rothbard on March 26, 2019 at 10:06 am

    [This essay was published in Essays on Liberty, VIII (Irvington-on-Hudson, NY: Foundation for Economic Education, 1961), pp.255–261, and in The Freeman, June 1961, pp. 40–44.) It was republished in The Logic of Action Two (Edward Elgar, 1997, pp. 180 184). Rothbard had developed a […]

  • Double Standards Are Rampant in Canada's Drug War
    by Lee Friday on March 26, 2019 at 10:06 am

    On October 17, 2018, recreational marijuana was legalized in Canada, ending 95 years of prohibition. For those who believe, as I do, that individuals should have the freedom to determine their own consumption, this is good news. However, I am not congratulating Prime Minister Justin […]

  • The Fed Has Given Up: Get Ready for More QE
    by Ryan McMaken on March 26, 2019 at 10:06 am

    The Federal Reserve's Federal Open Market Committee on Wednesday voted unanimously to keep the federal funds rate unchanged. Overall, the FOMC signaled it has made a dovish turn away from the promised normalization of monetary policy which the Fed has promised will be implemented "some day" for a […]

  • Classical Economics vs. The Exploitation Theory
    by George Reisman on March 26, 2019 at 10:06 am

    For more than a century, one of the most popular economic doctrines in the world has been the exploitation theory. According to this theory, capitalism is a system of virtual slavery, serving the narrow interests of a comparative handful of businessmen and capitalists, who, driven by insatiable […]

  • Australia's Gun Laws and Homicide: Correlation...
    by Ryan McMaken on March 26, 2019 at 10:06 am

    In the wake of the March 15 New Zealand shootings, advocates for new gun restrictions in New Zealand have pointed to Australia as "proof" that if national governments adopt gun restrictions like those of Australia's National Firearms Agreement, then homicides will go into steep decline. "Exhibit A" […]

  • Capitalism Turns Luxuries Into Necessities
    by Bradley Thomas on March 26, 2019 at 10:06 am

    Bashing the rich is all the rage these days. In a clear appeal to envy, Democratic leaders are trying to outdo each other with escalating bids on how much of rich’s wealth should be stolen by government. In one tweet, Elizabeth Warren called out a billionaire NFL owner for paying $100 […]

  • Central Banks Are Messing with Your Head
    by Thorsten Polleit on March 26, 2019 at 10:06 am

    Human action and the interest rate People value present goods more highly than future goods. For instance, an apple available today is considered more valuable than the same apple available in, say, one month. This is expressive of time preference — which is an undeniable fact, a category of […]

  • The Place of Economic Calculation in the Economic...
    by Jeffrey M. Herbener on March 26, 2019 at 10:06 am

      ABSTRACT: In exalting the subjectivity of value, the marginalist revolution posed a fundamental problem for economic theory. Each person chooses how to allocate his means and thereby, economize his actions by rank ordering the value of alternatives. Being interpersonally incomparable, […]

  • Mises’s Contribution: International Cantillon...
    by Carmen Elena Dorobăț on March 26, 2019 at 10:06 am

    Ludwig von Mises’s contributions stood out against the background we outlined previously in mainstream international economic theory. Mises did not employ an analytical distinction between domestic and international trade, and unlike his contemporary scholars, he did not separate the real and […]

  • The Battle of Shiloh, Part 1: I "Would Fight Them...
    by Chris Calton on March 26, 2019 at 10:06 am

    Season 3, Episode 49 Following the victories at Forts Henry and Donelson, Grant’s commanding officer still wanted to remove him from command. During this time, he formed a strong friendship with William Tecumseh Sherman. As the Union army was amassing troops at Pittsburg Landing, the […]

  • The Lost Fifth Volume of <em>Conceived in...
    by Llewellyn H. Rockwell Jr. on March 26, 2019 at 10:06 am

    Murray Rothbard was a genius. One aspect of this was his writing as an American historian. He was every bit as significant a scholar here as he was as an economist and philosopher. For example, there is his stunning four-volume history of early America from Jamestown to the end of the American […]

  • Peter Klein Discusses Christina Romer, Bill...
    by Robert P. Murphy, Peter G. Klein on March 26, 2019 at 10:06 am

    Austrian economist Peter Klein talks with Bob about his unusual (for a Rothbardian) career path, including his time working for the Council of Economic Advisors to Bill Clinton. They discuss Klein’s work on entrepreneurship, and how his views differ from those of Israel Kirzner. For more […]

