Tag: Austrian School of Economics
Advanced Introduction to the Austrian School of Economics

The second edition of my book Advanced Introduction to the Austrian School of Economics has just been published. The book’s intended audience is people who have some familiarity with economics and are interested in how the ideas of the Austrian school differ from mainstream economic thought. The Austrian school of economics focuses on the...
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Leland B. Yeager: 1924-2018

Leland Yeager, who was a valuable member of the scholarly community, passed away April 23 at the age of 93.

Introduction to the Austrian School of Economics

My book, Advanced Introduction to the Austrian School of Economics, is being translated into Korean, and the translator asked me to provide a short preface for the Korean edition. I’m reproducing it below, partly just to give my book a bit more publicity (it’s affordably priced, if you go with the paperback), partly to...
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Mises, Military, and Market

September 29 is the birthday of Ludwig von Mises, one of the giants of the Austrian School of economics. In my book Choice: Cooperation, Enterprise, and Human Action, I distill the work of Mises as presented in his masterpiece, Human Action. Elsewhere I have summarized his contributions to economic science, so in the present...
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Remembering Arthur Seldon, Champion of Capitalism

May 29 marks the centennial of Arthur Seldon’s 1916 birth. Called “one of the most influential economists of the late twentieth century,” for over three decades he was editorial director of the London-based Institute of Economic Affairs, which The Economist said, “brought to the lay reader the ideas of all the leading free-market economists...
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Giancarlo Ibárgüen S. (1963 – 2016): A Champion of Liberty

Yesterday my heart sank when a former colleague sent me a note saying, “The greatest man is gone... Giancarlo passed away.” This “greatest man” was Giancarlo Ibárgüen S., the former president of Universidad Francisco Marroquin (UFM) in Guatemala, who lost his seven-year struggle with ALS at the age of 53. Giancarlo was my boss...
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Shiller’s Irrational Faith in Government Regulation

In a recent New York Times piece, economist Robert Shiller built an argument that was a non sequitur resting on two false premises. Specifically, Shiller argued: (Premise 1:) Economics courses teach students that market outcomes are “Pareto optimal.” (Premise 2:) In reality, market forces lead to systematic deception and manipulation of the public. (Conclusion:)...
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Why Frédéric Bastiat Still Matters

Yesterday marked the 214th anniversary of Frédéric Bastiat’s birthday on June 30, 1801, in Bayonne, France. One of the seminal thinkers of the classical liberal tradition, Bastiat made great contributions to the field of political economy, laying many of the foundations for the later school of Austrian economics. Both a politician and a writer,...
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Authority and Easter

Easter is the day of liberation—the day the greatest earthly power has done its best, unleashed its ultimate weapon—and been defeated.

If You Like Rights, Liberty, and Economic Opportunity, Celebrate Christmas

Those of us enjoying the multiple benefits of societies built upon respect for our human and economic rights ought especially to pause to give thanks for God’s incarnation as Christ, celebrated this week. There is thankfully now a rich literature from which we can learn how the many principles and laws we take for...
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