Misesians in Japan
Marc Abela talks with us about the state of Austrian economics and the freedom philosophy in Japan.
Marc Abela talks with us about the state of Austrian economics and the freedom philosophy in Japan.
My journey with Austrian economics and the Mises Institute began in 1992.
The economics profession acknowledges Menger’s place due to his contribution to the Marginalist Revolution in the 1870s, it otherwise ignores him because his theoretical framework does not lend itself to policy prescriptions.
Entrepreneurship is the driving force of a market economy, and that entrepreneurs need property rights, the rule of law, sound money, and free and open competition to be successful.
Forbes’s “stable and flexible” gold standard would facilitate and camouflage an inflationary expansion of the money supply that would, according to Austrians, distort capital markets and lead to asset bubbles. The motto of our current gold-price fixers seems to be: “We want sound money — and plenty of it.”
Labor unions and the general public almost totally ignore the essential role played by falling prices in achieving rising real wages.
In recent years, we’ve seen more and more Austrian-tinged economic analysis. There has been tremendous growth in interest in Austrian economics among financial professionals.
The first-ever libertarians were the Levellers, an English political movement active in the seventeenth century.