  • What a "Hard Brexit" Could Mean for the UK
    by Patrick Barron on March 26, 2019 at 10:06 am

    When Britons voted on June 23, 2016 on whether or not to leave the EU there was no discussion of a "hard or soft Brexit". These terms were invented after Brexit passed by a surprisingly large margin and the mostly anti-Brexit Tory Party government, especially its leadership, decided that it needed […]

  • The Trouble With Socialist Anarchism
    by Per Bylund on March 26, 2019 at 10:06 am

    The movie V for Vendetta has provoked public discussion of the meaning of anarchism. Murray Rothbard was an advocate of the stateless society, but he was never accepted by the anarchist movement and is still considered more a "capitalist lackey" than anarchist thinker. Indeed, anarcho-capitalism […]

  • The Problem with Modern Monetary Theory
    by Frank Shostak on March 26, 2019 at 10:06 am

    According to the Modern Money Theory (MMT), money is a thing that the State decides upon. Following the ideas of the German economist Georg Knapp, the MMT simply regards money as a token. For instance, when an individual places a coat in the cloakroom of a theatre, he receives a tin disc or a […]

  • Peter Klein on Entrepreneurial Empathy
    by Hunter Hastings, Peter G. Klein on March 26, 2019 at 10:06 am

    Today we talk with Peter Klein about empathy—a critical tool in the entrepreneur’s toolbox. It’s through empathy that entrepreneurs can get into the customer’s mind, understand and identify their needs and wants from their perspective and in their perception. This is the […]

  • Forget Guaranteed Income — Governments Should...
    by Lee Friday on March 26, 2019 at 10:06 am

    In most countries, numerous government welfare programs provide benefits (often means-tested) to eligible recipients. Whether these payments arise from unemployment compensation, child tax credits, old age pensions, or a myriad of other programs, the outcome is the same: recipients receive […]

  • Banking, Nation States, and International...
    by Hans-Hermann Hoppe on March 26, 2019 at 10:06 am

    In order to explain the emergence of barter nothing more than the assumption of a narrowly defined self-interest is required. If and insofar as man prefers more choices and goods to fewer, he will choose barter and division of labor over self-sufficiency. The emergence of money from barter follows […]

  • Jeff Deist at Kent State University
    on March 26, 2019 at 10:06 am

    […]

  • Cash for Clunkers: Yet Another Way Government...
    by Joseph Becker on March 26, 2019 at 10:06 am

    President Obama’s Car Allowance Rebate System (CARS), more popularly known as “Cash for Clunkers,” is now a decade old. For those with short memories or those utilizing the healthy defense mechanism of repression, CARS, enacted by Congress in the summer of 2009, was a […]

  • Deflation Fears Drive Developing Countries to...
    by George Pickering on March 26, 2019 at 10:06 am

    As the economic contagion of the global financial crisis was spreading from country to country in 2007, it was frequently noted that the mainstream economics profession seemed to be just as much in the dark about the true causes of the crisis as were the general public. In place of anything […]

  • How Wage Work Liberated Women (and Men)
    by Ryan McMaken on March 26, 2019 at 10:06 am

    In her essay "Redeeming the Industrial Revolution" Wendy McElroy notes how industrialization provided choices to women which had never been available before: When women had the opportunity to leave rural life for factory wages and domestic work, they poured into the cities in unprecedented numbers. […]

  • Not Every Health Condition Is Insurable
    by David Howden on March 26, 2019 at 10:06 am

    With all the discussion over the need for healthcare in the U.S., one question is never asked: is a person’s health insurable? The Austrian economist Ludwig von Mises helped clarify what types of events are open to insurance when he defined two types of probability. Case probabilities are […]

  • Only Capitalism Will Save the Millennials
    by Antony P. Mueller on March 26, 2019 at 10:06 am

    The outlook for the millennial generation, those who were born in the two decades before the new millennium, are bleak. Student debt is only one of the burdens. There is also the lack of attractive jobs. Even worse are the inclinations toward socialism that comes attractively packaged as more […]

  • Decentralize the French State
    by José Niño on March 26, 2019 at 10:06 am

    With the gilets jaunes (yellow vests) protests raging for more than three months, the European Union’s viability as a political entity has come into question. Indeed, the EU has gone through a whirlwind of economic and political upheavals since the eurozone crisis of 2009. In 2016, the EU […]

  • Bastiat's Legacy in Economics
    by Jörg Guido Hülsmann on March 26, 2019 at 10:06 am

