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Source link: http://archive.mises.org/5455/sweet-home-for-austrian-economics/

Sweet Home for Austrian Economics

August 11, 2006 by

Kyle Wingfield’s wonderful article on the Mises Institute appears in the US edition of the Wall Street Journal today. For subscribers here is the link. And here is a link that is free (new)

I would love to post a pdf of this thing that I’m looking at right now on my screen. But the WSJ wants to charge us $1,400 for a one-year posting. If we did it for one month, the price would be $450. To email it to you would cost us $3,250. Honestly!

Here are the key ending paragraphs, which I think you can read for free:

At the heart of Austrian economics is a skepticism of powerful, central authority. And Southerners have always been distrustful of government. Our libertarian streak — which flares up from time to time, for reasons both good and bad — makes us natural allies for the Austrian tradition.

The institute’s location also says something about the quality and depth of American intellectual life. America is lampooned as philistine in many quarters, especially in Europe, yet its bastions of learning are not limited to its Gothams. Having such an outfit so far away from the usual urban hubs is itself a rejection of the central planning and authority that Ludwig von Mises spent his life fighting. He might never have visited Auburn, but something tells me that he wouldn’t have put this institute any other place.


jl August 11, 2006 at 7:49 am

The full text seems to be posted here:

jl August 11, 2006 at 7:50 am
jeffrey August 11, 2006 at 8:05 am

That’s from the Euro edition and it is shorter.

Bruce August 11, 2006 at 9:56 am

Apparently, WSJ is offering a two weeks free promotion. That’s plenty of time to read the article.

David C August 11, 2006 at 11:11 am

IMHO, this directly relates to the Lieberman loss in Conneticut. The powers that be are starting to understand how the welfare state has checkmated the USA from getting the results they need in the middle east.

First, the account deficit has made the US susceptable to economic warfare, Second, there simply isn’t enough money to pay for the war interests AND the welfare state interests. And this is causing the Democratic party to fall apart.

I think they are starting to understand that they are far better off with a Republican/Libertarian ticket than with a Republican/Democrat ticket.

With a Libertarian Republican ticket they can kill the welfare state, push the reset button on the US economy without turning it into a 3rd world country, and keep the Republicans in check. Whenever the Republicans start to pander too much to the welfare state interests, all they do is redirect more money to the Libertarian ticket.

I wouldn’t be supprised if the Deomcratic party falls apart, and the Republican party splits into a libertarian side and a republican side.

Vince Daliessio August 11, 2006 at 5:52 pm

David, while I disagree with your thesis, I think the proximate cause is that some of the writers for the WSJ (as opposed to the full-time editorialists – their reaction to the Lieberman defeat was repulsive)are beginning to realize that Misesians have been right all along about the monstrousness in D.C., (too little too late, IMHO). Lieberman’s defeat by a frankly anti-war candidate is the beginning of the end of the Republicrat Empire, and they are looking back to their Old Right economic roots as a salvation or a panacea. They know the reign of the WSJ as a mainstream paper will end when the Republicans collapse over the next 2 1/2 years, and they will be looking toward Misesians and libertarians for friendship and solidarity (see Bruce Bartlett). We should be forgiving, to a point, but we must not let their economic or political heresies pass unremarked – besides, confession is good for the soul, right?

jeffrey August 11, 2006 at 8:31 pm
R.P. McCosker August 12, 2006 at 12:16 am

Vince Daliessio wrote:

“[T]he Republicans [will] collapse over the next 2 1/2 years [....]”

I wouldn’t mind that.

But just where do you get this information?

Brown August 12, 2006 at 1:08 am


A good place to start is with the words of a major gop fundraiser, Richard Viguerie, and his new book:


Then take a look at the poll numbers on the favourablity ratings for Bush et Cheney. Then the ratings for the war. And, even the numbers on the people who think the government may have known something about 9/11 before it happened.

Then take a look at what Bill Buckley, George Will, Chuck Hagel, and Bob Novak have been saying about our current foreign policy situation.

It seems a storm may be brewing.

R.P. McCosker August 13, 2006 at 12:45 am


Thanks for the clarification.

While I agree that the Iraqi occupation has no long-term future, I’m leery of the business of electoral prophecy. A lot of libertarians and paleoconservatives were making these kinds of predictions when Bush was still only threatening to invade Iraq. Pundits across the spectrum were predicting a near-term stampede against the occupation by Democrat politicians when Rep. Murtha defected. (They overlooked that the Israel lobby has the Democrat Establishment in its hip pocket.)

Right now, the voters are mostly more less against the occupation. (More or less, because polls show the what they really want is only a slow timetable for withdrawal. They’re just weary of the war — they still don’t get the dastardliness and gross counterproductivity of it.)

Viguerie, the has-been direct-mail kingpin, by the way, has no credibility with me. I’m glad he’s finally wised up to the profligate spending practices and general failure to institute conservative domestic policies by Bush long after the years spent by paleolibertarians and paleoconservatives in pointing this out: Duh. But Viguerie is still pushing for the same kind of warmongering, neoimperialist foreign/”defense” policy the Bushniks, maybe even worse. (Conquer the Muslims; whip up hatred against China; keeping enlarging those missile systems etc.)

I only hope a storm is brewing. Maybe the delicious Lieberman loss is its first gale. We shall see.

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