Calculation and Knowledge

Artificial Intelligence, for all of the fear-mongering taking place, simply is a tool that if applied in a free market setting will make our economy stronger, not weaker.

The standard line for passenger rail travel in the US is that we need a government-subsidized entity like Amtrak because while there is a “need” for such service, it is impossible to provide it profitably. However, profitable travel is possible, but would require the end of Amtrak itself.

In examining the Austrian Regression Theorem of Money, Joshua Mawhorter takes on the Chartalist/MMT claim that government gives money its value. The Chartalist/MMT advocates lack a necessary cause-and-effect mechanism to prove their claims.

In examining the Austrian regression theorem of money, Joshua Mawhorter takes on the chartalist/MMT claim that government gives money its value. The chartalist/MMT advocates lack a necessary cause-and-effect mechanism to prove their claims.

A modern socialist economy is impossible.

This summer, Hollywood is celebrating the 50th anniversary of its summer blockbuster “Jaws.” The making of such films provides a good analysis of how entrepreneurs operate in a world of uncertainty. Austrian economists are best able to understand how this process works.

Creating a hit movie series, television show, or video game is a phenomenon that not only strikes without warning, but can also strike in unexpected places—or fail to strike where it is intended. Austrian economics provides some key insights.

The standard argument for government services is that only government can build enough roads to meet transportation needs. However, the disconnect between production and consumer choice ensures misallocation of resources under government roads, including traffic congestion.

The standard argument for government services is that only government can build enough roads to meet transportation needs. However, the disconnect between production and consumer choice ensures misallocation of resources under government roads, including traffic congestion.

Bob hosts economists Vincent Geloso and Chandler Reilly to discuss their new paper, which applies Rothbard's "Private Product Remaining" to rethink how national output is measured.