On July 30 S&P declared Argentina’s government technically in default on $13 billion of its sovereign bonds that were restructured after the government’s previous default back in 2002. Inasmuch as several of the world’s major Keynesian bloggers never tire of pointing
A quote from one of the news summaries found on Open Europe today: “Russia also announced a ban on some fruit and vegetables imports from Poland, and is considering expanding the ban to the entire EU.” I doubt that Putin
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Reprinted from FEE.org Most Americans implicitly assume that the financial system has always worked the way it does now. Although they may have a vague knowledge that the U.S. dollar used to be tied to gold, they can’t really imagine
Mainstream economists have long derided the Austrian School as a “cult”. Professor Walter Block recounts stories from Nobelists Gary Becker and James Buchanan off-handedly referring to the cultish Austrians. When pressed by Professor Block, Becker said, “By a cult I
From Edmund Burke’s Reflections on the Revolution in France. (Just substitute “dollar” for “assignats“. Nothing has changed.) “Assignats. Is a fleet to be fitted out? Assignats. If sixteen millions sterling of these assignats forced on the people leave the wants of the state
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[This article is excerpted from volume 2, chapter 10 of An Austrian Perspective on the History of Economic Thought (1995). An MP3 audio file of this chapter, narrated by Jeff Riggenbach, isavailable for download.] Reprinted from Mises.org Another important reason for Marx’s
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In his provocative cover story “Why Liberalism Means Empire” for The American Conservative, Daniel McCarthy makes a rather astounding claim: that liberalism, or rather laissez faire secular order, needs a state hegemon to be long-lasting. I call this argument astounding because
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The following are six of the most prevalent economic myths that appear time and again in the mainstream media. I will give a brief description of each and a brief description of the economic reality, as seen from an Austrian
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From today’s Open Europe news summary: In its quarterly report, the Greek Parliament’s State Budget Office has warned that Greece will require a third bailout package to avoid a default, and that despite capital injections, the problems of the country’s banks
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Reprinted from Mises.org Mises Institute Senior Fellow Peter Klein and Associated Scholar Nicolai Foss were interviewed by Ángel Martín Oro for Sintetia.com. Klein and Foss discuss their 2012 book Organizing Entrepreneurial Judgment: A New Approach to the Firm, published by Cambridge University Press. Sintetia: The
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The real truth behind one of the most controversial, charismatic and popular rebels of the twentieth century.
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Famed Chicago economist John Cochrane has recently returned from a seminar at the National Bureau of Economic Research (NBER, the organization tasked with determining whether the economy is in a recession or not, and where Ludwig von Mises was employed
Reprinted from Liberty.me It was November 2012 when the bankrupt Hostess company pulled the Twinkie from production and sent many generations of sponge-cake lovers, including me, into panic. Then only a 8 months later, July 15, 2013, all became right
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Reprinted from the Pembroke Observer Since the collapse of Lehman Brothers investment bank in 2008, central banks around the world have created trillions of additional dollars, yen, euros and renminbi. In the immediate aftermath of Lehman’s bankruptcy other banks, unsure
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Gene Callahan asks why Austrian economists distinguish between “land” and “capital goods” as separate factors of production. It’s an interesting question. In the present post, I’ll go over the prima facie reasons one would be tempted to abandon the classical
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Re: Luxembourg tax regime under siege This recent article by Vanessa Houlder of the Financial Times, London, details the economic success that Luxembourg has enjoyed by keeping its business tax rates at a moderate level and the threat to that success
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It’s the stuff of nightmares. Metal demons frankensteined into being for the purpose of molding children’s behavior to fit the government’s definition of “acceptable.” Is this the plot of a low-budget 1950s science fiction film? Am I going to wake
[Adapted from Rothbard’s book review of Freedom and the Law by Bruno Leoni. This review first appeared in New Individualist Review , edited by Ralph Raico.] [In his book Freedom and the Law,] Professor [Bruno] Leoni’s major thesis is that even the staunchest free-market economists
Do you like to write about the economy? Does central banking get you down? Do you have career ambitions in academia or finance? Do you like to write about economics? Then apply to Mises Canada’s Emerging Scholar Program! The Emerging
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Lately an old controversy has flared up again, but with an interesting twist. Literally for decades, followers of Ludwig von Mises have lamented the fact that the word “inflation” now generally means “an increase in (consumer) prices,” whereas historically it
