Category Archive: 6b) Austrian Economics

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Mises U Students Interview Some of Their Favorite Faculty Members

2023-07-28

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2023-07-28

This year during Mises University, we want to share the perspective of students in the program. The following are YouTube shorts from some of this year's Mises Apprentices, interviewing some of their favorite faculty members. [embedded content] [embedded content] [embedded content] Mises University is going on the entire week. You can watch live from home at mises.org/live.The Best Week of the Year is only possible due to the generosity of our...

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What Marxists Say about “Market Socialism”

2023-07-28

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2023-07-28

After the collapse of socialism in the Soviet Union, many socialists, reluctant to abandon their socialist convictions, shifted to a belief in “market socialism.” The great Marxist philosopher G.A. Cohen was not among them, and in this week’s column, I’d like to examine what he says about market socialism in his essay “The Future of a Disillusion,” published in the New Left Review (November–December 1991). Cohen acknowledges that socialists were...

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Economic Inequality

2023-07-28

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2023-07-28

Inequality is a good thing in the free market. Economic equality is a disastrous government policy that leads to economic ruin for all—including the poor and workers. Download the slides from this lecture at Mises.org/MU23_PPT_36. Recorded at the Mises Institute in Auburn, Alabama, on 28 July 2023. Economic Inequality | Mark Thornton Video of Economic Inequality | Mark Thornton

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Firms, Managers, and Entrepreneurship

2023-07-28

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2023-07-28

Experienced entrepreneurs are Austrians. Download the slides from this lecture at Mises.org/MU23_PPT_35. Recorded at the Mises Institute in Auburn, Alabama, on 28 July 2023. Firms, Managers, and Entrepreneurship | Per Bylund Video of Firms, Managers, and Entrepreneurship | Per Bylund

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Higher Education in Crisis

2023-07-28

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2023-07-28

Ineffective teaching, the enrollment cliff, stifled academic discourse, and government driving up tuition. Download the slides from this lecture at Mises.org/MU23_PPT_34. Recorded at the Mises Institute in Auburn, Alabama, on 28 July 2023. Higher Education in Crisis | Timothy D. Terrell Video of Higher Education in Crisis | Timothy D. Terrell

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Modern Socialism Is Forced Socialization

2023-07-28

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2023-07-28

Modern socialism is based upon state interference in normal human relationships, economic and otherwise. It is as disastrous as the older state-planning model. Original Article: "Modern Socialism Is Forced Socialization"

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Even in Slave Economies, the Division of Labor Was Inescapable

2023-07-28

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2023-07-28

Status inequality is inevitable due to the uneven distribution of talent. Even in poor societies, talented people eclipse their peers by joining the ranks of the elite. Inequality is an indication that ability is recognized by society. The absence of inequality suggests that talent is uncultivated. Failure to cultivate talent hampers the organization of society. In all societies there are people more equipped to perform some tasks than others, and...

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The Rise of State-Controlled Medical Care

2023-07-27

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2023-07-27

Dr. Terrell discusses the impacts of price controls, occupational licensure, the FDA, and more. Download the slides from this lecture at Mises.org/MU23_PPT_32. Recorded at the Mises Institute in Auburn, Alabama, on July 27, 2023. [embedded content]

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Bureaucrats in the Deep State

2023-07-27

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2023-07-27

Bureaucrats operate with de facto electoral unaccountability. Download lecture slides at Mises.org/MU23_PPT_31. Recorded at the Mises Institute in Auburn, Alabama, on 27 July 2023. Bureaucrats in the Deep State | Tate Fegley Video of Bureaucrats in the Deep State | Tate Fegley

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Game Theory

2023-07-27

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2023-07-27

Game theory done the wrong way eliminates individual choice. Download lecture slides at Mises.org/MU23_PPT_30. Recorded at the Mises Institute in Auburn, Alabama, on 27 July 2023. Game Theory | Lucas M. Engelhardt Video of Game Theory | Lucas M. Engelhardt

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Private Corporations Don’t Cause Price Inflation. Governments Do.

