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Mises Institute USA

One Hundred Years of Medical Fascism

[Originally published April 2010.] One hundred years ago today, on April 16, 1910, Henry Pritchett, president of the Carnegie Foundation, put the finishing touches on the Flexner Report.1 No other document would have such a profound effect on American medicine, starting it on its path to destruction up to and beyond the recently passed (and laughably titled) Patient Protection and Affordable Care Act of 2010 (PPACA), a.k.a., "Obamacare." Flexner can only be accurately understood in the...

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What’s with the Rich Kid Revolutionaries?

By now, readers are no doubt familiar with the sight of angry mobs smashing windows, looting stores, and harassing pedestrians and street diners around the country, supposedly in the name of advocating for the rights of black Americans. Around the country, these mobs are diverse and have diverse motives, ranging from simply wanting to loot and get free stuff to being driven by deeply held ideological beliefs. However, one can’t help but notice that in many places a significant number of those...

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Five Active Processes of Austrian Economics That Helped Bob Luddy Build One of America’s Most Successful Entrepreneurial Businesses

Key Takeaways and Indicated Actions Bob Luddy is founder and CEO of CaptiveAire (CaptiveAire.com), the US market leader in commercial kitchen ventilation systems. It’s a $500MM+ business with 1,000+ employees and a 40+-year success record. Bob explains to Economics tor Entrepreneurs how these principles of Austrian economics, applied as active processes, played a part. Say’s Law Say’s Law is a fundamental proposition in support of a production-driven market system as opposed to a...

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Richard Ebeling Fills in the History of the Austrian School

Richard Ebeling is the BB&T Distinguished Professor of Ethics and Free Enterprise Leadership at The Citadel. (He was also a professor at Hillsdale College, where he taught Bob Murphy.) As a master of the history of economic thought, as well as a personal participant in some of the major events, Richard recounts to Bob some of the important history of the Austrian School in the 20th century. Mentioned in the Episode and Other Links of Interest: The YouTube version of this episode.Richard...

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Abolishing Meritocracy Will Require a Whole Lot of Government Intervention

The Tyranny of Merit: What’s Become of the Common Good? By Michael J. Sandel. Farrar, Straus and Giroux, 2020. 272 pages. Michael Sandel, who is a popular professor of government at Harvard, has written a strange book, even for a Harvard professor. Many critics of the free market, such as John Rawls, complain that the market is unfair because people do not start from a level playing field. We need to provide equality of opportunity so that people have an equal chance for the best positions....

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In August, Money Supply Growth Hit a Record High for the Fifth Month in a Row

In August, for the fifth month in a row, money supply growth surged to an all-time high, following new all-time highs in April, May, June, and July that came in the wake of unprecedented quantitative easing, central bank asset purchases, and various stimulus packages. The growth rate has never been higher, with the 1970s being the only period that comes close. It was expected that money supply growth would surge in recent months. This usually happens in the wake of the early months of a...

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Inflation: Its Effects and Failures

Inflationism is that policy which by increasing the quantity of money or credit seeks to raise money prices and money wages or seeks to counteract a decline of money prices and money wages which threatens as the result of an increase in the supply of consumers’ goods. In order to understand the economic significance of inflationism we have to refer to a fundamental law of monetary theory. This law says: The service which money renders to the economic community is independent of the amount of...

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Human Diversity and Individual Instruction

One of the worst injustices committed by states is the prevention of parental teaching of their own children. Parental instruction conforms to the ideal arrangement. It is, after all, individualized instruction. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: "Human Diversity and Individual Instruction".

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Why They Want to Destroy Julian Assange

Julian Assange's heroic but tragic life is coming to a head in the next weeks. A British court shall soon rule whether Assange, ostensibly a publisher and journalist, shall be extradited to the United States to be charged with espionage. Though many people around the world have followed Assange's hardships on and off during the last decade, it is really now, during this sham trial in London, that the importance of the struggle for political freedom should become clear to all. In the widest...

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