Austrian Economics Overview

Less and less and less?

What is a business cycle?

There is no clear basis in economics, ethics, efficiency, or fairness for Minimum Wage Laws.

Time is an irreversible flux. Each moment has a unique place in the sequence of moments of time with respect to action.

Praxeology is the method of economics.

Entrepreneurship is a general feature of the market economy.

Menger discovered much more than the principle of marginal utility—he created an entire system of economics based on subjective value and individual choice.

"The free market and the division of labor does not promote hyper-atomized individuals. It creates social harmony and community."

Presented at Mises University 2022.

This concept of economic calculation is really the foundation of all economic theory, and price theory is the cornerstone of economic calculation.