Thursday , November 23 2017
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Tag Archives: Austrian Economics

For Restaurants, Sweeping the Floor is Equivalent to Cooking Great Food

One of the most popular proponents of BE is Rory Sutherland (who I’ve been praising for years), an ad executive with Ogilvy Mather. The interesting thing about Sutherland is that he also calls himself a follower of Mises, in addition to promoting popular BE concepts and nudges. He once gave a talk at Google titled “Praxeology: Time to Rediscover a Lost Science.” Praxeology, of course, was Mises’s preferred term for the general science of human action. One quote...

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DeLong on Scott’s Seeing Like a State

I was talking to an economist friend today about Berkeley economist Brad DeLong and I told him that my two favorite DeLong pieces are his "Cornucopia," which I have blogged about, and his review of James Scott's Seeing Like a State. My friend hadn't heard of the latter. Here are some excerpts to tantalize the reader. The second paragraph:On one level, it is an extraordinary well-written and well-argued...

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Call for Papers: 2017 SDAE meetings (Tampa, FL, November 17-19)

The annual meeting of the Society for the Development of Austrian Economics will be held during the Southern Economics Association meetings in Tampa, FL at the Tampa Marriott Waterside Hotel and Marina, November 17-19, 2017 (Friday to Sunday; more information can be found here: https://www.southerneconomic.org/conference/). Members interested in presenting papers, serving as chairs/discussants, or proposing entire panels should submit proposals by Friday, April 1, 2017. Please...

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Toward A New World Order, part III

A new world order is coming of age and the transition is painful to accept for a Western middle class with a deep-seated sense of entitlement. We showed how the West feels threatened globally in Toward a New World Order and followed up explaining how this translate into domestic politics in Toward a New World Order Part II. We will now continue this series by showing how gross economic mismanagement have created the new political...

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Salute to Von Mises: For 92 Years He Has Fought the Good Fight

(Reprinted by courtesy of Barron’s National Business and Financial Weekly, October 1, 1973 issue, and with permission of Dr. Henry Hazlitt.) Reprinted from Mises.org Last Saturday marked the 92nd birthday of Ludwig von Mises, the greatest analytical economist of his generation. He has also been one of this century’s ablest champions of private enterprise and the free market. Those 92 years have been amazingly fruitful. In conferring its Distinguished Fellow award in 1969, the American...

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Hans Sennholz: Misesian for Life

Reprinted from Mises.org Hans F. Sennholz is one of the handful of economists who dared defend free markets and sound money during the dark years before the Misesian revival, and to do so with eloquence, precision, and brilliance. From his post at Grove City College, and his lectures around the world, he has produced untold numbers of students who look to him as the formative influence in their lives. He has been a leading public voice for freedom in times when such voices have been...

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The Road to Fascism in Just Two Charts

Laws of politics have been turned upside down. The Intellectuals Yet Idiots can make no sense of it. The underdog who ‘tell it how it is’ appeal to people while established reasoning does not.  Politicians used to pit people against each other and bribe key electoral groupings with the spoils of ‘democratic’ victory to maintain power; well aware that the “…[process] will [only] endure until the day [politicians] discovers that it can...

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Equilibrium and Foresight

A recent piece by Raphaële Chappe discusses the uses and limitations of general equilibrium theorizing. The post is a long-read, but Chappe briefly summarizes the point when she writes: ...the theory lacks explanatory relevance, providing instead a language through which one can say both too much and too little. The theory's abundance of riches within its own multiverse is to be contrasted with its complete neglect of some important aspects of real-world markets, such as for example the...

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