Peter Boettke @PeterBoettke Twitter profile

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Peter Boettke

@PeterBoettke

18 days

Hayek wrote The Road to Serfdom, The Constitution of Liberty and Law Legislation and Liberty all arguing for the essential framework of law, customs and mores. James Buchanan wrote The Calculus of Consent, The Limits of Liberty and The Reason of Rules. @JosephEStiglitz just a few

Joseph E. Stiglitz

@JosephEStiglitz

19 days

No one’s truly free without rules and regulations. Counterintuitive? Think stoplights. Without them, pandemonium and gridlock. With them, I stop so you can drive through, and vice versa. We both have the freedom to move about with fewer traffic jams and accidents. This same idea

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Peter Boettke

@PeterBoettke

6 days

Happy Birthday Professor Hayek (May 8, 1899)

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Peter Boettke

@PeterBoettke

4 years

Happy Birthday to Professor Hayek (May 8, 1899-March 23, 1992)

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Peter Boettke

@PeterBoettke

1 year

When I think economists this is what I am thinking

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Peter Boettke

@PeterBoettke

3 years

Coming out soon ... spread the news

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Peter Boettke

@PeterBoettke

7 months

Why Israel Kirzner Deserves a Nobel Prize | Peter J. Boettke Here is my wish for 2023 — Kirzner, McCloskey and Mokyr for their contributions to our theoretical understanding and empirical performance of the entrepreneurial economy for economic growth and

Why Israel Kirzner Deserves a Nobel Prize

Israel Kirzner has, along with William Baumol and Harold Demsetz, done more than any other living modern economist to improve our understanding of competitive behavior and the operation of the price...

fee.org

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Peter Boettke

@PeterBoettke

4 years

So this is happening!!!

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Peter Boettke

@PeterBoettke

4 years

Constructing a progressive research program in political economy. All work, Buchanan used to stress, is work in progress in science. #lifelonglearning

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Peter Boettke

@PeterBoettke

1 year

Introduce yourself with 7 books. 1. Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations. 2. L Mises, Human Action. 3. FA Hayek, Individualism and Economic Order. 4. FA Hayek, The Constitution of Liberty. 5. James Buchanan, What Should Economists Do?

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Peter Boettke

@PeterBoettke

2 years

Look what arrived in today’s mail. Order your copy today!!!

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Peter Boettke

@PeterBoettke

3 years

Despites its pretensions, economics has become less scientific and more susceptible to political influence, writes @alexwsalter via @WSJ

Opinion | How Economics Lost Itself in Data

Today’s researchers have tossed out price theory and don’t realize they’ve been politically compromised.

www.wsj.com

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Peter Boettke

@PeterBoettke

1 month

Sorry, you can’t be serious! Have you looked at debt; Fed balance sheet; regulatory burden; trade protectionism; immigration restrictions; the militarization of local police; etc. I think you might misunderstand that Austrian economics is a scientific research program not an

Sohrab Ahmari

@SohrabAhmari

1 month

Don’t anybody tell him that our country has been misruled by men and women, Republicans and Democrats, beholden to Austrian neoliberal claptrap for the better part of two generations.

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Peter Boettke

@PeterBoettke

2 years

Public choice analysis is not a conspiracy story, it is about the systematic incentives that political actors face in choosing between alternative courses of action. That matters for how bureaucracies behave, how committees make decisions, and how politicians message campaigns.

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Peter Boettke

@PeterBoettke

10 months

When Hayek won the Nobel Prize, his lecture was an indictment of the contemporary (circa 1970s) practice of economic "science" -- it is very much worth reading his analysis of how and why economics became so messed up. This essay is not primarily about policy, but the

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Peter Boettke

@PeterBoettke

1 year

Whatever it is in contemporary Austrian economics that attracts odious racial doctrines and illiberal attitudes in general needs to be identified, exposed and rejected. It has no place in the scientific tradition that evolved from Menger to Mises to Hayek to Kirzner.

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Peter Boettke

@PeterBoettke

1 year

I just learned today that Yuri Maltsev passed away. Devastating news. Yuri was funny, generous, and insightful. I was fortunate that he wrote the preface to my first book even though we have never meet at that time.

