• Praxeology and Time

    Praxeology and Time

    The concept of change is inextricably linked to the concept of temporal sequence. It would be out of time, but a rigid, forever immovable cosmos would be dead. The notions of change and time are inextricably intertwined. Action is in the temporal order since it attempts to bring about change. Human reason is also incapable of comprehending the concepts of eternal existence and eternal activity.
  • Ludwig von Mises on the Velocity of Circulation

    Ludwig von Mises on the Velocity of Circulation

    [Editor’s note: this essay was found among Bettina Bien Greaves’s files. A note in her handwriting indicates that it was written in 1944 and that Mises used it in his 1959 seminar. In this short essay, Mises in his characteristically lucid and forceful manner goes over the basics of monetary theory and shows why the …
  • The Basic Truths of Saysian Economics

    The Basic Truths of Saysian Economics

    Jean-Baptiste Say was a principled defender of the constitutionally limited state, even more consistently so than many of his classically liberal contemporaries. Having studied quite a lot of political economy over the past four decades, and critically, I must say that I consider A Treatise on Political Economy (1803)1 by Jean-Baptiste Say (1767-1832)2 to be …