It appears technology has moved the world one small step closer to a sound money. On Wednesday, a hotel in Abu Dhabi unveiled the GOLD To Go ATM, a gold dispensing vending machine created by a German firm. The machine dispenses 24-carat gold bars in 1, 5, and 10 gram sizes as well as gold coins. A computer inside the machine keeps track of the
Recently Steve Horwitz has adamantly defended Larry White’s interpretation of Mises’s attitude toward fiduciary media, an interpretation which I have criticized . Steve is surprisingly uncompromising and has even gone as far as to stake Mises’s reputation as a historian of economic thought and monetary theorist on the correctness of White’s
Today is a historic day in Austrian economics. Today a Ph.D.-level seminar in Austrian economics commences at the University of Missouri. What is so important about this event is that the course is not part of a niche Austrian program dependent on external funding, but is part of the regular curriculum of a mainstream program at a major research
Austrian economists dominate the Money and Monetary Policy bestseller list for Kindle downloads . Mises’s The Theory of Money and Credit is ensconced in 2nd place. Friedman and Schwartz’s A Monetary History of the United States is in 4th place sandwiched between Rothbard’s The Case Against the Fed in 3rd place and Mises’s Human Action in 5th
Kudos to the Center for Freedom and Prosperity Foundation for a brilliant and hard-hitting short video demolishing the perennial economic fallacy that minimum wage laws benefit low-skilled workers. It is perfect for introducing the topic to a Principles of Economics
Rothbard’s article “ Hayek and the Nobel Prize ” posted today as a Mises Daily article is an insightful and moving tribute to Hayek. It should finally lay to rest the unfounded claim that Rothbard did not appreciate and build upon Hayek’s immense contribution to economics. One of Rothbard’s greatest contributions to economics was his integration
Russ Roberts’ podcast interview with Larry White is a fascinating listen. White is one of the leading experts (along with Roger Garrison and Gerry O’Driscoll) on Hayek’s monetary thought. Roberts has developed into an outstanding interviewer, asking penetrating questions and making timely comments but allowing the interviewee to shine. And shine
Wall Street analysts and financial pundits are struggling with a “conundrum,” declared the talking head on MSNBC this morning. Retail sales in stores open at least a year (”same-store sales”) posted an unexpected increase of 3.3 percent in January compared to a year earlier. Furthermore, labor productivity rose a seasonally adjusted 6.2 percent in
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.