Garett Jones on the Legacy of Robert Solow
Economic giant Robert Solow died in December 2023. He was a Nobel laureate, and four of his PhD students went on to also receive the Nobel. He is known for the growth model named in his honor.
Economic giant Robert Solow died in December 2023. He was a Nobel laureate, and four of his PhD students went on to also receive the Nobel. He is known for the growth model named in his honor.
Robert Murphy explains how traders make money in a world of uncertainty and diabolical risk.
Robert Murphy explains how traders make money in a world of uncertainty and diabolical risk.
In contrast to the imaginary way that mainstream economists present value, Austrian economists properly use ordinal rankings to determine value.
“Our civilization is inseparably linked with our methods of economic calculation."
This concept of economic calculation is really the foundation of all economic theory, and price theory is the cornerstone of economic calculation.
"The free market and the division of labor does not promote hyper-atomized individuals. It creates social harmony and community."
Menger discovered much more than the principle of marginal utility—he created an entire system of economics based on subjective value and individual choice.