Volume 5, No. 2 (Summer 2002) Empirical analysis and interpretation of employment and interest data based on the Hayekian triangle have proved highly fruitful in revealing new information about the structure of U.S. production. Statistical inference has demonstrated the Hayekian triangle’s strong explanatory power. Demonstration of stable,
Volume 7, No.1 (Spring 2004) Complexity, Risk, and Financial Markets completes Peters’s trilogy by presenting the underlying philosophical case for chaos theory, which turns out to be grounded on distinctively Austrian views of information and market process. This book should be read by Austrians interested in, or already familiar with,
Volume 9, No. 2 (Summer 2006) ABC theory is founded on the concept of a sustainable, market-determined interest rate, and predicts negative consequences when that equilibrium is persistently disturbed. Economists and laypeople are well aware of these consequences: the periodic high unemployment associated with the business cycle. The policy
Volume 10, No. 1 (Spring 2007) Time preference, one of the fundamental concepts of economics, is the ratio between the present values of present and future goods. Mises (1949) holds that time preference is the only reason interest is paid on loans, calling the pure time preference component originary interest. Empirically observable interest
Volume 12, Number 4 (2009) Robbins contributed the most definitive modern definition of the discipline, one which is now widely accepted. Although limited by his overly restrictive assumptions on information, his definition represented a great leap forward in the profession’s self-understanding. The major limitation of Robbins’s definition is
Volume 11, No. 2 (2008) Entrepreneurs exploit market opportunities and innovate to achieve or maintain strategic advantage over their competitors.In the absence of government regulation, entrepreneurs are free to focus on improving satisfaction of customer wants, for example, by enhancing current goods, supplying new goods, or supplying
Volume 17, No. 3 (Fall 2014) ABSTRACT : Keynes’s theory of Aggregate Expenditures from the General Theory is examined and criticized. Keynes suggested numerous reasons why his marginal propensity to consume (MPC) might vary across individuals, over different time periods, and might be fundamentally heterogeneous in other respects, but assumed
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.