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Peter Boettke

@PeterBoettke

8 months

Here are 2 stories I heard in 1980s and 1990s from students who pursued their PhDs at GMU. 1 student wrote a fan letter to Milton Friedman and asked him about where to study economics and Friedman told him if he really wanted to learn economics go to GMU. That kid had that

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Peter Boettke

@PeterBoettke

3 years

Book actually arrived today

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Peter Boettke

@PeterBoettke

1 year

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Peter Boettke

@PeterBoettke

1 year

There actually is a book out critically engaging libertarian arguments, published by Princeton University Press. Let’s dig into this one.

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Peter Boettke

@PeterBoettke

9 months

I work with great colleagues. Would love to work another 25 years with them learning and discussing economic science, the art of political economy and social philosophy.

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Peter Boettke

@PeterBoettke

1 year

Tonight we celebrated the life of our late colleague Walter E Williams.

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Peter Boettke

@PeterBoettke

2 years

Quote of the day, perhaps quote for everyday

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Peter Boettke

@PeterBoettke

1 year

Excited for this paper to be published later this year and circulate. We sure hope it reaches a wide audience of professional economists and social scientists.

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Peter Boettke

@PeterBoettke

6 months

Southern Economic Association 2023 meetings in the books. Been attending since mid 1980s as this was the intellectual home of Virginia School of Political Economy since James Buchanan served as President in early 1960s. I served as President in late 2010s, in between many in

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Peter Boettke

@PeterBoettke

16 days

A major error in Mill was the separation of production and distribution, and thus distribution is a function of political will not economic forces. The evolution of economic thought in the early neoclassical economics was to demonstrate the distribution and production were

Joseph E. Stiglitz

@JosephEStiglitz

21 days

Our society has decided to accept enormous inequality but it doesn't have to. If we finally reject neoliberal doctrines and structure society in a way that takes all people and their right to live a full life into account—freer to live up to their potential—we would be better

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Peter Boettke

@PeterBoettke

1 year

Property gives rise to prices; prices communicate the relevant contextual knowledge; these aids to the human mind provide the basis on which decision makers engage in economic calculation. Property, prices and profit-and-loss are all critical to rational economic calculation.

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Peter Boettke

@PeterBoettke

3 years

Received in the mail today

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Peter Boettke

@PeterBoettke

4 months

Bigger shock to me is actually the figures for Econ majors. It means they didn’t absorb the point of the socialist calculation debate nor did they look at the historical evidence of socialism in practice. So it would be fascinating to see what economic principles they base

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Peter Boettke

@PeterBoettke

2 years

Pre order now

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Peter Boettke

@PeterBoettke

1 year

It is truly a monumental achievement .. A fascinating, readable biography of Friedrich Hayek | The Economist

A fascinating, readable biography of Friedrich Hayek

Bruce Caldwell and Hansjoerg Klausinger puncture some long-standing myths about the Austrian economist

www.economist.com

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Peter Boettke

@PeterBoettke

10 days

The political economy of public policy should never be treated as a footnote, it has to always be front and center if we hope to understand.

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Peter Boettke

@PeterBoettke

6 years

Contending perspectives has always been a great way to teach ...

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Peter Boettke

@PeterBoettke

5 months

Juan de Mariana (1536–1624) wrote on regicide and the King paid no attention, but then he wrote about inflation, and the King prosecuted him. Think about what that says about the role of economists in society. Are we to be advisors to the powerful and the privileged, or merely

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Peter Boettke

@PeterBoettke

2 years

I assign 2 core books in my Econ 676 course, Voigt to stress that INCENTIVES MATTER and Lavoie to stress that KNOWLEDGE IS NECESSARY and together that INSTITUTIONS structure incentives and generate the relevant knowledge to be utilized and communicated.

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Peter Boettke

@PeterBoettke

1 month

I think every economist and economic policy decision maker needs to read Adam Smith. Let’s start with the premise that gov should only do those things which citizens cannot do for themselves or cannot do well, and gov can do well. Solve for that equilibrium given what you know

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Peter Boettke

@PeterBoettke

3 years

First look the design for my next book. I think the cover is actually very cool. I don't think its available for pre-order on Amazon yet, but it should be published by the end of the term.

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Peter Boettke

@PeterBoettke

4 years

Douglass North gave me this advice very early in my career, one of the best I have ever received.

