You are browsing the archive for 2013 August 24.

Avatar of admin

by admin

Obama v. Vedder on College Cost

August 24, 2013 in Economics

By Mark Thornton

President Obama has recently addressed the issue of the declining affordability of higher eduction. Richard Vedder, a fellow traveler of the Austrian school, takes on the issue of the ever rising cost of higher education and declining standards of academic rigor here in the Wall Street Journal.

…read more

Source: MISES INSTITUTE

Avatar of admin

by admin

Peter Klein on Mises in ‘Huffpo’

August 24, 2013 in Economics

By Mises Updates

Steve Mariotti writes in The Huffington Post:

Mises, the modern day creator of the Classical Liberal movement (today also called libertarianism) destroyed the intellectual arguments of socialism by proving that it was impossible to allocate scarce resources effectively without private property and free-market prices. He showed that the more the state limited economic incentives to individuals, the greater the harm to low-income people and the general population. Centralized planning, something that was characteristic of all three types of socialism: the Nazis, the Fascists and the Communists, led to the ruin of an economy, and resulted in more and more tyranny and the rise of the totalitarian state.

Mariotti continues:

Mises disciples today see the threat of government intervention in our nation’s economy as seriously undermining economic productivity and self-starting growth. According to Peter Klein, a disciple of Mises:

People are increasingly disenchanted with mainstream Keynesian views of the economy. Keynesians were blindsided by the housing bubble and the financial crisis. Their response was to pump the economy with cheap credit and huge government spending which has only prolonged the agony. The Austrians led by Mises offer a compelling alternative explanation in which booms and busts are caused by central-bank manipulation of interest rates in vain attempts to stimulate or stabilize the economy.

Mariotti concludes:

Anyone wishing to learn more about this fascinating political philosopher should visit Hillsdale College, which houses the personal library and works of Ludwig Von Mises in Hillsdale, Michigan or the Mises Institute located in Auburn, Alabama. The world’s top professional philosophers, economists, students and political scientists attend annual conferences to debate and discuss these ideas; true outcasts in a society haunted by the idea of large coercive regulation and antiquated tax codes on the world’s population.

…read more

Source: MISES INSTITUTE

Avatar of admin

by admin

Paul Cantor on the (Fictional) Apocalypse

August 24, 2013 in Economics

By Mises Updates

Paul Cantor, Mises Inst. Associated Scholar and author of The Invisible Hand in Popular Culture, and Literature and the Economics of Liberty, is featured in the Summer 2013 issue of The Hedgehog Review. His article,  The Apocalyptic Strain in Popular Culture: The American Nightmare Becomes the American Dream, asks why modern popular culture has taken to repeatedly envisioning the reduction of modern society to a primitive subsistence level.

Film and television today are more likely to present images of the American nightmare: our entire civilization reduced to rubble and the few survivors forced to live a primitive existence in terror of monstrous forces unleashed throughout the land. Has the American nightmare paradoxically become the new American dream? Is there some weird kind of wish-fulfillment at work in all these visions of near-universal death and destruction?

Cantor suggests that the answer lies in viewing the apocalyptic narrative as a sort of modernized Western that expresses a desire to experiment with “an image of frontier existence, of living on the edge, of seeing what it is like to manage without a settled government, of facing the challenge of protecting oneself and one’s family on one’s own, of learning the meaning of independence and self-reliance.”

More here.

…read more

Source: MISES INSTITUTE