Nobel laureate and Classical Liberal economist James M. Buchanan has died today. He was one of the most important economist of the 20th. Century and will be long remembered for his work on the principles of economic self-interest and their use to understand why politicians do what they do.
Instructor: David Gordon Cost:$79 (50% off!) Dates: September 12 – November 6, 2012 Length: Eight weeks
It is perhaps the most important and profound book ever written. Yet how many, in their attempts to read it, have been stopped in their tracks by Part I? In those 7 chapters, Mises lays out the philosophical underpinnings of economics and social philosophy. So they are crucial for understanding the rest of the treatise. Yet, for the reader not versed in philosophy, the technical terminology and references can be daunting.
In this course, David Gordon will clearly explain everything you need to know to make sense of the concepts presented in these chapters. He will define the terms, provide background for the references, and make clear exactly what it is that Mises is saying in these passages.
If this classic has been sitting on your shelf or in your Kindle, just waiting for you to tackle it, there is no better way to start than with this course, which will be followed by subsequent courses taught by Mises Academy faculty, covering the rest of Human Action.
The video lectures are online. Lectures will be Wednesday evenings, 6:30-8:00 pm Eastern time. They will be recorded and made available for enrolled students to download.
All readings will be free and online. A full hyper-linked syllabus with readings for each weekly topic will be available for all students.
Grades and Certificates
The final grade will depend on quizzes. Taking the course for a grade is optional. This course is worth 3 credits in our own internal system. Feel free to ask your school to accept Mises Academy credits. You will receive a digital Certificate of Completion for this course if you take it for a grade, and a Certificate of Participation if you take it on a paid-audit basis.
If you drop the course during its first week (7 calendar days), you will receive a full refund, minus a $25 processing fee. If you drop the course during its second week, you will receive a half refund. No refunds will be granted following the second week.
The passion of the teacher is often the inspiration for the student. In Living Economics: Yesterday, Today, and Tomorrow, Peter J. Boettke illuminates how economics affects all walks of life, whether in the marketplace, voting booth, church, family, or any human activity. Boettke believes that economics is not merely a game to be played by clever professionals, but a discipline that touches on the most pressing practical issues at any historical juncture. The wealth and poverty of nations are at stake; the length and quality of life turns on the economic conditions individuals find themselves living with.Economics provides a powerful framework for understanding what goes on in the marketplace, the voting booth, the family, the community, and every other sphere of social activity; indeed, the application (or misapplication) of its principles shapes the fate of nations. So teaching and learning economics are high stakes ventures. Living Economics introduces us to major thinkers: from Smith, Say, and Bastiat of the Classical School, to Neoclassical and Austrian scholars (Menger, Mises, Hayek, Kirzner, and Rothbard) on to New Institutional economists (Alchian, Coase, Demsetz, North, Ostrom and Williamson) and Public Choice theorists (Buchanan, Tullock, and others). This engaging and reasoned book is a must-read for economists, students, and everyone else who wishes to better understand economics. » Read the Full Summary
eBook Coming Soon!
Praise for Living Economics:
“Living Economicsis a superb book. . . . It is vintage Boettke: engaging, witty, and chock full of insight. This book should be put in the hands of every first-year student of economics!”
—Bruce Caldwell, Research Professor of Economics and Director, Center for the History of Political Economy, Duke University
“Boettke’s extraordinary intellectual generosity and unmatched intellectual enthusiasm [are] rare qualities which have enabled him to discover nuggets of valuable theoretical insight in the work of a wide array of economists, many of whom are generally thought to be far away from the Austrian tradition which Boettke himself splendidly represents.”
—Israel M. Kirzner, Professor Emeritus of Economics, New York University
“Living Economics is a solid book that counters the excessive simulations of modern academic economics while, at the same time, avoiding the temptation to extend application of the logic beyond reasonable limits.”
—James M. Buchanan, Jr., Nobel Laureate in Economic Sciences, Advisory General Director of the Center for Study of Public Choice, and Distinguished Professor Emeritus of Economics, George Mason University
“Boettke’s passion for economics and the clarity of his vision make Living Economicsa pleasure to read. No reader will fail to benefit from his broad and deep insights.”
—Steven E. Landsburg,Professor of Economics, University of Rochester; author, The Armchair Economist
“Living Economics is inspired by Boettke’s students and great teachers, such as Boulding and Kirzner, and the central theme that economics has strayed dangerously from a ‘mainline’ emphasis on process and rules, as opposed to outcomes. The mainline sinew is rooted in Adam Smith’s The Theory of Moral Sentiments extending to Hayek, Ostrom and other moderns whom Boettke examines with deep understanding of their relevance for our time.”
—Vernon L. Smith, Nobel Laureate in Economic Sciences; George L. Argyros Endowed Chair in Finance and Economics, Chapman University School of Law
“Loaded with content well worth reading and carefully arrayed gems from the history of thought. . . . But be careful as you read, Boettke’s love affair with economics is contagious. You will find yourself cheering for more.”