Prof. Feynman

@ProfFeynman

4 years

If you're the smartest person in the room, then you're in the wrong room. 🧠

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Peter Boettke

@PeterBoettke

6 months

Thankful for freedom — economic, political and social — Estonia provides a wonderful demonstration of the consequences of state control and the relaxing of state control.

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Peter Boettke

@PeterBoettke

3 years

Quick reminder to EconTwitter, in most Econ101 courses and text, by this time of year the students are talking about little else than market failures — monopoly power, externalities, public goods, information asymmetry, etc. Not entrepreneurship, innovation and progress.

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Peter Boettke

@PeterBoettke

1 year

I have been trying to explain this for over 30 years to resistant ears. This presents the positive case, I was presenting it more critically. Maybe that explains the resistance, but if so then more reason to state the case clearly and convincingly I say. So thankful for Crotty.

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Peter Boettke

@PeterBoettke

6 years

Happy Birthday to F A Hayek. My book on his ideas will be out in the fall.

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Peter Boettke

@PeterBoettke

24 days

Moments of Economists in popular culture that I know of: 1. Mick Jagger and Hayek

Mick Jagger is a fan of F.A. Hayek

www.youtube.com

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Peter Boettke

@PeterBoettke

1 year

In 1984, I was introduced to Lucas’s work my first class in Macro 1. I read everything I could, and became obsessed with his invoking of Hayek and wrote a paper comparing and contrasting … Robert E. Lucas Jr. Brought Rationality to Macroeconomics - WSJ

Opinion | Robert E. Lucas Jr. Brought Rationality to Macroeconomics

A Nobel laureate and a giant in the field dies at 85.

www.wsj.com

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Peter Boettke

@PeterBoettke

1 year

PSA: Hayek’s argument in Road to Serfdom is not a deterministic slippery slope argument, its a logic of the situation argument and if one continues on a certain path there is a logical outcome.

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Peter Boettke

@PeterBoettke

3 years

Last year my dear friend, co-author, and general intellectual partner published a primer on Austrian Economics and to accompany it he released a series of videos. Please consider watching them today ...

The Marginal Revolution and the Birth of the Austrian School-...

In the Marginal Revolution, economics abandoned the cost-of-production theory of value used by the classical economists in favor of the modern, marginal theo...

www.youtube.com

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Peter Boettke

@PeterBoettke

11 months

This is from Milton Friedman’s review of Lerner’s Economics of Control in the JPE 1947. Note that he is making the Mises-Hayek point about the calculation problem being the more fundamental issue compared to the straight up incentive issue.

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Peter Boettke

@PeterBoettke

1 year

@NewmanJ_R That’s a misreading of Hayek. His argument isn’t computational complexity. He pointed out that Pareto and Barone made that argument, but his knowledge argument was about the contextual nature of our knowledge that is utilized in the price system and serves as the basis of

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Peter Boettke

@PeterBoettke

1 year

My reading today. When I was preparing for grad school, I read ⁦ @lawrencehwhite1 ⁩ Free Banking in Britain, and he still is to me someone who tells us what the argumentative bar is as a professional economist. #ReadWhite

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Peter Boettke

@PeterBoettke

1 year

Don Lavoie's two books Rivalry and Central Planning (Cambridge 1985) and National Economic Planning: What is Left? (Ballinger, 1985) are required reading for those interested in learning about the economic calculation debate. But he also has several articles ...

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Peter Boettke

@PeterBoettke

1 month

Starting when I was a grad student, but especially during my assistant professor years at NYU, folks that supposedly cared told me if I wanted to succeed I needed to translate the insights of Austrian economics into formal models and econometric tests. I have refused because my

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Peter Boettke

@PeterBoettke

4 months

The problem of economic calculation is not exclusively a problem of socialism, it is a general problem that ALL systems of social cooperation must address. The argument is that the tools of commercial society aka capitalism are evolved to address it ( property, prices &

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Peter Boettke

@PeterBoettke

11 months

Steve passed away 2 years ago. He was my scientific partner and my deer friend. I loved him and miss him. Peter Boettke & Steven Horwitz on Austrian Economics in Recent Times, Pt. 1 | Mercatus Center

