Mises Wire
Author:
Robert P. Murphy
Online Publish Date:
David Friedman recently posted a critique of Austrian economics as laid out in the Rothbardian tradition. In his essay, Friedman repeats a claim he has made before —namely that economists used to agree with the Austrians that utility was ordinal, but after the publication of John von Neumann and Oskar Morgenstern’s work on game theory in 1947, it