Kurt R. Leube

  All the new criticisms of capitalism are old ones repackaged as stunning new insights. Robert Hessen   Take Away Alongside Leonard P. Liggio, Murray M. Rothbard and Isreal M. Kirzner, Robert (Bob) Hessen belonged to the 5th generation of the Austrian School of Economics, which was mainly active in the USA. After receiving his […]

  The illusion that we understand the past fosters overconfidence in our ability to predict the future.   Daniel Kahneman Daniel Kahneman was best known for his work on hedonistic psychology, the psychology of economic decision-making and also for debunking the notion of homo economicus or the economic man. Together with Vernon L. Smith (a […]

  Democracy has not proved to be a certain protection against tyranny and oppression, as once it was hoped. Nevertheless, as a convention which enables any majority to rid itself of a government it does not like, democracy is an inestimable value.   Friedrich A. von Hayek (1899-1992)   TAKE AWAY Nach F.A. von Hayek […]

  True education is not about filling the mind with knowledge, but about training it to think. Wilhelm von Humboldt (1767-1835)     TAKE AWAY Though participating 15 year old students must be able to apply their accumulated knowledge to solve problems, the kind of input/output methods used in the PISA Study always have been […]

The subtitle of this essay has been borrowed from Terry L. Anderson’s conference on ‘Markets vs. Mandates. Promoting Environmental Quality and Economic Prosperity’, Hoover Institution, Stanford University, Jan. 30, 2023. Permission granted. Take Away The scarcity of means to satisfy given ends is an omnipresent condition of life and all conscious human actions profoundly affect […]