Professor of economics, former president of the Foundation for Economic Education

Reference

Richard Ebeling - Wikipedia, the free encyclopedia
"Richard M. Ebeling (born ... 1950) is an American libertarian author, and was president of the Foundation for Economic Education (FEE) from 2003 to 2008. He has written and edited numerous books, including the three-volume Selected Writings of Ludwig von Mises (Liberty Fund). ...."

Images

TheAdvocates.org - Richard M. Ebeling
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Born

1950, in New York City

Associations

President, 2003-2008, Foundation for Economic Education
Founder; Vice President of Academic Affairs, 1989-2003, The Future of Freedom Foundation
Ludwig von Mises Professor of Economics, Hillsdale College

Web Pages

Advocates for Self-Government - Libertarian Education: Richard M. Ebeling - Libertarian
Biography, photo and quotes
"In the libertarian movement, Richard M. Ebeling has earned a laudable reputation as a professor, writer, and editor. But what may turn out to be his most memorable contribution to the history of libertarian thought is an event that, were it a movie, might be called Indiana Jones Meets Ludwig von Mises. It's a bit of intellectual archeology that involves Nazis, the Soviet Army, and documents buried in a secret Moscow archive for five decades."

Writings

An American Empire! If You Want It instead of Freedom, Part 1, Future of Freedom, Apr 2003
Examines Garet Garrett's still relevant essay "The Rise of Empire" and the concept of "unilateralism" espoused by Charles Krauthammer
"Garrett summarized what he considered the requisite signs of the emerging American Empire. First, the executive power of the government becomes increasingly dominant ... domestic-policy issues become increasingly subordinate to foreig-policy matters ... Empire threatens to result in the ascendancy of the military mind over the civilian mind ... creates a system of satellite nations ... brings with it both arrogance and fear among the imperial people ... creates the illusion that a nation is a prisoner of history."
Related Topics: Garet Garrett, Imperialism
Aristotle Understood the Importance of Property, 27 Sep 2016
Discusses Aristotle's views on private property and property rights (contrasting them with those of Plato), the "ends" of human life, economics ("household management"), wealth acquisition, prices, money and related topics
"When we turn to another famous ancient Greek philosopher, Aristotle (384 B.C. – 322 B.C.), we find little of the political regimentation that characterizes his teacher, Plato. ... While Aristotle's answers were incomplete and often misdirected, as well as incorrect, he at least was among the first to ask the types of questions that, centuries later, became part of the heart of economic analysis and understanding."
Book Review: Forgotten Lessons, Future of Freedom, Mar 1996
Review of Forgotten Lessons: Selected Essays of John T. Flynn by edited by Gregory P. Pavlik, 1995
"One of those few who never became one of FDR's global New Dealers was John T. Flynn. ... Now, thanks to Gregory Pavlik of The Foundation for Economic Education, readers have an opportunity to rediscover John T. Flynn and his anti-New Deal, anti-big government insights. Mr. Pavlik has edited Forgotten Lessons, a collection of some of Flynn's best essays that were written in the 1930s, 1940s, and 1950s on a variety of both domestic and foreign policy topics."
Related Topic: John T. Flynn
Book Review: Hayek, Future of Freedom, Jul 1999
Review of Hayek: A Commemorative Album compiled by John Raybould, 1999
"He soon became embroiled in a heated debate with Keynes, in which Keynes argued for monetary and fiscal 'stimulus' to end the depression, instead of Hayek's free-market solution. ... At the same time, Hayek began amplifying Mises's criticisms of socialism, explaining that a developed system of division of labor is just too complex to be controlled and directed through any form of central planning. ... This argument culminated in Hayek's most influential book, The Road to Serfdom, published in 1944 ..."
Related Topic: Friedrich A. Hayek
Book Review: J. B. Say, Future of Freedom, May 1998
Review of J.B. Say: An Economist in Troubled Times, writings selected and translated by R.R. Palmer, 1997
" ... the main focus of his writings was to emphasize the importance of sound economic principles for understanding why the market should be freed from government control. He strongly believed that freeing the market was the best avenue for reducing poverty, eliminating the artificial inequalities in income created by state regulation ..."
Related Topic: Jean-Baptiste Say
Book Review: Out of Work, Future of Freedom, Oct 1993
