Calculation and Knowledge

We've been told that with enough data, we can use sophisticated computing methods to predict the future. That often works with the physical sciences, but predicting human action is something else altogether.

It’s not a coincidence that wherever war and socialism are implemented, the results tend to be the same.

Whether its drug prices, crushing debt, or unemployment, government can always come up with someone else to blame. Fortunately though, in spite of the lackluster economy the Fed and the government seem committed to giving us, there's hope for a much better future.

Never published before, this short essay about Ludwig von Mises by his personal assistant, Bettina Bien Greaves, outlines what it was about Mises's creativity and scholarship that made him truly unique.

There's no shortage of intellectuals eager to churn out new schemes for central planning.

Wu has written an outline of international price theories that map the theoretical development of international economics. It is a major achievement.

John Mueller believes economics is fatally flawed because it cannot account for charitable love between persons.

I suggest that further research is needed before we can establish the conditions under which the value of personal gifts can adequately be calculated.

Quarterly Journal of Austrian Economics 18, no.

There's no Platonic laboratory where "pure" science happens independent of human ideas, motivations, and institutions.