Many Pathways to Policy Failure

by Jeffrey A. Tucker
The American Institute for Economic Research

“Economics must not be relegated to classrooms and statistical offices and must not be left to esoteric circles,” wrote Ludwig von Mises. “It is the philosophy of human life and action and concerns everybody and everything. It is the pith of civilization and of man’s human existence.”

He wrote that in 1949, a time when the world was coming out of the darkest days of the 20th century and seeking a new way. The way forward involved taking economics seriously.

It seems incredible to observe that those dark days are back: protectionism, shutdowns, state management of life, and a renewed push for socialism, the most anti-economic ideology ever conceived.

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