Review of Out of Work: Unemployment and Government in Twentieth-Century America by Richard K. Vedder and Lowell E. Gallaway, 1993
"Richard K. Vedder and Lowell E. Gallaway ... argue ... that real wages—the real cost of hiring workers after adjusting for changes in productivity and in the selling prices of goods in relation to the money wages paid to workers—had actually increased during the early years of the Great Depression, making it increasingly costly for employers to keep workers on the job."
Related Topic: Unemployment
Book Review: Problemas Economicos de Mexico, Future of Freedom, Jan 1999
Review of Problemas Economicos de Mexico by Ludwig von Mises, 1998
"While generally critical of government-sponsored and government-supported cooperative movements, Mises argued that full land privatization in Mexico should be supported for the poor peasantry through government assistance in forming farm-producer cooperatives and even limited, but temporary, state subsidies to help them get started."
Related Topics: Mexico, Ludwig von Mises
Book Review: Red Flag Over Hong Kong, Future of Freedom, Jan 1997
Revew of Red Flag Over Hong Kong by Bruce Bueno de Mesquita, David Newman, and Alvin Rabushka, 1996, which discusses the then potential effects of the handover of Hong Kong to China
"What has made Hong Kong the free and prosperous place that it is, the authors argue, has been individual rights; rule of law; private property; a very free market in all production, commerce and trade; low and nondiscriminatory taxes; and a high degree of confidence that freedom and free enterprise would be protected and respected. This has been in stark contrast to China's history and present practices."
Related Topics: China, Hong Kong
Book Review: Say's Law and the Keynesian Revolution, Future of Freedom, Feb 1999
Review of Say's Law and the Keynesian Revolution: How Macroeconomic Theory Lost Its Way by Steven Kates, 1998
"Beginning with Jean-Baptiste Say ... the law of markets was stated in the following way: Ultimately it is always goods that are traded for goods. ... In the more complex market economy ... the fundamental 'law of markets' still holds true: each participant in the market must first supply some good to earn the money that enables him to demand other goods."
Related Topic: Jean-Baptiste Say
Book Review: The Future and Its Enemies, Future of Freedom, May 1999
Review of The Future and Its Enemies by Virginia Postrel, 1998
"Though she does not say so in so many words, her goal clearly is to take Hayek's defense of a free social order without central government design and show how the spontaneous order of society has improved the human condition and how it can be hindered only by those who desire to consciously direct the evolution of technology, innovation, and discovery."
Book Review: The Quest for Cosmic Justice, Future of Freedom, Dec 1999
Review of The Quest for Cosmic Justice by Thomas Sowell, 1999
"... as Sowell cogently explains, there are no 'objectively' correct answers as to what individuals within these collective groupings should receive as their just due. The types of knowledge that would be needed to do so and the interpretive capacity to evaluate the relative merits of the factors that should be weighed for making a 'just' determination are beyond human ability. Only a cosmic or godlike perspective could claim to know what each of us 'deserves.'"
Related Topic: Thomas Sowell
Civil Liberty and the State: The Writ of Habeas Corpus, Future of Freedom, Apr 2002
Highlights of English and American history on the writ of habeas corpus, in particular the 17th century conflict between Charles I and Edward Coke
"Men have risked their lives and fortunes to oppose arrogant political power. When they have done so, they have served as examples and set legal precedents that then secured areas of protected liberty for their contemporaries and for future generations. A shining example of this is the writ of habeas corpus. Habeas corpus means, literally, 'You are to have the body,' i.e., 'You are to bring the body, the prisoner himself, before us,' so that a court of law may be informed as to why a man has been imprisoned."
Eugen von Böhm-Bawerk: A Sesquicentennial Appreciation, The Freeman, Feb 2001
Broad biographical essay, including Böhm-Bawerk relationships with Menger, von Mises and Schumpeter, and his two major works
"Eugen von Böhm-Bawerk was born on February 12, 1851 in Brno, capital of the Austrian province of Moravia (now the eastern portion of the Czech Republic). He died on August 27, 1914, at the age of 63, just as the First World War was beginning. ... The scientific contributions to which both Mises and Schumpeter referred were Böhm-Bawerk’s writings on what has become known as the Austrian theory of capital and interest, and his equally insightful formulation of the Austrian theory of value and price."