—Bruce Yandle, Professor of Economics Emeritus, Clemson University
“Boettke’s deep scholarship, serious reflections and passion for economics come through on every page.”
—Steve H. Hanke,Professor of Applied Economics, Johns Hopkins University
“Living Economics is a spirited, passionate, and exciting tour of free-market economics. I enjoyed every page!”
—Andrei Shleifer, Professor of Economics, Harvard University; Faculty Research Fellow, National Bureau of Economic Research
Today I finished reading a great book titled “The Morality of Capitalism” written by Tom G. Palmer.
The book is the result of a project done by the US based think tank “Students for Liberty“. As explained by the think tank leaders, the book was written as a “new tool in the fight for liberty, a new book on The Morality of Capitalism, What Your Professors Won’t Tell You.”
“Love and friendship are the fruits of mutual benefit through cooperation, whether in small or in large groups. Without such mutual benefit, society would simply be impossible.” – Tom G. Palmer
The book combines the writings of various philosophers, economists, Nobel Prize winners, and entrepreneurs to make the case that not only do “markets deliver the goods” as Vernon Smith says, but that a true free market system is a prerequisite for a just, prosperous, and cooperative society.
Its been long since the last time I heard a candidate from the GOP really defending the values of fiscal conservatism, respect for individual freedom and a non-interventionist foreign policy for the US in a debate. I have heard it in some Democrat candidates from past debates but never in a Republican debate. Luckily, I was happy to hear Ron Paul doing so and getting my support and applauses.
Last night, November 23th 2011, CNN, the American Enterprise Institute and the Heritage Foundation sponsored a debate on foreign policy. I leave you now with an interesting summary and some notes done by CBS of the most relevant candidates:
This was the Texas lawmaker’s strongest debate, getting lots of airtime and challenging many of his rivals about U.S. foreign policy. His views are not in the mainstream of Republican orthodoxy, but he is consistent in his beliefs and not afraid to tell voters what he really thinks. His fundraising numbers could go up in the short-term, based on his debate performance Tuesday night, even if long-term it may be hard for him to broaden his support.
Success begets success. Newt has done well in past debates and it has helped him in the polls. With his polling success, moderators gave him more airtime, which allowed the one-time afterthought and current front-runner to show off his debating skills. He took a risk by going against conservative Republican orthodoxy on immigration, and that could backfire, but overall Gingrich showed that he has been thinking about these issues for decades. And since it was a debate focused on foreign policy, no one asked him about his relationship with mortgage giant Freddie Mac and the $1.6 million he earned, which also helped the former House speaker.
As the former ambassador to both China and Singapore, Tuesday’s national security debate was Jon Huntsman’s moment to shine. And for the most part, he succeeded: Huntsman, who touted throughout the debate his experience living abroad, presented clear policy positions on Pakistan and Afghanistan – at one point getting into a heated debate with Mitt Romney over the Afghan troop drawdown ¬- and even managed to bring the conversation back around to the American economy. Perhaps for the first time in the campaign, the former Utah governor was able to set himself apart from the rest of the GOP crowd.
Despite having largely been written off as a major player in the race for the Republican presidential nomination, Rep. Michele Bachmann delivered a strong performance in Tuesday’s debate, demonstrating her confidence discussing policy issues, and taking her competitors to task when they faltered. In a heated exchange with Rick Perry over providing aid to Pakistan, the Minnesota lawmaker blasted the Texas governor for what she described as his “highly naïve” take on the issue; later, she sparred with Newt Gingrich for his stance on immigration. Whether or not Bachmann’s performance was strong enough to get her back in the game remains to be seen – but she certainly earned more screen time than in recent debates.
Romney had one of his worst performances of the 11 debates so far, but he still managed to do fairly well. Romney is a front-runner for a reason: he has been running for president for five years and that practice has paid off for the former Massachusetts governor. Romney skillfully turned questions about foreign policy into answers about domestic issues where he was able to contrast his own positions with those of President Obama, cementing the idea that this race is going to come down to Romney and one other candidate.
Rick Santorum is still widely considered a long-shot candidate, but he earned his fair share of airtime in Tuesday’s debate. And while the former Pennsylvania senator may not have said much to change how America feels about him – he endorsed racial profiling Muslims and mistakenly referred to Africa as a country – he made his best effort to make his way back onto the public’s radar.
Herman Cain did not have the standout moment he needed to prove to voters he has a command of foreign policy. After surging in the polls, Cain’s campaign has lost momentum in recent days, most notably after stumbling over a question regarding Libya. The only memorable moment from Cain in this debate came when he flubbed debate moderator Wolf Blitzer’s name, calling the CNN anchor “Blitz.”
The Texas governor took some bold positions during this debate, but his policy stances were vigorously challenged by his colleagues. Perry almost seemed to immediately backtrack on the tough stance he took against foreign aid to Pakistan after Michele Bachmann called his position “naive.” Perry was also on the defense when other candidates — Mitt Romney, Herman Cain and Ron Paul — said they disagreed with Perry’s assertion that the U.S. should consider a no-fly zone over Syria.