Ludwig von Mises: Austrian economics in America

1994 ◽  
pp. 62-91
Keyword(s):  
Austrian Economics ◽  
Ludwig Von Mises ◽  
Von Mises

Comment on Horwitz's Article

1996 ◽  
Vol 18 (2) ◽  
pp. 308-313 ◽  
Author(s):  
Allin Cottrell
Keyword(s):  
Government Intervention ◽  
Austrian Economics ◽  
Neoclassical Economics ◽  
Economic Calculation ◽  
Market System ◽  
Neoclassical Theory ◽  
Ludwig Von Mises ◽  
Alternative Approaches ◽  
Von Mises ◽  
Friedrich Hayek

Austrian economics is arousing increasing interest, not to say enthusiasm, these days. No doubt this is in part due to the collapse of the planned economies of the Soviet type, which has lent credibility to the claims of Ludwig von Mises and Friedrich Hayek regarding the impossibility of rational economic calculation under socialism-claims which were disputed by the mainstream neoclassical economists of a generation ago. The phenomenon also reflects a relatively long-standing dissatisfaction with neoclassical economics. For many years it was the radical critics of capitalism who felt most keenly the attractions of alternative approaches in economics. Now, increasingly, champions of the market are coming to believe that neoclassical theory does not offer a deep and firm enough basis for asserting the virtues of the market system, and the counterproductive effects of government intervention therein.

Method, Process, and Austrian Economics: Essays in Honor of Ludwig von Mises

1984 ◽  
Vol 50 (4) ◽  
pp. 1234 ◽  
Author(s):  
Bruce J. Caldwell ◽  
Israel M. Kirzner
Keyword(s):  
Austrian Economics ◽  
Ludwig Von Mises ◽  
Von Mises

Method, Process, and Austrian Economics: Essays in Honor of Ludwig von Mises.

1983 ◽  
Vol 93 (372) ◽  
pp. 920
Author(s):  
Terence Hutchison ◽  
Israel Kirzner
Keyword(s):  
Austrian Economics ◽  
Ludwig Von Mises ◽  
Von Mises

scholarly journals INTERVENÇÃO ESTATAL NA ATIVIDADE ECONÔMICA: A REGULAÇÃO SOB A ÓTICA DA ECONOMIA E OS DIREITOS FUNDAMENTAIS

Percurso ◽  
2019 ◽  
Vol 1 (28) ◽  
pp. 205
Author(s):  
José Raul CUBAS JÚNIOR
Keyword(s):  
Present Article ◽  
State Intervention ◽  
Fundamental Rights ◽  
Austrian Economics ◽  
Ludwig Von Mises ◽  
Von Mises

RESUMOO presente artigo busca descrever a intervenção do Estado na economia à luz dos postulados estabelecidos por economistas membros da Escola Econômica de Chicago [Richard Posner e George Stigler] e da Escola Austríaca de Economia [Ludwig Von Mises] para, ao final, cotejar tais posicionamentos com os comandos insertos na Constituição da República Federativa do Brasil de 1988, em busca de responder se é possível, em nosso país, abolir completamente as medidas de intervenção estatal na economia. Para tanto, o método utilizado é o hipotéticodedutivo, com pesquisa bibliográfica. A principal conclusão alcançada destaca a impossibilidade de abolir as referidas medidas, porquanto também são instrumentos utilizados em favor de efetivar direitos e garantias fundamentais. PALVAVRAS-CHAVE: Intervenção Econômica; Constituição; Garantias Fundamentais. ABSTRACTThe present article seeks to describe the State's intervention in the economic in the light of the postulates established by economists members of the Chicago Economic School [Richard Posner and George Stigler] and the Austrian Economics School [Ludwig von Mises], to compare such positionaments with the commands inserted in the Constitution of the Federative Republic of Brazil of 1988, in order to answer if is possible, in our country, to completely abolish measures of state intervention in the economy. For this, the method used is the hypothetical-deductive, with bibliographic research. The main conclusion reached emphasizes the impossibility of abolishing these measures, since they are also instruments used in favor of realizing fundamental rights and guarantees. KEYWORDS: Economic Intervention; Constitution; Fundamental Guarantees.

