Austrian Economics

A question and answer period for Mises University students.

A century of altering the social and economic life in the West: World War I.

You may have heard about the Swiss referendum to end fractional reserve lending by Swiss commercial banks. It's a fascinating development, and another example of how average Swiss people can use the federal referendum process to force both the central legislature and the 26 cantons to consider citizen proposals—merely by gathering 100,000 signatures within 18 months.

Strange centennial somehow makes sense in the World of Leviathan.

In this paper, a “praxeology of coercion,” or, more precisely, an analysis of interpersonal actions involving threats, is developed. This is an attempt to further the analysis of human action as defined by Mises.

Daniel Hausman, an influential philosopher of economics, in a recent interview has much to say of interest to Austrians.

Is the Coast Clear? I don't think so.

Austrians today are nearly alone in asserting what the classical economists all knew. You cannot create prosperity by creating more money, but only through increases in technological progress, frugality, trade, and a division of labor.

Reducing government spending results in an immediate increase in welfare for all productive members of the economy. But, the way we calculate economic growth is rigged to make it look like more government spending fuels economic growth.