Who Hijacked Our Free Will?
2024-02-26
Imagine someone giving a State of the World address that begins with a reminder that people possess free will and ought to be doing a better job of exercising it. This could possibly raise doubts about the speaker’s mental stability—at least until the talk went into the dark details of civilization’s condition.
Human Action Conference 2024
2024-02-24
Students apply for a scholarship here.
"Once in a great while, a book appears that both embodies and dramatically extends centuries of accumulated wisdom in a particular discipline, and, at the same time, radically challenges the intellectual and political consensus of the day. Human Action by Ludwig von Mises is such a book, and more: a comprehensive treatise on economic science that would lay the foundation for a massive shift in intellectual opinion that is still working itself out fifty years after publication."
So begins the introduction to the 1998 scholar’s edition of Mises’s Human Action, written by Jeffrey Herbener, Hans-Hermann Hoppe, and Joseph Salerno. These words still ring true today.
We are excited to invite you to join us at the Mises Institute in Auburn, Alabama, for our
Do Human Emotions Better Help Us Understand Economic Analysis?
2024-02-22
According to behavioral economics (BE), emotions play an important role in an individual’s decision-making process. For example, if consumers become more optimistic regarding the future, then this is going to send a message to businesses regarding investment decisions. According to BE followers, whether consumers are generally patient or impatient determines whether or not they are inclined to spend or save today.
Behavioral economists emphasize the importance of personality. An emphatic person is regarded more likely to make altruistic choices. Impulsive people are more likely to be impatient and not so good at saving up for their retirement. Venturesome people are more likely to take risks—they will be more likely to gamble.
If emotions are an important factor in the decision-making