Peter Boettke & Steven Horwitz on Austrian Economics in Recent Times, Pt. 1

In part one of a two-part series, Peter Boettke and Steven Horwitz share a conversation about Austrian economics and its infl

www.mercatus.org

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Peter Boettke

@PeterBoettke

5 years

Why economists need economic history

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Peter Boettke

@PeterBoettke

2 years

Hanging out with my new buddy at GMU. ⁦ @ccoyne1 ⁩

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Peter Boettke

@PeterBoettke

5 months

In the mid 1980s, I attended a lecture by Solow for young economists on the job market where he gave great advice. One of the crowd asked, why should I conform to those expectations. Solow responded, you don’t have to, but if you don’t then also don’t expect to have easy time

Ivan Werning

@IvanWerning

5 months

RIP. Bob Solow an absolute giant in Economics, has passed away at age 99. Tremendously influential in the profession and one of the key founders of the MIT Economics department as we live it today. Will be sorely missed.

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Peter Boettke

@PeterBoettke

1 year

I was taught early in my academic career that if you are discussing ideas with someone and rather than criticize the logic or the paucity of evidence but instead discuss the funding sources, or the personal characteristics of those holding the positions in question, then the

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Peter Boettke

@PeterBoettke

5 months

Personal highlights of 2023 — 40th wedding anniversary, becoming a grandparent for first time; receiving the Clark-Kent-Aronoff Award from APEE, being named Distinguished Fellow of SEA; publishing survey of contemporary Austrian Economics in Annual Review of Economics, publishing

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Peter Boettke

@PeterBoettke

1 year

Foucault on reading Marx

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Peter Boettke

@PeterBoettke

1 year

If Andrew Koppelman gets it in his critique of libertarianism, perhaps everyone should. Read what he says …

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Peter Boettke

@PeterBoettke

2 years

The ideas that impacted me in 1970s and shaped my world view: open markets, including free flow of labor, capital and goods throughout the globe; anti-war; end draft; pro-choice; end drug prohibitions; government out of all sexual choices; religious freedom; intellectual freedom.

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Peter Boettke

@PeterBoettke

5 months

As Hans Rosling points out in his widely watched BBC video the path to progress is moving from poor and sick to healthy and wealthy over time. Socialism in practice produced the opposite. To read about the Estonian case see my new book with @Matt_d_Mitchell and @konstant_zhukov

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Peter Boettke

@PeterBoettke

3 years

Required reading to start your 2021 journey to advanced understanding of the economy. What if our Swedish steeping stones began with Lindahl and we did not fall under the spell of Keynes?

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Peter Boettke

@PeterBoettke

4 months

Wisdom from Adam Smith that all the politicians and regulators should take to heart. Government failure is real, and next to impossible to correct given the incentives and information issues associated with the public sector. Ignorance accentuated by arrogance.

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Peter Boettke

@PeterBoettke

9 months

Sunday morning, enjoying Jennifer Burns’s outstanding book, and my new status in my family thanks to Stephen, Liz and Jack (born 8/2/23)

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Peter Boettke

@PeterBoettke

4 months

Most important words to utter as a scholar/scientist — ‘I don’t know.’ Second most important set of words — ‘But, I can and try to figure it out.’ The pleasure of figuring things out is science/scholarship.

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Peter Boettke

@PeterBoettke

2 years

Recommended readings for the current moment.

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Peter Boettke

@PeterBoettke

6 years

Amazing, and interesting stat — of all PhD students in econ, roughly 2/3rds are being supervised by faculty who are graduates of MIT, Harvard, Chicago, Stanford, Princeton, Northwestern. “Doctoral Origins of Economics Faculty”. HES2018

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Peter Boettke

@PeterBoettke

8 months

One thing you learn quickly in the archives in doing intellectual history is how deeply personal science/scholarship is. And how rivalrous and often quite harsh the reality is for elite participants. Buchanan, for example, faced not only resistance to his ideas but active

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Peter Boettke

@PeterBoettke

6 years

Twitter world — look carefully — this is Hayek on what must scholars and intellectuals do post WWII. Pursuit of truth in social science, research that is historical accurate, affirmation of democracy, and opposition to both left and right forms of totalitarianism.

