The Prospects of War
2024-03-02
Tu ne cede malis, sed contra audentior ito
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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
What Would Mises Think? Austria Is Applying (Some) Austrian Economics
2023-12-01
Austria is one part of the name “Austrian economics.” How has the country of Austria prospered by applying Austrian economic concepts? The nation regained full sovereignty in 1955. Their form of government is a parliamentary coalition with a prime minister as head of state and a ceremonial office of president.
How would Ludwig von Mises view Austria today implementing Austrian economics? He would not recognize the country he fled in 1934 ahead of the German war machine and its purposeful discrimination of people of Jewish descent. He would probably be thankful Austria’s Jewish population is thriving. He would also see its standard of living and economy flourishing today.
Austria has large services and industrial sectors, and it has a small, highly developed agricultural sector. The
Henry Kissinger: War Criminal and Enemy of Mankind
2023-12-01
Former US secretary of state and national security advisory Henry Kissinger died on Wednesday. He was 100 years old. Kissinger is perhaps most notable for his work during Nixon Administration when he helped Nixon prolong the Vietnam War and expand it to Cambodia and Laos.
But his influence was certainly not limited to the Nixon years, he served in an official capacity in the Ford administration, and in more informal roles during the Reagan and Bush years as well. Throughout it all Kissinger was a ruthless servant of the American foreign policy establishment. As a Harvard-educated political scientist, Kissinger was employed to provide gravitas and legitimacy to a number of US wars and interventions, most of which ended in bloodbaths for the ordinary people of the countries Kissinger claimed