Calculation and Knowledge

Bob looks at the misconceptions and misuses of GDP accounting, explaining why this widely accepted metric often paints a misleading picture of economic health.

A common refrain among college fans is, "The Transfer Portal and NIL are ruining college sports." But are they? Before we can answer that question, we have to be able to explain what is happening, and Austrian economics provides the best analytical tools.

Fifty years ago today, December 11, 1974, F.A. Hayek gave his Nobel Lecture in Sweden. The conflict between what the public expects science to achieve in satisfaction of popular hopes, and what is really in its power, is a serious matter.

The concept of economic calculation is vitally important to understanding our modern economy, yet few people— and especially economists—comprehend that it even exists. 

Sponsored by Mark and Mirella Monoscalco.

The concept of economic calculation is vitally important to understanding our modern economy, yet few people— and especially economists—comprehend that it even exists. 

As we wade through the intricacies of modern society, it becomes all the more imperative to go back to the works of Ludwig von Mises.

A modern socialist economy is impossible.

Socialists never give up trying to prove that socialism can maintain a functioning economy. Some have dragged out a nearly forty year old study as their exhibit A.

Socialists never give up trying to prove that socialism can maintain a functioning economy. Some have dragged out a nearly forty year old study as their exhibit A.