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Peter Boettke

@PeterBoettke

4 months

My first book — The Political Economy of Soviet Socialism — explores Lenin’s writings in depth. If anyone would like a copy (pdf) please email me at my university email and I will send you a copy. Ideas do indeed have consequences!

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Peter Boettke

@PeterBoettke

2 years

Happy Birthday to the greatest Austrian economist in the world … The History and Importance of the Austrian Theory of the Market Process | Israel M. Kirzner | Mercatus Center: F. A. Hayek Program

The History and Importance of the Austrian Theory of the Market Process | Israel M. Kirzner

Mercatus Center Academic & Student Programs recently hosted the 2016 Advanced Austrian Seminar at which Dr. Israel M. Kirzner, Professor Emeritus of Economics at New York University, delivered the...

www.mercatus.org

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Peter Boettke

@PeterBoettke

2 years

Can we talk about this?

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Peter Boettke

@PeterBoettke

4 months

Every economic student and their teachers should read this …Are Markets Imperfect? Of Course, But That’s The Point! - Econlib

Are Markets Imperfect? Of Course, But That’s The Point! - Econlib

In her fantastic book, The World in a Model, Mary Morgan provides an intellectual history of how economists have evolved in their construction of models as a device to think about how markets work....

www.econlib.org

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Peter Boettke

@PeterBoettke

2 years

@IsabellaMWeber Isabella -- at the risk of being viewed as a buzz kill, you do know that this quote is taken completely out of context and that Mises -- a jew himself -- was chased out of Europe by the fascists and wrote a book condemning fascism. Just saying ...

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Peter Boettke

@PeterBoettke

3 years

Steve Horwitz understood that we are TEACHER/scholars as academics. He was always trying to teach his students and the public, and to do that he was always LEARNING. Let's listen and discuss ...

No Wobbling! An AMA with Steve Horwitz

Econlib's Amy Willis poses readers' questions about teaching economics in our current crisis environment.

www.youtube.com

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Peter Boettke

@PeterBoettke

3 months

Not to be too ‘braggy’ but both Alex and Bryan were trained in the lessons of price theory at GMU. They are right price theory needs a revival. At GMU students for generations learned price theory from Walter Williams, and that tradition continues with Chris Coyne and Rosolino

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Peter Boettke

@PeterBoettke

2 years

Current reading includes …

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Peter Boettke

@PeterBoettke

1 year

I returned to GCC to give the Mises Lecture … I owe so much to my time at GCC and the education I received there. And it is so exciting for me to see the economic education at GCC has not only maintained but nurtured and continually developed and extended the Misesian tradition.

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Peter Boettke

@PeterBoettke

2 years

Just a thought, when price controls are invoked as tool to fight inflation, it might be wise to look up the concept of ‘repressed inflation’ and its consequences in the former socialist economies. The past does have a useful economics.

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Peter Boettke

@PeterBoettke

1 year

Why do people keep getting this so wrong? It must please them to believe what they are saying. Anyway, besides reading Caldwell's various clarifying efforts, you might find my book on Hayek in "Great Thinkers" series of value ...

F. A. Hayek

link.springer.com

Current Affairs

@curaffairs

1 year

Friedrich Hayek's predictions that welfare state policies would lead to totalitarian dystopia simply didn't come true.

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Peter Boettke

@PeterBoettke

1 year

“His is a story of scientific glory and personal courage in a very dark time in human history.”

Ludwig von Mises, the Academic

It is time for everyone to celebrate the true Mises – the man of great scientific accomplishment and acclaim, a man whose contributions were recognized by friend and foe alike, who had to show great...

fee.org

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Peter Boettke

@PeterBoettke

1 year

For those on the left, don't you think it might be better to focus your criticisms on Nozick, Kukathas, Schmidtz, Gaus, Barnett, let alone the work on polycentric orders by Vincent and Lin Ostrom, Bruno Frey, etc. Rather than fringe characters???

Rune Møller Stahl

@RuneStahl

1 year

I've just finished Crack-up Capitalism for a review, and I must say that @zeithistoriker has really gathered an exquisite selection of cranks and weirdoes in this book

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Peter Boettke

@PeterBoettke

4 years

Recommended Sunday reading. Calm dispassionate discussion of the contending perspectives and ways to adjudicate between them. ⁦ @DianeCoyle1859 ⁩ excellent contribution to economic education and public discourse.