2023-07-27

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2023-07-27

Interventionists always blame inflation on everything and anything except the only thing that makes aggregate prices rise: Issuing more units of currency than the real demand. Seller inflation is the same excuse and fallacy as cost-push inflation. A way to confuse citizens and assign causation to something that cannot make aggregate prices rise. Let us debunk some myths. No corporation or conglomerate can make aggregate prices rise. Some...

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Mises U Students Share Their Favorite Finds at the Mises Institute

2023-07-27

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2023-07-27

This year during Mises University, we want to share the perspective of students in the program. The following are YouTube shorts from some of this year's Mises Apprentices, sharing some of their favorite parts of the Mises Institute. [embedded content] [embedded content] [embedded content] Mises University is going on the entire week. You can watch live from home at mises.org/live. The Best Week of the Year is only possible due to the...

Read More »

Mises U Students Share Their Favorite Finds at the Mises Institute

2023-07-27

by

2023-07-27

This year during Mises University, we want to share the perspective of students in the program. The following are YouTube shorts from some of this year's Mises Apprentices, sharing some of their favorite parts of the Mises Institute. [embedded content] [embedded content] [embedded content] Mises University is going on the entire week. You can watch live from home at mises.org/live. The Best Week of the Year is only possible due to the...

Read More »

The Cost of College and Accompanying Student Debt Create a Negative Social ROI

2023-07-27

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2023-07-27

Remember that credit is money. —Benjamin Franklin The June 2023 Supreme Court decision to reject the Biden administration’s plan that pandered to those claiming impoverishment by the costs of higher education is a second-act curtain on the student debt drama. A third act in the drama was outlined by President Biden on June 30 using piecemeal administrative decisions. For more than twenty years, the federal student loan program has been mismanaged....

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Central Banking and Inflation

2023-07-27

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2023-07-27

Some problems with inflation measures, inequality and social mobility, and further implications. Download lecture slides at Mises.org/MU23_PPT_27. Recorded at the Mises Institute in Auburn, Alabama, on 27 July 2023. [embedded content]

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An Austrian Analysis of Covid Vaccines

2023-07-27

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2023-07-27

Public health during the pandemic was anti-science and anti-health. Download lecture slides at Mises.org/MU23_PPT_26. Recorded at the Mises Institute in Auburn, Alabama, on 27 July 2023.

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The Tao and the Synergy of the Spontaneous Order

2023-07-27

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2023-07-27

More than two thousand years ago, the ancient Chinese Tao presented ideas that are reflected in F.A. Hayek's concept of spontaneous order. Original Article: "The Tao and the Synergy of the Spontaneous Order"

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Hail the Speculators! They Take the Necessary Economic Risks in Our Economy

2023-07-27

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2023-07-27

There are few individuals as reviled and vilified in our modern age as speculators. Economic turmoil of all shapes and sizes are placed squarely on their shoulders. Why do we have recessions from time to time? Because of the irrational speculators, of course. Why do economic bubbles exist? Because of wild overspeculation, undoubtably. Why are prices rising so quickly? The ceaseless activity of the speculators, no doubt. Yet it is seldom—if...

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The real failure of “trickle down economics”

2023-07-27

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2023-07-27

Part II of II If this kind of theoretical reasoning seems too abstract, let us think about it more practically: Any public servant, any member of government, and even the leader of a nation, has very different motivations than any private sector decision-maker. Their financial compensation is a given and their time preference is dictated by their job description.  The company owner on the other hand has no such guarantees regarding their...

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Striking Hollywood Actors and Writers Might Have to Get Used to Stagnant Wages

2023-07-26

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2023-07-26

People with jobs, children, and actual responsibilities might not have noticed, but Hollywood is nearly shut down right now thanks to both a writers' strike and an actors' strike. Or more specifically, the writers and actors—who are members of unions—are on strike. Members of SAG-AFTRA (SAG) and the Writers Guild of America (WGA) are refusing to work until TV and movie studios agree to a variety of demands. These actors and writers may be in for...

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