    Claude Frédéric Bastiat (1801 — 1850) is one of the greatest economists ever. His role as organizer of the French, and inspiration of the nineteenth- century continental European free-trade movement is not controversial, and all historians recognize him as a great pamphleteer […]

  • Capitalist Investment: The Greatest Type of...
    by C.Jay Engel on March 26, 2019 at 10:06 am

    In our time of rising socialistic rhetoric and indignation against those who have great levels of wealth, we also encounter the idea that the use of wealth for charitable purposes is better for society, perhaps even more moral, than the use of wealth for business development and capital […]

  • The "Fertility Crisis" Is a Government-Caused...
    by Ryan McMaken on March 26, 2019 at 10:06 am

    January's report on fertility from the CDC set off a new wave of speculation in the media about the alleged "fertility crisis." We continue to see headlines like Fortune magazine's article "Americans Aren’t Making Enough Babies, Says CDC " and we hear from experts in this Marketplace […]

  • Jordan Page Talks and Sings About the Persecution...
    by Robert P. Murphy on March 26, 2019 at 10:06 am

    Liberty musician Jordan Page discusses the plight of Schaeffer Cox, an Alaska liberty activist and militia leader who is being held by the federal authorities in a high-security prison. There were many irregularities in the case, with the original verdict having been vacated and the case sent to a […]

  • How Asset Inflation Will End — This Time
    by Brendan Brown on March 26, 2019 at 10:06 am

    Life after death for asset inflation: this is what happens when “speculative fever” remains high even after monetary inflation has paused. This may well have been the situation in global markets during 2019 so far. But history and principle suggest that life after death in this monetary […]

  • The Right Not To Testify
    by Murray N. Rothbard on March 26, 2019 at 10:06 am

    [This originally appeared in Libertarian Review in November 1978.] Libertarians surely favor freedom of speech, that is, the right to speak without being hampered by the government. But the right to speak implies the right not to speak, the right to remain silent. Yet libertarians have themselves […]

  • The Right Not To Testify
    by Murray N. Rothbard on March 26, 2019 at 10:06 am

    [This originally appeared in Libertarian Review in November 1978.] Libertarians surely favor freedom of speech, that is, the right to speak without being hampered by the government. But the right to speak implies the right not to speak, the right to remain silent. Yet libertarians have themselves […]

  • A College "Education" Has Little to do with...
    by Ryan McMaken on March 26, 2019 at 10:06 am

    An old friend of mine, who taught political science for 25 years at the University of Colorado, was known to tell his students that the real reason they were there was to marry people from the right social class. While perhaps a little overly cynical, this assessment certainly wasn't totally wrong. […]

  • Why International Economics Theory Has Become...
    by Carmen Elena Dorobăț on March 26, 2019 at 10:06 am

    With the US–China trade war and the Brexit dealings making headlines around the world, debates about international trade are at a high point. Unfortunately, those wishing to turn to the theory of international economics for support and enlightenment on these issues will find themselves […]

  • MD vs NP: Patient Protection or Turf War?
    by Michel Accad, Anish Koka on March 26, 2019 at 10:06 am

    A massive push to increase the number of nurse practitioners and physician assistants and to extend their scope of practice is under way. The stated goal is to address a real or perceived shortage of primary care physicians. This effort worries many doctors who are concerned that patients are […]

  • Free Trade is Pro-Middle Class and Pro-Family
    by Gor Grigoryan on March 26, 2019 at 10:06 am

    The most sophisticated proponents of protectionism acknowledge the economic arguments in favor of free trade, but portray their position as transcending economics and the free traders’ superficial hunger for “cheap stuff.” These protectionists instead champion loftier goals such […]

  • Small Businesses Are Key In Improving the Lives...
    by Ryan McMaken on March 26, 2019 at 10:06 am

    While one often hears a lot of talk about the virtues of "mom and pop" shops (and the evils of "big box" stores) policy makers do remarkably little to encourage the growth and health of small businesses. While the federal government has created a federal boondoggle ostensibly designed to favor […]

  • Socialism
    by Jeff Deist, Shawn Ritenour on March 26, 2019 at 10:06 am

    It's been almost 100 years since Mises literally wrote the book on socialism. His arguments against central economic planning, still acutely relevant today, have never been refuted—in theory or dismal practice. Joining the Human Action Podcast to discuss this monumental book is Dr. Shawn […]

 

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