Related Topic: Eugen von Böhm-Bawerk
Freedom, Security, and the Roots of Terrorism against the United States, Future of Freedom, Oct 2001
Reflections on the 11 September attacks a few weeks after, discusses the reasons for the terrorist attacks and proposes certain measures to deal with the situation
"... few Americans seem willing to ask the deeper and more fundamental question of why it is that America is the constant target for terrorist attacks around the world and now at home. ... The fact is that America has aroused the anger of these terrorists and others like them who are waiting in the wings because of American political and military intervention around the world. ... Every foreign intervention undertaken by the U.S. government, therefore, produces a potential underground army of terrorists who now believe that winning their domestic battles requires defeating the foreign interventionist power."
Henry Hazlitt: An Appreciation, by Roy A. Childs, Jr., Richard M. Ebeling, Nov 1985
Tribute to Hazlitt on his 91st birthday, reviews his career and works
"The hallmark of everything that has flowed from his pen has been clear thinking, rigorous logic, and an unflinching defense of the free society. His classic work, Economics in One Lesson (1946) has influenced three generations of both economists and the general public."
Related Topic: Henry Hazlitt
How I Became a Libertarian and an Austrian Economist, 2 May 2016
Autobiographical essay highlighting the people and events who influenced him in his path to libertarianism and Austrian economics
"I suppose I can date my interest in both libertarianism and Austrian Economics from the day I was born. The doctor grabbed me by my little feet, turned me upside down and spanked my tiny bottom. I began to cry out. ... I appreciated that what the doctor had done was in violation of the 'non-aggression' principle. The rest is history. Well . . . maybe not quite. ... But [Murray Rothbard] was the radical libertarian – 'Mr. Libertarian' as some came to call him – the master system-builder of a 'science of liberty' based on the 'natural rights' of individuals to freedom on Aristotelian philosophical foundations. "
Individual Liberty and Civil Society, Feb 1993
Reflects on Benjamin Constant's lecture on what liberty meant to the ancient Greeks vs. the 19th century Europeans and Americans and the 20th century reversion to statism
"Our 'liberty' in the political order is to choose between political leaders with the same philosophical perspective. Once that has been done, we revert to being subjects dependent upon the increasing discretion of those we have placed in office and those who have the greatest special-interest influence in effecting the directions of state policy. ... we are continuing our journey back to the political world of three thousand years ago. We continue to trade away the modem ideal of individual liberty for the ancient ideal of collective tyranny."
Israel M. Kirzner and the Austrian Theory of Competition and Entrepreneurship, Future of Freedom, Aug 2001
Begins with biographical summary and then focuses on Kirzner's understanding of entrepreneurs in the market "process" and the detrimental effects of government intervention in the market
"Besides Kirzner's influence through the originality and persuasiveness of his writings, in 1976 he founded an Austrian economics graduate study program at New York University that has helped to successfully train a new generation of Austrian economists. ... And for more than 25 years, the weekly Austrian economics colloquium at NYU, under Kirzner’s general supervision, has been an important focal point for Austrian-oriented economists in the greater New York area."
Related Topic: Israel M. Kirzner
John Stuart Mill and the Three Dangers to Liberty, Future of Freedom, Jun 2001
Evaluates John Stuart Mills arguments in his essay "On Liberty", in particular the three forms of tyranny posited by Mill and an element (private property) not emphasized by his analysis
"... it would be an unjustifiable violation of another's personal freedom to coercively attempt to prevent him from ingesting some substance that he — however wrong-headedly from the critic's perspective — finds desirable, useful, or pleasurable. But Mill, unfortunately, conceded to the government as necessary responsibilities far more powers of intervention into social and economic affairs than most modern classical liberals and libertarians consider justifiable."
Related Topic: John Stuart Mill
Ludwig von Mises: An Economist for Freedom and Free Enterprise, 29 Sep 2016
