Carl Menger and the Sesquicentennial Founding of the Austrian School

There are few works in the history of economics that may be truly considered “revolutionary” and “pathbreaking,” in their starting premises, logic, and implications. But one that is in this category is Carl Menger’s Grundsätze der Volkswirtschaftsliche, his Principles of Economics in its English translation. This year marks the 150th anniversary of its publication in 1871. Menger’s work is often classified as one of the first formulations of the theory of marginal utility, along with the works of British economist William Stanley Jevons (1835–82) and the Frenchman Leon Walras (1834–1910),…

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Politics Won’t Fix the American Decline

By any measure, 2020 was not a very good year for human freedom. By now everyone is very familiar with the assaults on liberty stemming from measures ostensibly in the name of stopping the spread of covid and the way in which such measures have threatened the very existence of the social order. Beyond such obscene and unprecedented measures, 2020 also demonstrated that the leaders of our society are truly incompetent and bungling. The ineptitude is truly staggering, even for skeptics of the state. When surveying the wreckage of last…

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California Is Worse Than You Think

If California voters and politicians do not understand the current crisis, we will see the continuous march to perdition as California politicians refuse to acknowledge that they are killing the geese laying the golden eggs. Original Article: “California Is Worse Than You Think​” This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.   Source link

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The Upside of Lockdowns: More Saving

Something good is coming out of the covid lockdowns. Economist David Rosenberg released a special report via the eponymous Rosenberg Research, concluding “the pre-COVID-19 ‘norm’ of a 7% personal savings rate will morph into a post-COVID-19 norm of 10%.” Rosenberg makes frequent TV appearances after he was chief North American economist at Merrill Lynch in New York from 2002 to 2009, when he was consistently included in the Institutional Investor All-Star analyst rankings. From there he spent ten years as chief economist and strategist at Gluskin Sheff. Rosenberg doesn’t portray his prediction of…

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Delta Air Lines (DAL) results Q4 2020

A Delta Air Lines plane lands at Los Angeles International Airport Mario Tama | Getty Images Delta Air Lines halved its cash burn and narrowed its losses in the fourth quarter as the coronavirus pandemic drove the carrier to its worst year ever, the company said Thursday. The Atlanta-based airline posted a net loss of nearly $12.39 billion in 2020, a record, according to FactSet data. Here’s how Delta performed compared with what Wall Street expected, based on average estimates compiled by Refinitiv: Adjusted EPS: a loss of $2.53 versus…

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Trip.com is ‘more confident than ever’ in China’s travel recovery

SINGAPORE — Online travel agency Trip.com is “more confident than ever” that China’s domestic tourism will recover in the long run, chief executive Jane Sun said on Thursday. That’s despite fresh lockdowns in the country as new coronavirus cases emerge. “In the long run, we are very optimistic about the recovery,” Sun told CNBC’s “Squawk Box Asia.” Trip.com is one of China’s largest online travel sites. She said China saw “very strong recovery” during the country’s last holiday season in October and that it’s taking steps to administer vaccines in…

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