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Source link: http://archive.mises.org/11550/the-mystery-is-back/

The Mystery is Back

January 27, 2010 by

We miscalculated demand for Rothbard’s Mystery of Banking, and ended up running out for a second time. But now it is back!


Hard Rain January 27, 2010 at 10:52 am

“We miscalculated demand for Rothbard’s Mystery of Banking, and ended up running out for a second time.”

Oh dear. Looks like some quantitive easing is in order to help fuel aggregate demand ;)

Jeffrey Tucker January 27, 2010 at 11:17 am

Yes, a clear case of market failure. If someone doesn’t rescue us, there will be a 2nd great depression.

Jeffrey Tucker January 27, 2010 at 11:40 am

sorry about that. Purchase was disabled. Another market failure, but now fixed.

Bruce Koerber January 27, 2010 at 1:46 pm

What a fantastic book!

(8?» January 27, 2010 at 4:20 pm

“We miscalculated demand for Rothbard’s Mystery of Banking, and ended up running out for a second time.”

Surely you know by now there are no such things economic calculations. They are merely forecasts! ;-)

Hard Rain January 27, 2010 at 4:41 pm

I can just see the headline about this in the New York Times: “Mises.org shoppers wreak market catastrophe with ‘animal spirit’ demands!”

Jake January 27, 2010 at 8:18 pm

The introduction alone is worth the price of the book.

iawai January 27, 2010 at 10:32 pm

What?! I’m shocked that you have demand for a product you give away digitally for free, at http://mises.org/Books/mysteryofbanking.pdf, certainly to the disdain of some who would insist on the necessity of absolute lockdown of the free distribution of information!

IP is simultaneously a system of price controls and prohibitions, which are perfectly legitimate agreements…

…when made voluntarily! Business agreements are called contracts, while a voluntary prohibition is simply called a diet (i.e. personal resolutions, explicit group social agreements, religious restrictions on voluntary acts, etc.).

Further, Human experience shows us that there are always failures in these goals, however noble they may be in some cases. The costs of those failures lie with the actors involved, and should be left with them, and their consequences. Enforcing a smoking ban, a price-fixing scheme, a ban on ‘illegal’ downloads, or an agreement not to draw dirty mickey mouse cartoons passes the costs of these dirty habits on to all of society.

And since the enforcers are a monopoly, their decisions are more likely to be arbitrary, deficient, and discriminatory, and their employees more susceptible to corruption, incompetency and inefficiency.

newson January 28, 2010 at 12:42 am

…and so the glove is cast down by iawai!

hungarian January 28, 2010 at 6:19 am

It is necessary to raise the price of the book, and the demand will be suitable then.

Curt Howland January 28, 2010 at 8:28 am

Obviously Jeffrey is making up stories about demand for a hard copy of this book.

After all, with the freely available and infinitely copyable electronic version, there can be no remunerative demand what so ever.

Haven’t we been told this often enough?

This is clearly Fallacy #136 again, that some anonymous furnature magnate in Iowa is buying these books (or at least making accounting entries to that effect) by the millions in order to fund the Mises Institute by stealth since there is no actual demand for anything like a “free” market in the US that isn’t just a front for that same “fund”.

HGills January 28, 2010 at 11:51 am

I own several books in both electronic and print versions (not from the Mises Institute, necessarily). Print and electronic versions constitute different forms of a good, with different capabilities & uses, so there can be demand for them both.

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