The Follies and Fallacies of Keynesian Economics

Eighty years ago, on February 4, 1936, one of the most influential books of the last one hundred years was published, British economist, John Maynard Keynes’s The General Theory of Employment, Interest and Money. With it was born what has become known as Keynesian Economics. Within less than a decade after its appearance, the ideas in The General Theory ... [click for more]

Eugen von Böhm-Bawerk: Leading Austrian Economist and Finance Minister of Fiscal Restraint

We live at a time when politicians and bureaucrats only know one public policy: more and bigger government. Yet, there was a time when even those who served in government defended limited and smaller government, one of them being the Austrian economist Eugen von Böhm-Bawerk who was born 165 years ago today, on February 12, 1851. Böhm-Bawerk is famous as ... [click for more]

Inhumanity of the Minimum Wage

A dictator, it is true, can arbitrarily declare human labor to be the only thing of value in the world; and he can set a minimum or a maximum wage, or just fix prices. But he cannot enforce his dictates, because they run contrary to the rules of human behavior. As long as men harbor their own distinctive sense ... [click for more]

Book Review: An Enjoyable Guide to Economics

Popular Economics: What the Rolling Stones, Downton Abbey, and LeBron James Can Teach You about Economics by John Tamny (Washington, D.C.: Regnery Publishing, 2015) 279 pages. It  is often pointed out that man’s improved circumstances on this Earth over the centuries has been the result of the accumulated knowledge that each generation takes from the preceding ones, to ... [click for more]

Serfdom USA (video)

Serf’s up, comrade! Quit your Stalin, and like the video! A new Austrian Economics music video from the Future of Freedom Foundation, called Serfdom USA! If you like the Beach Boys and Hayek, then this is a video you won't want to Mises! [click for more]

John Stuart Mill and the Dangers of Unrestrained Government

One of the great voices for personal liberty was that of the British economist and political philosopher, John Stuart Mill. His essay, “On Liberty,” though penned well over 150 years ago, is a classic statement that the individual should be respected in his right of freedom of thought, speech and action. But John Stuart Mill (1806-1873) was also one of ... [click for more]
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