3 thoughts on “What is your opinion of Ludwig Von Mises, the Mises Institute, and Austrian free-market economics?”

  1. von Mises and the Austrian School are actually quite typical of the “free-market” theorists: they advocate a free-market, completely free of government intervention, yet provide absolutely ZERO safeguards against oligopoly, plutocracy, and/or polyarchy. Therefore, the free-market/anti-government school is fundamentally flawed in that they oppose government intervention,yet are not opposed to the notion of a tiny entity/elite making all the major economic decisions (i.e. government by default). A free-market is NOT a free-market if ALL market participants are not equally free to participate.

  2. Ludwig von Mises – a brilliant scholar. Occasionally rantish in his writings, but, when you boil him down to the actual points he’s making, he was consistently ahead of his time. Also, his methodology is vastly superior to the mainstream approach to economics.

    Mises Institute – Well, I did work there for a summer. Great experience. Understands that its primary mission is education regarding liberty and Austrian economics, and consistently acts toward that mission.

    Austrian free-market economics – in four letters: true (basically, anyway). Captures a number of theoretical concerns that are not captured in standard mainstream economics (especially regarding capital structure and the importance of subjective preferences), and these concerns overthrow the ability of policy to reliably improve on market outcomes. Naturally, there are some imperfect/incomplete parts of the theory. But, that’s the nature of human understanding.

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