With all the discussion over the need for healthcare in the U.S., one question is never asked: is a person’s health insurable? The Austrian economist Ludwig von Mises helped clarify what types of events are open to insurance when he defined two types of probability. Case probabilities are those events for which we know some of the factors that
One lesson from the United States’ Obamacare debacle has been that if Congress can’t get its way through regulation, it can always resort to taxes. At least that’s the Supreme Court’s view, after it declared the Affordable Care Act constitutional because it amounted to a tax, something that falls under the domain (apparently) of Congress. So, now
With reporters of the Western World losing their heads over the outbreak of the Ebola virus, it’s helpful to put it in the context of other diseases. This year roughly 8,000 West Africans have contracted the disease, mostly limited to just four countries (Liberia, Nigeria, Sierra Leone and Guinea). Of these there are 3,866 confirmed deaths, for a
Con toda la discusión sobre la necesidad de atención médica en los EE. UU., una pregunta nunca se hace: ¿es asegurable la salud de una persona? El economista austriaco Ludwig von Mises ayudó a aclarar qué tipos de eventos están abiertos al seguro cuando definió dos tipos de probabilidad. Las probabilidades de caso son aquellos eventos para los
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.