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International Man: The average person doesn’t care about economics. But to the extent that he does, he only reads mainstream publications like The Economist and editorials in The New York Times. In these publications, the average person will find so-called economists advocating upside-down and destructive concepts like negative interest rates, banning cash, debt-fueled consumption, government spending, and rampant money printing as the cures to economic ailments. And if those methods don’t work—or inflict damage—the establishment economists’ response is to simply call for more mon...

The proper way to study human action is to break it down into the following categories History-What we did Economics-What we do Psychology-Why we do Ethics-What we ought to do This essay is a discussion of the psychology of human action from a Misesian perspective meaning we start our analysis at the level of the individual. Psychology, in this sense, is an attempt to understand the primary considerations that humans use to make the constant stream of decisions that comprise each day. In his masterpiece book “Human Action” Mises develops the field of praxeology, the method of studying soci...

“The lamps are going out all over Europe; we shall not see them again in our lifetime.” Sir Edward Grey, 1914 “Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron’s cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.” C.S. Lewis Darkness is indeed enveloping Europe … Continue r...

Yuri Nicholas Maltsev is an Austrian school economist and economic historian from Tatarstan. He earned his BA and MA degrees from Moscow State University and PhD in labor economics at the Institute of Labor Research in Moscow. Before defecting to the United States in 1989, he was a member of a senior Soviet economics team that worked on President Gorbachev’s reforms package of perestroika. He is currently professor of economics at Carthage College in Kenosha, Wisconsin. He has appeared on CNN, PBS NewsHour, Fox News, CBC, and Financial Network News across American, Canadian, and European te...

From: DontPeal MyOnion Sent: Wednesday, July 21, 2021 3:07 PM To: Walter Block <wblock@loyno.edu> Subject: The Pure Time-Preference Theory of Interest Dear Walter: I have searched far and wide, for references, with your take on ‘The Pure Time-Preference Theory of Interest’. The only reference I found was: “Professor Rothbard and the Theory of Interest.” In Man, Economy, and Liberty. Walter Block and Llewellyn H. Rockwell, Jr., eds. Auburn, Ala.: Ludwig von Mises Institute, 1988. I’m writing this asking if there is a reference out there (that I missed) with your take...