Discusses three major themes in the works of Mises, namely, business cycle theory, his critique of socialism and the unfettered market economy; includes list of suggested additional readings
"Over the middle decades of the twentieth century, Mises made a number of profoundly important contributions that challenged many of the fashionable and influential collectivist and socialist ideas of his time, and which still echo in the twenty-first century. ... The author of over 20 books and hundreds of scholarly and popular articles, Mises influenced several generations of economists, sociologists, historians, and other social philosophers over his professional career, and his books and articles continue to be a major intellectual force, still regularly read by thousands every year."
Milton Friedman (1912-2006), by Richard M. Ebeling, Sheldon Richman, 17 Nov 2006
Memorial tribute, highlighting Friedman's role in opposing Keynesianism, and his books and other public activities
"At a time when popular writing that went against the collectivist grain had few mass outlets, Friedman managed to reach a wide audience with his clear and good natured-style. He accomplished this through many books, a long-running Newsweek column, and his 1980 television series, 'Free to Choose,' based on his bestselling book of the same title. "
Related Topic: Milton Friedman
Monetary Central Planning and the State, Part 18: Say's Law of Markets and Keynesian Economics, Future of Freedom, Jun 1998
Explains the basics of exchange and markets, then discussing Say's Law and John Stuart Mills refinement
"The cobbler makes shoes and sells them ... The cobbler then uses the money he has earned ... to buy the food he wants to eat. ... his supply of shoes has been the means for him to demand a certain amount of food. This, in essence, is the meaning of Say's Law, named after the 19th-century French economist Jean-Baptiste Say. Say called it 'the law of markets.' Unless we first produce, we cannot consume; unless we first supply, we cannot demand."
Related Topic: Jean-Baptiste Say
Monetary Central Planning and the State, Part 24: Milton Friedman's Framework for Economic Stability, Future of Freedom, Dec 1998
Describes Friedman's criticisms of Keynesian policies and examines Friedman's own proposals for government intervention in the economy
"In the post-World War II period in the United States, there have been few voices as important for the defense of the free market as that of Milton Friedman. In his 1962 book Capitalism and Freedom, he forcefully challenged the trend towards increasing government control over economic life. ... Whether it was his intention or not, Friedman's proposed 'monetary and fiscal framework for economic stability' legitimated the Keynesian arguments for government intervention in the market economy."
Related Topic: Milton Friedman
Monetary Central Planning and the State, Part 25: Milton Friedman and the Demand for Money, Future of Freedom, Jan 1999
Examines the role of money according to Keynesians and then contrasts it with Friedman's monetary theories
"The most thoroughgoing criticism of this Keynesian conception in the decade after the Second World War was made by Milton Friedman. In 1956, Friedman edited a collection of essays entitled Studies in the Quantity Theory of Money, for which he wrote the introductory essay, entitled 'The Quantity Theory of Money – A Restatement.'"
Related Topic: Milton Friedman
Monetary Central Planning and the State, Part 26: Milton Friedman and the Monetary "Rule" for Economic Stability, Future of Freedom, Feb 1999
Examines Friedman's arguments in a 1967 AEA speech and his defense of a paper money standard in the 1960 book A Program for Monetary Stability
"Friedman emphasized what he believed an active monetary policy could not succeed in permanently doing. First, monetary policy could not permanently lower interest rates below the level that the market forces of supply and demand would tend to establish. ... Second, ... monetary policy could not permanently push unemployment below a market-determined 'natural rate.'"
Related Topic: Milton Friedman
Monetary Central Planning and the State, Part 27: Milton Friedman's Second Thoughts on the Costs of Paper Money, Future of Freedom, Mar 1999
Discusses how Friedman changed his mind about the advisability of a paper money standard
"The costs of a paper money standard to the society as a whole, Friedman argued, arose precisely from the uncertainty of future monetary policy under government monetary discretion and the inflationary bias that always tended to persist under government control of paper money. During inflationary times, people often tied up real resources that otherwise could have been applied for productive activities in the accumulation of gold and silver hoards as a hedge against rising prices."
