If avoiding a repeat of the excesses of the French revolution is an important goal, we need a thorough understanding of its causes. Edmund Burke and his conservative followers don’t offer this.

Original article: https://mises.org/mises-wire/what-conservatives-get-wrong-about-french-revolution

Lolcows, part of the world of internet personalities, would seem well beyond the world of economic analysis. Yet, much of what happens can be explained by the paradigm of Austrian economics.

Original article: https://mises.org/mises-wire/austrian-perspective-lolcows

Why do so many intellectuals despise the market that sustains them? Ralph Raico weighs Hayek’s theory of “scientism” against Schumpeter’s portrait of a resentful, over-produced intelligentsia—and finds both wanting, pointing instead to the harder puzzle: why capitalism’s most successful intellectuals are so often its fiercest critics.

Excerpted from chapter 3 of Classical Liberalism and the Austrian School.

Great Britain’s “Equality Act” is not simply a civil rights bill gone too far. It is, as Murray Rothbard would have put it, a “monstrous” piece of legislation that looks to create a social and economic equality that could never exist.

Original article: https://mises.org/mises-wire/uks-monstrous-equality-act

Since abandoning socialism 30 years ago, Poland’s economy has grown, as one would expect with a market economy. However, there could be more economic freedom there that easily would translate into a booming economy.

Original article: https://mises.org/mises-wire/poland-now-its-still-paper-tiger

Carl Menger, founder of the Austrian School of economics, served as the tutor for Austrian-Hungary’s Crown Prince Rudolf, the only son of Emperor Franz Joseph. But Rudolph’s untimely death in 1889 would end up changing the ruling dynamics of pre-World War I Central Europe.

Original article: https://mises.org/mises-wire/carl-menger-crown-prince-rudolf-and-marginal-revolution-never-was

Mises examines the doctrine of a “hampered” or regulated market as a distinct third system and answers Schmalenbach’s thesis that free enterprise was giving way to a bound economy.

Mises’s 1929 preface, written in Vienna for the original German edition, presenting the essays as a sustained critique of interventionism, then the reigning economic policy across Europe and America.

The central essay: interventionism as a supposed economic system, the real nature of intervention, and how price ceilings, minimum wages, and similar measures defeat their own aims—leaving only a choice between the free market and socialism.

The essay added later to the collection: a critique of proposals to nationalize banking and credit, weighing bureaucratic against profit management and warning of credit overexpansion and immobilization.