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The Great Mary O’Grady on the U.S. Border Crisis

The Great Mary O’Grady on the U.S. Border Crisis | Austrian economics | Scoop.it
(Don Boudreaux) The Wall Street Journal‘s Mary Anastasia O’Grady rightly refuses to join the chorus of sanctimonious and ill-informed conservatives who blame Barack Obama for the appalling spectacle on display now on the U.S.’s southwestern border.
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Economics of the Undead: Zombies, Vampires, and the Dismal Science

Economics of the Undead: Zombies, Vampires, and the Dismal Science | Austrian economics | Scoop.it
by Glen Whitman
Last year in this space, I posted the Call for Abstracts for a forthcoming book called Economics of the Undead. That project is now coming to fruition!
Peter Boettke's insight:

NYU PhD Glen Whitman, who has built a career not only as a law and economic scholar but as a Hollywood writer, has published this new book ... purchase and use in your classes ... your students will appreciate it.

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The Rebirth of Austrian Economics - Ludwig von Mises Institute ...

The Rebirth of Austrian Economics - Ludwig von Mises Institute ... | Austrian economics | Scoop.it
The Institute for Humane Studies (IHS) organized the South Royalton Austrian Economics conference, and brought to Vermont three of the leading Austrian economists of that time to deliver a series of unique and important ...
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Posted before, but worth a second and closer read -- as Ebeling always is ... 

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Nomos LV : Federalism and Subsidiarity

Nomos LV : Federalism and Subsidiarity | Austrian economics | Scoop.it
[self-promotion alert]
Published today: Nomos LV: Federalism and Subsidiarity (hardcover or electronic).
Nomos LV: Federalism and Subsidiarity, edited by James E. Fleming and Jacob T.
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Post-Crash Economics | The Institute for New Economic Thinking

Post-Crash Economics | The Institute for New Economic Thinking | Austrian economics | Scoop.it
This discontent was born in the “post-autistic economics movement,” which started in Paris in 2000, and spread to the United States, Australia, and New Zealand. Its adherents' main complaint was that the mainstream ...
Peter Boettke's insight:

In rethinking the economics curriculum, rethink the history of the discipline ... to help in that see the latest paper by Chris Coyne, Pete Leeson and myself ... Earw(h)ig: I cannot hear you because your ideas are too old, Cambridge Journal of Economics (May 2014).

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Eric Mack on Robert Nozick at the SEP

Eric Mack on Robert Nozick at the SEP | Austrian economics | Scoop.it
Over at the Stanford Encyclopedia of Philosophy, Eric Mack has an excellent (and long overdue) new entry on Robert Nozick’s political philosophy.
Peter Boettke's insight:

I have long argued that rather than viewing the central idea in Nozick as individual rights and the idea of rights as trumps, the critical reading is the centrality to social philosophy of invisible-hand style of reasoning.   Very few follow me in that narrative.

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The Rebirth of Austrian Economics - Somewhat Reasonable - Heartland Institute (blog)

The Rebirth of Austrian Economics - Somewhat Reasonable - Heartland Institute (blog) | Austrian economics | Scoop.it
Somewhat Reasonable - Heartland Institute (blog) The Rebirth of Austrian Economics Somewhat Reasonable - Heartland Institute (blog) Peace_dollar Forty years ago, during the week of June 15-22, 1974, the Austrian School of Economics was reborn...
Peter Boettke's insight:

Anything Richard Ebeling writes about Mises and Austrian Economics I read immediately ... and so should you!

 

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Is the Market Efficient? Cliff Asness Says Yes, and No - ThinkAdvisor

Is the Market Efficient? Cliff Asness Says Yes, and No - ThinkAdvisor | Austrian economics | Scoop.it
ThinkAdvisor
Is the Market Efficient? Cliff Asness Says Yes, and No ThinkAdvisor Invoking an article he wrote with John Liew for the March 2014 issue of Institutional Investor, Asness said that “I also think markets work very well (not perfectly)...
Peter Boettke's insight:

Listen to this man!!!

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Piketty: A Wealth of Misconceptions - Barron's

Piketty: A Wealth of Misconceptions - Barron's | Austrian economics | Scoop.it
Piketty: A Wealth of Misconceptions
Barron's
DONALD J. BOUDREAUX is professor of economics at George Mason University and holds the Martha and Nelson Getchell Chair at the Mercatus Center. E-mail: editors@barrons.com.
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John Blundell on the Rebirth of Austrian Economics, David ...