Related Topic: Milton Friedman
Monetary Central Planning and the State, Part 29: The Gold Standard in the 19th Century, Future of Freedom, May 1999
Discusses the evolution of the gold standard, from the creation of the Bank of England (1694), the Bank Restriction Act (1797), arguments for its repeal by David Ricardo and John Stuart Mill, and its international development until the 1890s
"By the fact that such a large number of countries had each linked their respective currencies to gold at some fixed rate of redemption in this manner, there emerged an international gold standard. A person in any one of those countries could enter any number of established, authorized banks and trade in a certain quantity of bank notes for a stipulated sum of gold, in the form of either coin or bullion. ... There was only one fundamental problem and inconsistency ... The gold standard, after all, was a government-managed monetary system."
Related Topic: Gold Standard
Monetary Central Planning and the State, Part 30: The Gold Standard as Government-Managed Money, Future of Freedom, Jun 1999
Describes how, by allowing central banks to manage gold-backed currencies, the road was paved for central planning in other areas
"While the goals for monetary policy may have been considered modest and limited in the eyes of the classical liberals of the 19th century, it remained a fact that the monetary system was a subject for national government policy. ... And as such, even most of the advocates of economic liberty argued for monetary socialism and monetary central planning. They failed to call for and defend the privatization of the most important commodity in a market economy – the medium of exchange."
Related Topic: Money
Monetary Central Planning and the State, Part 31: Ludwig von Mises on the Case for Gold and a Free Banking System, Future of Freedom, Jun 1999
Examines Mises' thinking on the gold standard (why it is needed and that it not be subject to political manipulation), free banking and what is needed for it to succeed
"How a free banking system would create incentives on the part of those owning and managing unregulated private banks to restrain their issuance of what Mises called 'fiduciary media' (bank notes and bank deposit accounts not 100 percent fully covered by gold and other specie reserves in their banks) was concisely explained by him in Monetary Stabilization and Cyclical Policy ..."
Related Topics: Banking, Ludwig von Mises
Monetary Central Planning and the State, Part 32: Friedrich A. Hayek and the Case for the Denationalization of Money, Future of Freedom, Aug 1999
Shows the progression of Hayek's thinking on money from 1945 when he was agreeable to central monetary control to 1976 when he advocated a system of private competing currencies
"The consequence was the constant abuse of the printing press and a resulting price inflation to feed the seemingly insatiable demands of privileged and politically influential groups. Hayek now concluded that some method had to be found to free the ordinary citizen from the government's monopoly control of the medium of exchange. The answer, he suggested, was allowing individuals the freedom to use whatever money they chose ..."
Related Topics: Friedrich A. Hayek, Money
Monetary Central Planning and the State, Part 33: Murray N. Rothbard and the Case for a 100 Percent Gold Dollar, Future of Freedom, Sep 1999
Examines the arguments made by Rothbard in his 1962 essay "The Case for a 100 Percent Gold Dollar"
"... these emerging bankers soon came to realize that they could extend additional loans to borrowers in the form of 'notes' that looked exactly like the warehouse receipts issued to their gold and silver depositors. ... This, Rothbard argued, was the beginning of 'fractional-reserve banking.' ... that also meant that the total face value of notes and receipts in circulation now exceeded by some multiple the amount of gold and silver against which they represented a claim."
Related Topics: Banking, Murray N. Rothbard
Up From Freedom: Friedrich von Hayek and the Defence of Liberty, ama-gi, 1996
Opens with biographical details and then discusses Hayek's insights
"Hayek's particular and profound contribution to the debate over the feasibility of socialism was the following argument: that the more complex a society, the more difficult it becomes for a central planner to possess the required knowledge to co-ordinate all the economic activity of that society. In a system of division of labour, human knowledge is also divided. Each member of society possesses a small fraction of all the world's knowledge."

