Macro Claus Wishing You A Merry Christmas

This wonderful video was produced by John Papola who produced the Fight of the Century (Hayek v. Keynes) videos with Russ Roberts. Here he gives us a Christmas gift on the fallacy of consumption as the road to wealth and prosperity. Enjoy!



Mises Lecture: The Problems Of Inflation

The Mises Institute has a collection of lectures by Ludwig von Mises, the greatest Austrian School scholar. There are other audio lectures from FEE as well. Apparently this lecture on inflation was recently found in the Mises Institute archives. This was recorded in 1965 when he would have been 84. It is a rare treat [...]


Ludwig von Mises: Scholar, Creator, Hero

Ludwig von Mises

I am republishing Murray Rothbard’s tribute and biography of Ludwig von Mises,  ”Ludwig von Mises: Scholar, Creator, Hero” that was published by the Mises Institute. It is a long article, but it is an excellent summary of the great man’s life and his ideas. For those of you who hunger for more, [...]


Why The Economy Is Stagnating

You must read this short article by Ludwig von Mises on savings and capital. This topic is absolutely critical to an understanding of what is happening in our economy today. He wrote this in 1963 for the Freeman and has been republished in the collection, Economic Freedom and Interventionism (1980).

What I love about him is that he writes [...]


Criticism Of Faith-Based Economics

This quote was “borrowed” from Cafe Hayek this morning. It is from Roger Farmer, head of UCLA’s Econ department, out of his book, How the Economy Works:

Keynesian economists in the Obama administration and their supporters in academia and in the media have not provided an internally consistent theory that explains why the free market [...]


Industrial Production Declines–Again

Lest I be accused of confirmation bias, cherry-picking data, or curve-fitting to prove my point about our stagflationary economy, I wish to say that I don’t make this stuff up. These data are real.

My Austrian epistemological foundation tells me to first come up with a correct theory and then try to examine relevant data to [...]


Mises v. Hayek v. Boudreaux

Recently Cafe Hayek’s Don Boudreaux put up a list of his top ten economists. There was one glaring omission: Ludwig von Mises. I was absolutely bowled over by this. He mentions a lot of fine economists, with Friedrich von Hayek his number one choice. When asked about Mises he says:

Don: Mises has just never [...]


A Thorough Explanation of QE2 From An Austrian Perspective

These CGI cartoons are going viral. This one is from and the Mises Institute.


In Praise of Theory

This is an article I did for a local newspaper for which I write a regular column on economics. Size limitations required the article to be very concise, thus a philosophical treatise on theory, epistemology, and intellectual trends was not possible. But I think it came out well. What do you [...]


Stock Markets, Cycles, and Dopamine

This is an article on behavioral economics, markets, business cycles and Austrian theory. It was written by Doug French, president of the Mises Institute. I am reproducing it in its entirety. Anyone who invests in stocks, bonds, real estate, gold, or whatever, should read this article.

After reading the article I was reminded again of [...]


The Great Depression: A Short History

By Jeff Harding

This article on the Great Depression was written in 1969 by Hans Sennholz, an Austrian theory scholar and professor. Ludwig von Mises had escaped the Nazis in Vienna and then in Switzerland to arrive in New York in 1940. Mises arrived with nothing, almost the last surviving scholar of the Austrian School.  Sennholz was Mises’s [...]