While F.A. Hayek is known for his term “spontaneous order,” Mises saw institutional development as coming from growth in human understanding of things.

Original Article: Mises versus Hayek on the Future of Civilization

Despite what many elites believe, AI can do many things, but it cannot successfully plan an economy. It lacks the intelligence of an entrepreneur.

Original Article: "AI Lacks the Entrepreneurial Intelligence to Plan an Economy"

Much of government-owned transportation destroys rather than adds to wealth. The lack of a sound system of economic calculation is to blame.

Original Article: "The Problem with Public Transit"

Economic calculation is not an either-or proposition. Even in so-called market economies like that of the USA, there is plenty of government intervention that distorts market processes.

Original Article: "Economic Calculation Is Nonbinary"

Following the collapse of the USSR, many socialists pinned their hopes upon the development of a "market socialism" that would be economically efficient and create equality. Marxist philosopher G.A. Cohen wisely dissented.

Original Article: "What Marxists Say about "Market Socialism""

On this episode of Good Money, Tho is joined by Tate Fegley of Montreat College. Dr. Fegley talks about his lectures from Mises University on policing, AI, and the deep state, and the important topic of economic calculation that connects the three. In the final segment, Tho looks at the economics of college football in the aftermath of FSU's threat of secession from their conference. 

Good Money listeners can order a special $5 book bundle that includes How To Think About the Economy and What Has Government Done to Our Money? with free shipping using promo code "GoodMoney" at Mises.org/Good

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Experienced entrepreneurs are Austrians.

Download the slides from this lecture at Mises.org/MU23_PPT_35.

Recorded at the Mises Institute in Auburn, Alabama, on 28 July 2023.

Game theory done the wrong way eliminates individual choice.

Download lecture slides at Mises.org/MU23_PPT_30.

Recorded at the Mises Institute in Auburn, Alabama, on 27 July 2023.

Recorded at the Mises Institute in Auburn, Alabama, on 27 July 2023.

“Our civilization is inseparably linked with our methods of economic calculation. It would perish if we were to abandon this most precious intellectual tool of acting.”

Download lecture slides at Mises.org/MU23_PPT_28.

Recorded at the Mises Institute in Auburn, Alabama, on 27 July 2023.