Category Archive: 6b) Austrian Economics

While talk of high gas prices is no longer a headline issue, energy economics is still a vitally important aspect of understanding the economy, including the business cycle. Mark explains the basics, tells us where we now stand, and what the major implications are for the near future. Be sure to follow Minor Issues at Mises.org/MinorIssues.

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A concrete example of an anarchic order existed within Spain, on the current border between Spain and Portugal, in the kingdoms of Castilla and Galicia. By “anarchy” I mean the abolition of centralized power, not the abolition of authority as leftists conceive it to be. One such regime was called Coto Mixto. It was a small territory located in the basin of the Salas River. Coto Mixto’s residents avoided the control of Spain and Portugal from...

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Fellowships in Residence at the Mises Institute in Auburn, Alabama, are available to graduate students and post-docs interested in scientific research in the Austrian school and libertarian political economy. These Fellowships offer a unique opportunity for full-time research and writing in a particular area of specialization under the guidance of Institute faculty. The program targets students seeking careers as academic educators and researchers,...

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Kimberlé Crenshaw, one of the founders of critical race theory (CRT), recently decried what she called the “war on wokeness” (by which she seems to mean a war on CRT). According to her, this “war on wokeness” is “the road to an authoritarian state that’s paved through the history of white supremacy.” It’s true that the “war on wokeness” has taken on authoritarian overtones of late. Many Republicans are rejecting the ideas of pluralism and free...

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The eminent economist Edmund Phelps is a “liberal” in the modern sense, not a libertarian, but in his recent book My Journeys in Economic Theory (Columbia University Press, 2023), he makes a number of points that those of us who are libertarians will find useful. Opponents of rights-based libertarianism like Andrew Koppelman in his book Burning Down the House say that without government welfare programs, the poor would perish. This outcome is fine...

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In an excellent display of how US foreign policy can be used as a means of pandering to domestic interest groups, the Biden administration has threatened to impose sanctions on Uganda as punishment for that regime's adoption of new laws criminalizing some types of homosexual behavior.  While it is abundantly clear that this move from the Ugandan state presents absolutely no threat to any vital US interest, the Biden administration apparently...

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According to some commentators, the US banking crises is over, or at least can be easily managed by the Federal Reserve System. In addition, the Fed chairman has vouched for the health of the US banking sector. However, the banking crisis is likely in its early stages. What has started as the collapse of regional banks is likely to spread to national banks. The key reason for that is the decline in the pool of savings and continuation of fractional...

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