Austrian Economics Overview

The discussion on pages 635–636 explains the "tragedy of the commons," in which people overutilize a resource (such as a buffalo herd or pasture) because of weakly defined or enforced property rights.

An overview of Austrian Economics presented at West Georgia College on 27 March 2008. Includes a Question and Answer period.

The fundamental act of choice always involves a purely ordinal value judgment, not a quantitative "measurement" of subjective value.

Because of the current economic and political climate, it is important to understand what we can do — and what we cannot hope to do in the short run.

Recorded at Mises University 2007.

This short chapter provides the link between Part II (Action Within the Framework of Society) and Part III (Economic Calculation) of the book.

In the present chapter, Mises argues that ideas control human destiny.

He is pretty old in 1969 but it is wonderful to hear his voice and he still seems sharp as a tack.

The customary terminology misrepresents these things entirely. The philosophy commonly called individualism is a philosophy of social cooperation and the progressive intensification of the social nexus.

A general rise in prices can only occur if there is either a drop in the supply of all commodities or an increase in the supply of money.