Mises Archives - Eco-Binge

Balancing Liberty and Responsibility: A Pragmatic Approach for Societal Progress

by Yash DubeyDecember 26, 2023December 26, 20230

Balancing liberty with responsibility is key to societal progress. Individual freedom fuels innovation and prosperity, but without accountability, liberty becomes unstable. True liberty protects everyone’s rights, not just majorities. Market mechanisms incentivize responsibility and outperform collective planning. While democracy safeguards political freedom, consumer sovereignty in markets drives economic progress. Let’s unleash human potential through responsible liberty.

Karl Marx is not an Economist

by Yash DubeyMarch 5, 2023March 5, 20230

Karl Marx is primarily known for his contributions to sociology and philosophy rather than economics, and his ideas have limited relevance in modern economics.

Hoppe’s Hopeless Take On Knowledge Problem

by Yash DubeyFebruary 21, 2023February 24, 20231

Hans Herman Hoppe is a renowned Austrian economist. Despite being from the same school of thought, he has been a regular critic of Hayek. Hayek’s probable most important discovery is the “knowledge problem” which says a single person cannot have all knowledge to make decisions as knowledge is dispersed and decentralized. Being on Mises’s side in the Socialist Calculation Debate, Misesians don’t favor Hayek’s argument and see it as not important for the debate.

Embracing Puzzlers: The Ignored Innovative Minds
By Yash Dubey
March 9, 2024
In India, education plays a vital role in societal and economic advancement, yet it neglects 'puzzlers' - innovative minds divergent from traditional mastery. Entrance exams emphasize rote memorization, ignoring critical thinking. This oversight limits potential Nobel laureates and stifles academic innovation. Reforms must prioritize embracing diverse intellectual approaches to unlock India's full academic potential and foster meaningful progress across various fields. […]
A Message to Modern Economics Academia Based on the Hayekian Line
By Yash Dubey
February 2, 2024
In a Hayekian critique, modern economics academia is urged to reconsider its reliance on mathematical models and econometrics. Hayek's emphasis on the complexity of economic phenomena and the limitations of predictive techniques challenges traditional approaches. A more humble and interdisciplinary approach is advocated for a deeper understanding of real-world economics. […]
Balancing Liberty and Responsibility: A Pragmatic Approach for Societal Progress
By Yash Dubey
December 26, 2023
Balancing liberty with responsibility is key to societal progress. Individual freedom fuels innovation and prosperity, but without accountability, liberty becomes unstable. True liberty protects everyone's rights, not just majorities. Market mechanisms incentivize responsibility and outperform collective planning. While democracy safeguards political freedom, consumer sovereignty in markets drives economic progress. Let's unleash human potential through responsible liberty. […]
Bitcoin in the Market: In Search of Stable Money
By Yash Dubey
November 24, 2023
Delving into the history of money, this article traces its evolution and critiques Bitcoin's shift from a medium of exchange to an investment tool. It compares Bitcoin with gold and fiat, emphasizes the role of stable monetary policies, and advocates for ongoing innovation in the dynamic landscape of currencies. […]
Efficiency of the Market and Imperfect People
By Yash Dubey
October 16, 2023
Discover the real market – where people learn, adapt, and innovate. Contrasting textbook economics, this article delves into the dynamic world of entrepreneurship and human evolution in commerce. […]