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Mises on Robotics

Written by Gary North on June 27, 2015

robots-at-work

Ludwig von Mises was a defender of the concept of the division of labor. He rested his entire social philosophy on this concept. This included his doctrines of social peace, market processes, monetary calculation, and private property. He always returned to this theme: the division of labor. This idea of the division of central to […]

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Progress Makes Genius Routine

Written by Gary North on May 16, 2015

standing-on-shoulders

We forget about one of the great advantages of intellectual progress, namely, that people of above-average intelligence can perform better than geniuses did a century earlier. Think of a graduate of MIT or CalTech today. I do not mean somebody with a Ph.D. I mean somebody with a bachelor’s degree. He is better at physics […]

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Mises University Seminar: 2015 Registration

Written by Gary North on May 9, 2015

mises-institute-seminar

It is not easy to get accepted to the free Mises University summer seminar for college students. The key word is “free.” You know the fundamental law of economics: “At zero price, there is greater demand than supply.” A corollary is this: “When the price falls, more is demanded.” This is a $2,000 value. There […]

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A Letter to David Stockman

Written by Gary North on March 14, 2015

david-stockman

Dear David: I want to let you know just how glad I am I’m not in your shoes. Responsibility goes with the territory. You oversee a lot of territory. You obviously have a lot of spare time on your hands, and so you have started a website. It gets a lot of traffic. The site […]

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Free Market Money vs. FED and Greenbacks

Written by Robert Murphy on March 12, 2015

greenbacks-and-gold

For more than a century, skeptics of government power have rightly focused on the damage caused by interventions in money. As the market’s classic commodity monies have been displaced by unbacked State-issued paper, libertarians — particularly those versed in Austrian economics — have disparaged fiat currencies and championed commodity-based money, especially gold and silver. Unfortunately, […]

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FED: “Recessions R Us”

Posted on March 12, 2015

fed-recession

By David Stockman So now the third immense financial bubble of this century has been fully inflated. And there are abundant signs that what we really have is a Great Immoderation—–a baleful, not beneficent, development that can be laid exactly at the door step of the central bank. Specifically, yesterday’s abysmal data on the soaring wholesale sales/inventory ratio (I/S ratio) is not […]

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Ludwig von Mises: The Comeback Kid

Written by Gary North on February 2, 2015

mises

In my article on “Civilization and the Faculty Lounge,” I told the story of how New York University’s economics department treated Mises with contempt. The economics department of the University of Chicago did the same with F. A. Hayek, a soft-core version of Mises. NYU was a third-tier school. Mises was a greater economist than […]

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“Illegal Immigrants Steal Americans’ Jobs.”

Written by Gary North on December 17, 2014

american-jobs

This is another cliché of protectionism. I keep adding more, here: http://www.garynorth.com/public/department162.cfm The logic of economics applies across borders: county, state, and national. Deny this, and you deny economics. Conservatives deny economics. They promote tariffs and import quotas across national borders, but not state and county borders. Ludwig von Mises had a word for this: […]

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When Hayek Abandoned Mises

Written by Gary North on November 4, 2014

mises-hayek

In June 1960, I received in the mail two books: Frederick Hayek’s The Constitution of Liberty and Ludwig von Mises’s Human Action. I had ordered them from the Foundation for Economic Education. I paid $7.50 for Hayek’s book; I paid $10 for Mises’s book. In 1960, that was the equivalent in today’s money of about […]

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