Books Authored

Human Action: A 50-Year Tribute
    by Richard M. Ebeling (Editor), 2000
Volume 27 of Champions of Freedom: The Ludwig von Mises Lecture Series; contributors include Gene Epstein, Sanford Ikeda, Israel Kirzner, Robert Poole, Roberto Salinas-León, Charles Murray, Hans Sennholz, Karen Vaughn, Gleaves Whitney and Leland B. Yeager
Related Topic: Ludwig von Mises
Selected Writings of Ludwig Von Mises: Volume 2, Between the Two World Wars: Monetary Disorder, Interventionism, Socialism, and the Great Depression
    by Richard M. Ebeling (Editor), Ludwig von Mises, 2002
Partial contents: The Quantity Theory - On the Currency Question - Remarks Concerning the Establishment of a Ukrainian Note-Issuing Bank - Foreign-Exchange Control Must Be Abolished - Direct Taxation in City and Country
Related Topic: Money
The Case for Free Trade and Open Immigration
    by Richard M. Ebeling (Editor), Jacob G. Hornberger (Editor), The Future of Freedom Foundation, 1995
Collection of essays by Ebeling, Hornberger, Samuel Bostaph, Jim Bovard, W.M. Curtiss, Bettina Bien Greaves, William M. Law, Ludwig von Mises, Leonard Read, Lawrence W. Reed, Gregory F. Rehmke, Sheldon Richman and Ron K. Unz
Related Topic: Free Trade
The Dangers of Socialized Medicine
    by Richard M. Ebeling (Editor), Jacob G. Hornberger (Editor), The Future of Freedom Foundation, 1994
Collection of essays by Ebeling, Hornberger, Dominick T. Armentano, Williamson M. Evers, Milton Friedman, Lawrence W. Reed, Sheldon Richman, David B. Rivkin Jr., Thomas S. Szasz, Lawrence D. Wilson and Jarret B. Wollstein
Related Topic: Health Care
The Failure of America's Foreign Wars
    by Richard M. Ebeling (Editor), Jacob G. Hornberger (Editor), The Future of Freedom Foundation, 1996
Collection of essays by Ebeling, Hornberger, Doug Bandow, Robert Higgs, Simon Jenkins, James Madison, Ralph Raico, Sheldon Richman, Wesley Allen Riddle, Joseph Sobran, Herbert Spencer, William Graham Sumner and Daniel Webster
Related Topic: War
The Free Market and Its Enemies: Pseudo-Science, Socialism, and Inflation
    by Richard M. Ebeling (Introduction), Ludwig von Mises, Foundation for Economic Education, 2004
Based on lectures delivered in 1951; partial contents: Economics and Its Opponents - Pseudo-science and Historical Understanding - Acting Man and Economics - Marxism, Socialism, and Pseudo-science - Capitalism and Human Progress - Money and Inflation
Related Topic: Free Market
The Tyranny of Gun Control
    by Richard M. Ebeling (Editor, contributor), Jacob G. Hornberger (Editor, contributor), The Future of Freedom Foundation, 1997
Shows why gun control poses a threat to liberty; a collection of essays by Ebeling, Hornberger, James Bovard, Richard J. Davis, John L. Egolf Jr., Benedict D. LaRosa, Sheldon Richman and Jarret Wollstein