Austrian Economics Overview

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

Presented at Mises University 2022.

Entrepreneurship is a general feature of the market economy.

"We would not expect money to be paper, national, or under the control of any entity."

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

Praxeology is the method of economics.

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

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

As the US political landscape shifts rapidly and college economics departments become increasingly hostile, the way we teach free-market economics will change.

One of the most controversial areas in Austrian economics, and one where even long-established Austrian theorists differ sharply, is monopoly theory.