The subsistence fund in Ludwig von Mises’s explanation of the business cycle

2021 ◽  
pp. 297-314
Author(s):  
Eduard Braun
Keyword(s):  
Business Cycle ◽  
Human Action ◽  
Jel Classification ◽  
Economic Thought ◽  
Austrian Economics ◽  
Original Version ◽  
Ludwig Von Mises ◽  
El Sistema ◽  
The Business Cycle ◽  
Von Mises

To the present day the circulation credit theory of the business cycle is one of the central themes in Austrian Economics. Its principle examination object is the artificial expansion of circulation credit and the influence the latter has on the economic system. In this paper it is argued that Ludwig von Mises, the originator of this theory, did not expound his theory homogenously. Whereas he stressed the role of the subsistence fund in the original version, he substituted it by other concepts in later publications. It will be shown that, at least in this respect, the original version in Theorie des Geldes und der Umlaufsmittel is more consistent than the later ones, even than the elaborated exposition that can be found in Mises’s most important work, Human Action. Key words: Austrian Theory of the Business Cycle, Ludwig von Mises, Sub - sistence Fund, History of Economic Thought. JEL Classification: B13, B31, E32. Resumen: Hasta hoy, la teoría del crédito circulatorio de los ciclos económi - cos ha sido uno de los temas centrales en la Economía Austriaca. Su objeto principal de investigación es la expansión artificial del crédito circulatorio y su influencia en el sistema económico. En este artículo se objeta que Ludwig von Mises, el autor que planteó de dicha teoría, no la expone de forma ho - mogénea. Mientras que en la versión original acentuó el papel del fondo de subsistencia, sustituyó este concepto por otros en publicaciones posteriores. Se mostrará que, por lo menos en lo que se refiere a esta relación, la versión original en Theorie des Geldes und der Umlaufmittel es más coherente que las posteriores, incluso más consistente que la elaborada exposición de sa-rrollada en su obra más importante, La Acción Humana. Palabras clave: La Teoría Austriaca del Ciclo Económico, Ludwig von Mises, Historia del Pensamiento Económico, Fondo de Subsistencia. Clasificación JEL: B13, B31, E32.

scholarly journals Ludwig von Mises as currency school free banker

2021 ◽  
pp. 13-49
Author(s):  
Joseph T. Salerno
Keyword(s):  
Jel Classification ◽  
Austrian Economics ◽  
Free Banking ◽  
Ludwig Von Mises ◽  
Monetary System ◽  
Means And Ends ◽  
Monetary Equilibrium ◽  
Demand Deposits ◽  
Siglo Xix ◽  
Von Mises

The centennial of the publication of the first German edition of Ludwig von Mises’s The Theory of Money and Credit offers an excellent opportunity to reconsider a long-standing controversy within modern Austrian economics. This revolves around the question of whether Ludwig von Mises favored 100-percent gold reserve banking imposed by law or free banking based on gold as the ideal monetary system. In this paper, I suggest that this debate is fundamentally misfocused and conflates means and ends. I argue that Mises advocated free banking as the most suitable means for achieving the goal of suppressing the issue of fiduciary media, in the form of bank notes and demand deposits. This goal was first enunciated by the nineteenth-century British currency school and embodied in its famous «currency principle.» My thesis is that Mises was a proponent of both the currency principle and free banking and that he viewed the latter as the indispensable means to regulate the behavior of the money supply according to the former. In defending this thesis, I seek to reframe the debate on Mises’s monetary views in a more meaningful way and to contribute to its resolution. Key words: Mises, Currency School, Free Banking, Currency Principle, Monetary Equilibrium. JEL Classification: B31, B53, E42, E52. Resumen: El centenario de la publicación de la primera edición alemana de The Theory of Money and Credit de Ludwig von Mises, ofrece una exce-lente oportunidad para reconsiderar una controversia duradera dentro de la economía austriaca moderna. Ésta gira en torno a la cuestión de si Ludwig von Mises apoyó una banca de reserva en oro del 100% impues-ta por ley o una banca libre basada en el oro como su sistema monetario ideal. En este trabajo, sugiero que este debate está fundamentalmente mal enfocado y confunde medios y fines. Sostengo que Mises defendió un siste-ma de banca libre como el medio más adecuado para lograr el objetivo de suprimir la emisión de dinero fiduciario en forma de billetes bancarios y depósitos a la vista. Este objetivo fue inicialmente enunciado por la Escue-la Monetaria del siglo XIX e incorporado en su famoso «principio mone-tario.» Mi tesis es que Mises fue proponente del principio monetario y de la banca libre, y que observó a esta última como el medio indispensable para regular el comportamiento de la oferta monetaria conforme al prime-ro. En la defensa de esta tesis, trato de replantear el debate sobre las ideas monetarias de Mises de una forma más relevante y contribuir de este modo a su resolución. Palabras clave: Mises, Escuela Monetaria, Banca Libre, Principio Monetario, Equilibrio Monetario. Clasificación JEL: B31, B53, E42, E52.