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Peter Boettke

@PeterBoettke

2 months

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Peter Boettke

@PeterBoettke

2 years

Nobel ‘predictions’ or ‘wish list’ : (1) Kirzner, McCloskey, Moykr; (2) Kirzner and Aghion; (3) Zelizer, Granovetter and Loury; (4) Shleifer.

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Peter Boettke

@PeterBoettke

1 year

When I think libertarian this is what I am thinking

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Peter Boettke

@PeterBoettke

3 years

Walter Williams, who died Tuesday at 84, was one of America’s most courageous defenders of free markets, writes Donald J. Boudreaux via @WSJ

Opinion | Walter Williams, R.I.P.

His research was rigorous, and he was one of the few economists who know how to engage with the public.

www.wsj.com

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Peter Boettke

@PeterBoettke

4 months

Let’s walk thru this. Spontaneous order theorizing does not say sh** happens, it postulates instead an animating actor (the individual) + a filtering process (institutions) that produce a patterned outcome (either socially desirable or not), depending on the sort of filtering

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Peter Boettke

@PeterBoettke

11 months

Wisdom from my brilliant colleague Paul Dragos Aligica … let’s strive to do better on the intellectual engagement pyramid.

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Peter Boettke

@PeterBoettke

3 months

Feb 13th was Israel Kirzner’s 94th birthday. Kirzner is a profound scholar, a teacher of impact, and a man of deep faith and conviction. Working with him at NYU was a great honor. See his Collected Works of Israel M. Kirzner Archives - Liberty Fund

The Collected Works of Israel M. Kirzner Archives - Liberty Fund

www.libertyfund.org

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Peter Boettke

@PeterBoettke

2 years

Lets try this again, free minds, open borders, ain’t nobody’s business, anti interventionist in foreign and domestic affairs, end the war on drugs, free trade, sound money, fiscal responsibility, protection of persons and property —> cosmopolitan liberalism.

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Peter Boettke

@PeterBoettke

8 months

We celebrated Mises’s birthday a day earlier after a great PPE Workshop discussing Dr Malia Dalesandry’s bold and courageous research. Anyway Happy Birthday Prof Mises (Sept 29, 1881), your numerous contributions still inspire a new generation of scholars/teachers. @ccoyne1

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Peter Boettke

@PeterBoettke

3 months

James Buchanan in his ‘Notes on Hayek’ RAE (2015) argued basically why there may be macroeconomic phenomena there is only microeconomic (i.e., price theoretic) explanations.

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Peter Boettke

@PeterBoettke

11 months

Jim Buchanan warned that we must avoid two polar positions if we want to make progress in science: (a) conformity for conformity sake, and (b) the arrogance of the eccentric. Instead, we must while daring to be different constantly engage the best in the profession. I think a

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Peter Boettke

@PeterBoettke

4 years

Some, perhaps, very important and relevant passages from Hayek.

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Peter Boettke

@PeterBoettke

3 years

150 Years of the Austrian School of Economics - Econlib

Carl Menger Is 1871 the most important year in the history of social science? I think so. That year, Austrian financial journalist Carl Menger published his Grundsätze der Volkswirtschaftslehre—or...

www.econlib.org

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Peter Boettke

@PeterBoettke

2 years

Sept 29th and PPE Workshop on The Socialist Calculation Debate: Theory, History, and Contemporary Relevance + Birthday celebration for the man who started it all.

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Peter Boettke

@PeterBoettke

11 months

I recently had occasion to flip through this 2020 collection of mine, and so grateful AIER provided this opportunity for me. And more to the point so very grateful Hans Sennholz introduced me to the wonderful world of economic ideas. The book is available via Amazon for $5 as

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Peter Boettke

@PeterBoettke

1 year

For the 15th million time— property provides the foundation within which relative prices emerge through exchange behavior and those prices in turn provide the guiding knowledge that economic actors require to orient their behavior in the structure of social cooperation. Prices,

Peter G. Klein

@petergklein

1 year

Continuing this fascinating discussion: I agree that the key issue is generation or creation rather than processing data already given. But in Mises's account, the thing that only a competitive market system generates isn't knowledge, but *prices.* 1/

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