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Daily Articles from The Mises Institute on Austrian Economics and Libertarianism
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Mervyn Peake and the Great Individualist Novel

Thu, 07/22/2010 - 06:16

When Mervyn Peake was 28 years old, he began writing what turned out to be one of the most extraordinary novels of individualism written and published in the last century.

True Libertarianism

Wed, 07/21/2010 - 13:52

Words fail me in my attempt to say how much I welcome this book. This is a brilliant, magnificent book.

Our Miracle of Pentecost

Wed, 07/21/2010 - 08:48

For the first time in the history of the world, I'm able to communicate with anyone in the world instantly, regardless of language. The great barrier of all of human history has been overcome.

The Nonviolent Black Market in Information

Wed, 07/21/2010 - 06:16

Ideas and information are not physical goods; therefore they are not only nonscarce in practice but also nonscarce in principle. It is impossible to diminish their supply or reduce their quality.

The Writing on the Berlin Wall: Pictures of the Socialistic Future

Tue, 07/20/2010 - 08:48

Setting your entire production structure on the whims and fancies of bureaucrats and politicians, based upon central-planning diktat rather than local voluntary money prices, quickly leads to economic chaos.

Hoover's Dam Folly

Tue, 07/20/2010 - 07:32

Just as the Keynesian policies of the New Deal tried to cheat the laws of economics, government's damming of the Colorado River attempted to cheat Mother Nature.

Jefferson as President: His Judicial Blunders

Tue, 07/20/2010 - 06:15

Jefferson failed to appoint a states' rights Republican to the Supreme Court who could rival John Marshall in erudition, strength of personality, and determination to uphold a consistent constitutional philosophy.

Real Jobs, Fake Jobs

Mon, 07/19/2010 - 07:32

If census jobs are so great, why should they end? Surely, these people could be transitioned to some other government service? People would have jobs, and everyone would be better off. Right? Wrong.

The Place of Mises's Liberalism

Mon, 07/19/2010 - 07:32

Mises's Liberalism stands in bold contrast to the mass of other works in the field. In clean, clear lines it sets out what it meant to be a liberal when liberalism was the specter haunting Europe.

DeLong on Deficits

Mon, 07/19/2010 - 06:16

From the standpoint of the actual welfare of the people, it makes a huge difference whether the government spends an additional $100 billion, or taxpayers get to retain $100 billion more of their money.

Gross Wage Rates and Net Wage Rates

Fri, 07/16/2010 - 07:32

In deciding to hire a worker, the employer does not ask himself what the worker gets as take-home wages. The only relevant question for him is, What is the total price I have to expend to secure the services of this worker?

Mises's Vision of the Free Society

Fri, 07/16/2010 - 07:30

The importance of Mises's economic contributions is apt to make us overlook his contributions as a social theorist and political philosopher. The republication of Liberalism helps to rectify this oversight.

Final Utility: The Cornerstone of Austrian Theory

Fri, 07/16/2010 - 06:13

What are the peculiar features that the Austrian School presents in the domain of positive theory? Their researches take their direction from the theory of value, the cornerstone being the well-known theory of final utility.

Louis XIV: Apogee of Absolutism

Thu, 07/15/2010 - 08:48

According to Louis XIV, a king is superhuman, a man who is above all and sees all and is the only one working for the "public" good, which is identical with his own.

Henry David Thoreau: Founding Father of American Libertarian Thought

Thu, 07/15/2010 - 07:32

Thoreau's body of writing on political matters makes up a relatively small portion of his total production. But it is that political writing that is primarily responsible for his enduring reputation.

Classical-Liberal Exploitation Theory

Thu, 07/15/2010 - 06:16

The classical-liberal theory is not only more correct and faithful to socioeconomic reality than the Marxist theory but it may well account for one of the major contradictions within Marxism itself.

Economics Is … Easy

Wed, 07/14/2010 - 08:48

The truth is that economics is so hard for mainstream economists because they are trying to do the impossible — to describe the economic aggregates of entire states and nations with tools learned in calculus class.

Defending the Litterer

Wed, 07/14/2010 - 08:48

There is one small, seemingly insignificant detail that destroys the case against litter and the litterer. Litter can only take place in the public domain — never in the private domain.

Mises's Introduction to Theory and History

Wed, 07/14/2010 - 06:16

Man chooses ultimate ends first and then the means to attain them. These acts of choosing are determined by thoughts about which the natural sciences do not know how to give us any information.

The Self-Defeat of the Keynesian Cross

Tue, 07/13/2010 - 07:32

Given the inadequacies of the Keynesian paradigm, anyone interested in explaining the origins of the business cycle should seriously study other economic theories — especially the Austrian one.