Transcending Government — A Future of Competitive Governance Driven by “Governance Entrepreneurs” »

In a little-known 2006 World Bank report Where Is the Wealth of Nations? a team of economists provide a snapshot of wealth in 120 countries, and they find that governance is key. A full 46 percent of total wealth in high-income countries derives from the rule of law, the most important factor. This is an...
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Liberty on Film: Hayek and Others »

A colleague sent me a link to the following collection of Hayek interviews, now available online. Other useful sites include: http://miltonfriedman.blogspot.com/ http://www.missliberty.com/ – updates to Miss Liberty’s Guide to Film and Video http://www.youtube.com/user/independentinstitute http://www.cato.org/events/archive.html http://reason.tv/ William F. Buckley, Jr.’s Firing Line show included interviews with people across the political spectrum, now collected at the Hoover...
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The Economist on the Austrian School of Economics’ Relevance in Explaining the Current Crisis »

A Buttonwood column in the new issue of The Economist, “Taking von Mises to pieces: Why is the Austrian explanation for the crisis so little discussed?,” discusses the enormous relevance of the Austrian School of economics, including the work of F.A. Hayek, Ludwig von Mises, and Lawrence White in explaining the current economic crisis....
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Do We Take Miracles of Capitalism for Granted? »

Joseph Schumpeter, in his 1943 book Capitalism, Socialism, and Democracy, was concerned that the people who benefit most from a capitalist economy take its benefits for granted, and cannot be counted on to defend capitalism against its attackers. This would lead to capitalism’s eventual collapse. This seemed plausible in 1943, but less plausible in...
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The Keynesians Were Wrong Way Before the 1970s »

In an editorial published in the Wall Street Journal on 9/11, former Reagan and George H. W. Bush public official Peter Ferrara writes that “the fallacies of Keynesian economics were exposed decades ago by Friedrich Hayek and Milton Friedman. Keynesian thinking was then discredited in practice in the 1970s, when the Keynesians could neither...
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Barack Obama and The Road to Serfdom »

In 1944, a book was published that shook the intellectual and political cultures of the Western world. Dedicated to “The Socialists of All Parties,” The Road to Serfdom was authored by the Austrian School economist Friedrich A. Hayek, who subsequently received the Nobel Prize in Economics in 1974. In his book, Hayek vividly showed...
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