John Blundell on the Rebirth of Austrian Economics, David ... | Austrian economics | Scoop.it
Starting in 1974, the Institute for Humane Studies (IHS), based at that time in Menlo Park, California, began an ambitious plan to resurrect the then near to dead Austrian school of thought in economics.
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Economics students of the world, unite! - FT.com (blog)

Economics students of the world, unite! - FT.com (blog) | Austrian economics | Scoop.it
FT.com (blog)
Economics students of the world, unite!
FT.com (blog)
Economics students from 19 countries have united to call for change in the way the subject is taught.
Peter Boettke's insight:

Hey, study PPE -- being with Adam Smith and David Hume and then move through the classical and early neoclassical period to then study post WWII thinkers such as James Buchanan, Ken Boulding, F. A. Hayek, Albert Hirschmann, Deirdre McCloskey, and Amartya Sen.  #economistswhoarephilosophicallysophisticated

 

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A Note on “Human Capital”

A Note on “Human Capital” | Austrian economics | Scoop.it
| Peter Klein | Like Peter Lewin, Walter Block, Mario Rizzo, and Peter Boettke, I greatly admire the late Gary Becker, a pioneer in many areas of economics and sociology, a strong proponent of economic and personal freedom, and by all accounts a...
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Peter Klein -- self-recommending ... it is because of the investment he made in human "capital" that enables him to make so much economic sense?

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Gary Becker, an economist who changed economics - Washington Post

Gary Becker, an economist who changed economics - Washington Post | Austrian economics | Scoop.it
Washington Post Gary Becker, an economist who changed economics Washington Post Gary Becker, the Nobel laureate and University of Chicago economist who died this weekend, was offered many honorifics: “the greatest living economist,” a...
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How Adam Smith Can Change Your Life

How Adam Smith Can Change Your Life | Austrian economics | Scoop.it
(Russ Roberts) My book on the lessons in The Theory of Moral Sentiments for modern life is now available for pre-order at Amazon. Release date is October 9. Not a novel.
Peter Boettke's insight:

I am buying this ... YES I definitely am.  Probably ebook, hard and paperback to be honest with you.

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Hayek and the Intellectuals - Global Economic Intersection

I wish only to correct some of the profound distortions of Hayek's views embodied in the Boettke-IHS position. Boettke exhorts his young opponents to re-read Hayek's article carefully. But when one does so, it is clear that ...
Peter Boettke's insight:

Ugh!  Distortion, distortion, distortion ... so much noise but so little "music".  I am willing to debate the merits of my intellectual interpretation and any time, but that shouldn't be our focus.  I would argue that if we want to impact social change our focus should be on exactly what channels ideas have an influence in the practical affairs of men.  But even there, that isn't MY concern -- my focus is way more myopic than that, I want to view Austrian economics as a scientific research program and therefore my focus is on how to get the ideas associated with Mises, Hayek and Kirzner more widely discussed and worked on within the _scientific_ community of economists and political economists.  I don't really care about the "libertarian movement" as such, I care a lot about truth tracking in economics and political economy.  If you care about Austrian economics as a scientific tradition, then all this mixing up with libertarian populism just undermines the efforts to advance what you care about.  And, if you care about libertarianism, then you should want a set of political philosophical positions and public policy pronouncements to be based on what is _scientifically_ true, rather than what makes you feel good because it fits with your priors.  Either way then, you should care that the economics discipline being tracking truth in the "right direction".  At least that is how I see it.

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Playconomics video game teaches theory of economics - Phys.Org

Playconomics video game teaches theory of economics - Phys.Org | Austrian economics | Scoop.it
Phys.Org
Playconomics video game teaches theory of economics
Phys.Org
"It is perfect for self-education and we really think it will change the way we teach economics," concludes Motta.
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Wealth by degrees

Wealth by degrees | Austrian economics | Scoop.it
IS A university degree a good investment? Many potential students are asking the question, especially in countries where the price of a degree is rising, as a result... (Is university worth the cost?
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Turning Piketty Right Side Up - George Reisman - Mises Daily

Turning Piketty Right Side Up - George Reisman - Mises Daily | Austrian economics | Scoop.it
While his book is ostensibly devoted to the study of capital and its rate of return, Piketty comes to his subject apparently without having read a single page of Ludwig von Mises or Eugen von Böhm-Bawerk, the two leading ...
Peter Boettke's insight:

Very little editorializing by me needed here ... 

