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Source link: http://archive.mises.org/12726/ludwig-von-mises-and-free-market-thinking/

Ludwig von Mises and Free-Market Thinking

May 17, 2010 by

What we learn best is knowledge that we seek for ourselves, knowledge that we are passionate about. We have a generation that is teaching themselves economic truth, no matter what they hear on TV or in classrooms. FULL ARTICLE by Doug French

{ 6 comments }

A. Viirlaid May 17, 2010 at 8:57 am

Great thinking, beatifully presented.

Thank you.

I appreciated the question-and-answer format as well.

Seattle May 17, 2010 at 9:48 am

Hasn’t this been posted as a daily already? I enjoyed reading it again, but I’m just wondering if there was a mistake in reposting it.

Jeffrey Tucker May 17, 2010 at 9:17 pm

No but it was linked in a blog post

Dick Fox May 17, 2010 at 4:55 pm

Doug French wrote:

How long will state governments and parents be able to afford paying for four, five, or six years of partying, football games, and sorority dances, with a few classes from out-of-touch tenured professors sprinkled in? The university system sells pieces of paper, diplomas that have value to employers who use these pieces of paper to make hiring decisions. Eventually, technology will allow employers to test an applicant’s skills and knowledge and not depend on these expensive pieces of paper. The value of diplomas is depreciating like the value of fiat currency. Because there is nothing (no real education) backing it.

Doug,

I believe this is prophetic, or at least a very sound forecast.

I have been thinking something similar for some time as I watch college graduates flip burgers, or work behind the counter at the rental car agency [Not long ago I rented a car and talking to the fellow behind the counter I learned that almost everyone working there has a psychology degree.] I have an open position and am in the process of hiring someone for an entry level position. I was given the direction that I was to only hire a college graduate.

A diploma today means very little other than getting you in the door for an entry level job, and this is primarily due to the subsidy of college education by the federal government. A college education no longer gets you a job, but only an interview. Without an intership in our company your diploma is meaningless. And the federal government is actually accelerating the process by increasing their subsidies. Your observation about technology testing skills without a piece of parchment is very perceptive. I can already see it happening.

Jason Pacifico May 18, 2010 at 12:30 pm

Hi Doug,

In regard to the article “Ludwig von Mises and Free-Market Thinking “( by Dough French). I was very interested on Karl Manger’s association with Karl Marx, their letters, correspondences, and Menger’s early thoughts and perspectives on Marx specifically– as it related to “creating currency” into the economy and who owns the currency? (1) the Private Banks thorough a Government Agency as in the Federal Reserve Bank (1913-2010), or (2) A “People’s” Central Bank (exclusively run for the population and not private banks, as in Lincoln’s Greenback currency). Also a compassion of both Karl Manger economic thoughts on the Greenback as well as Karl Marx, there correspondence vis-a-vis.

Thanks, Jason Pacifico

Also see attached (very important to the discussion) my email correspondence to the ALTERNET article and Free Form radio (Terrence McNaly, WBAI) interview w/ William Greider ” “Exposing the Secrets of the Temple: How the Federal Reserve Makes Money Out of Thin Air” author of “Secrets of the Temple” vis-a’-vis National debt and deficit issues, entitlements, and infrastructure money: “high speed rails,” etc. and on ownership. Also see attached “The Sad Story Of The Privately Owned Federal Reserve Bank.” (sent to murphy@mises.com <murphy@mises.com)

Stephen Grossman May 18, 2010 at 5:14 pm

Where did Mises oppose free banking?! What kind of free?

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