scholarly journals Perfect Capitalism, Imperfect Humans: Race, Migration and the Limits of Ludwig von Mises’s Globalism

2018 ◽  
Vol 28 (2) ◽  
pp. 143-155 ◽  
Author(s):  
Quinn Slobodian
Keyword(s):  
International Order ◽  
Normative Theory ◽  
Habsburg Empire ◽  
Empirical Reality ◽  
Ludwig Von Mises ◽  
Austrian Economist ◽  
Global Mobility ◽  
Open Borders ◽  
International Theory ◽  
Von Mises

While the Viennese origins of key neoliberal intellectuals is well known, the formative influence of the Habsburg Empire on their thought is surprisingly understudied. This article argues that the empire was a silent and open partner in the writings of Austrian economist Ludwig von Mises on international order, especially on questions of migration and the management of a polyglot population. After 1918 Mises conceived of robust forms of multinational governance capable of protecting a world of what he called ‘perfect capitalism’ with total global mobility of labour, capital and commodities. Yet, by 1945 he had scaled back his proposals to the effective recreation of the Habsburg Empire. I show that Mises’s international theory was cleft by a faultline between a normative theory of an open borders world and the empirical reality of a closed borders world, underwritten by what he saw as the stubborn obstacles of human ignorance and racial animus.

scholarly journals Two theoretical approaches to human behavior and social institutions

2021 ◽  
pp. 13-50
Author(s):  
Javier Aranzadi del Cerro
Keyword(s):  
Market Economy ◽  
Social Institutions ◽  
Dynamic Structure ◽  
Chicago School ◽  
Human Action ◽  
Jel Classification ◽  
Market Process ◽  
Ludwig Von Mises ◽  
Theoretical Approaches ◽  
Von Mises

This paper deals with theoretical approaches to the real economic crisis we are suffering. I set out the poverty of the theoretical solutions offered by mainstream neoclassical economics and the necessity of a new theoretical approach, which is not obsessed by the positivist method. My argument is based on the work of Ludwig von Mises who was considered to give the best theoretical arguments in the debate on the impossibility of efficient economic calculation under centrally planned socialism. Although nowadays the Austrian School is considered old-fashion and lacking in scientific rigour, I agree with the late Professor Sumantra Ghoshal that it is necessary to escape from strait-jacketed methods and try to understand real economics problems. Our market economy is suffering from what he described as the consequences of bad theories destroying good entrepreneurial practices. For I do think that the triumph over communism is in danger of becoming a Pyrrhic victory if we lose our understanding of the market economy and its dynamic structure based on entrepreneurs and firms. Key words: Human action, Ludwig von Mises, Chicago School, entrepre - neurship, market process, social institutions. JEL Classification: A10; B41; B53; D00. Resumen: Este artículo compara los modelos teóricos con los que se analiza la crisis económica que estamos sufriendo. Planteo la pobreza teórica ofrecida por el paradigma neoclásico dominante y defiendo la necesidad de nuevas aproximaciones teóricas que no estén obsesionadas por el método positivista. Mi argumento se basa en la obra de Ludwig von Mises quien fue considerado el economista que esgrimió los mejores argumentos tóricos en el debate sobre la imposibilidad de una cálculo económico eficiente en una económica de planificación central. Aunque hoy en día se considera que la Escuela Austriaca está pasada de moda y falta de rigor científico, estoy de acuerdo con el difunto profesor Sumantra Ghoshal sobre la necesidad de abandonar los métodos encorsetados e intentar comprender los problemas económicos reales. Nuestra economía de mercado está sufriendo las consecuencias de lo que él describe como malas teorías que destruyen buenas prácticas empresariales. Son estas las razones por las que pienso que el triunfo sobre el comunismo está en riego de convertirse en una victoria pírrica si perdemos nuestra comprensión de la economía de mercado y su estructura dinámica basadas en la empresarialidad y la empresa privada. Palabras clave: Acción humana, Ludwig von Mises, Escuela de Chicago, empresarialidad, proceso de mercado, instituciones sociales. Clasificación JEL: A10; B41; B53; D00.

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