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The Origin of Social Norms

The Origin of Social Norms | Austrian economics | Scoop.it
| Peter Klein |
Some findings that would not have surprised Carl Menger:
Ode to the sea: Workplace Organizations and Norms of Cooperation
Uri Gneezy, Andreas Leibbrandt, John A. List
NBER Working Paper No.
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U of Chicago's Casey Mulligan Wins Major Economics Prize - Breitbart News

U of Chicago's Casey Mulligan Wins Major Economics Prize - Breitbart News | Austrian economics | Scoop.it
Breitbart News
U of Chicago's Casey Mulligan Wins Major Economics Prize
Breitbart News
University of Chicago economist Casey Mulligan has won the prestigious 2014 F.A.
Peter Boettke's insight:

Absolutely fantastic news!

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Cliff Asness Will Not Be Waiving His Fees For Family Members - DealBreaker

Cliff Asness Will Not Be Waiving His Fees For Family Members - DealBreaker | Austrian economics | Scoop.it
Cliff Asness Will Not Be Waiving His Fees For Family Members
DealBreaker
“I think as a starting point, I don't think (markets) are perfectly efficient. I do think we can do better.
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entrepreneurship and capital maintenance ... 

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Reviewing Piketty’s Blockbuster

Reviewing Piketty’s Blockbuster | Austrian economics | Scoop.it
(Don Boudreaux) Here’s my Barron’s review of Thomas Piketty’s Capital in the Twenty-First Century.
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The Acton Institute's Journal of Markets & Morality Expands ...

The Acton Institute's Journal of Markets & Morality Expands ... | Austrian economics | Scoop.it
Now entering its 17th year, the Journal features articles, reviews, and special features, including new translations of primary source texts and controversies on disputed questions in ethics and economics.
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Gary Becker and the Economics Revolution That Wasn't - New Yorker (blog)

Gary Becker and the Economics Revolution That Wasn't - New Yorker (blog) | Austrian economics | Scoop.it
New Yorker (blog) Gary Becker and the Economics Revolution That Wasn't New Yorker (blog) the filmmaker Charles Ferguson, in his documentary “Inside Job,” unmasked several prominent economists as highly paid Wall Street consultants; and George Soros...
Peter Boettke's insight:

OK, I find John Cassidy an enjoyable writer, but his twisted logic and penchant for spinning conspiracy stories where they aren't ---- economists can honestly disagree John!!!; and Paul Krugman doesn't now and never has defined the discipline  --- is hard to take at times.  

 

A gifted writer with a mushy understanding nevertheless produces easy reading mush.  Might be time to update one's understanding of economics to get rid of the mushiness.

 

Becker was right on this because, well, he was right.  It is important to stress that while there may be macroeconomic phenomena and problems there is only microeconomic explanations and solutions.  The folks peddling the conspiracy of confusion story about economics and economic policy are hopelessly intellectually against the logic of basic economic theory --- witness the Cassidy's confusion in his interview with John Cochrane in the New Yorker over the issue of a "bubble".  He simply doesn't understand the point Cochrane is making about the nature of error in decision making and the movement of prices.  Cochrane 1, Cassidy 0 in basic economics.  Becker does the same thing in his interview, despite Cassidy's extreme confidence at the time that he understood economics better than some of the best practitioners in the world.

 

Scientific and scholarly disagreement isn't a consequence of nefarious interest groups consciously manipulating the simple truth of activist policy into order to protect their business interests.  Economic scientists and scholars disagree because they have different priors and different theoretical frameworks, and they work with different models, and they interpret the data differently.  What we need is _not_ unity of position, but contestation of ideas and what Vincent Ostrom refers to as "democratic administration" rather than "bureaucratic administration".

 

BTW, for those on the left you cannot simultaneously claim that a conspiracy of confusion has blocked the adoption of enlightened interventionist policy, and then also claim that the improvement in unemployment statistics is due to the interventionist policies of the Obama administration.  Either we had austerity, and the economy is recovering, or we didn't really get austerity, and the economy is improving.  OR, lets admit the economy seems to be recovering and we cannot really say why it is with any sense of extreme confidence.  Such humility should then lead to our next claim --- the #1 of public policy, like medicine, should be first do no harm.

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Texas A&M names new dean for Fort Worth-based law school - Fort Worth Business Press

Texas A&M names new dean for Fort Worth-based law school - Fort Worth Business Press | Austrian economics | Scoop.it
Texas A&M names new dean for Fort Worth-based law school
Fort Worth Business Press
...
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