Calculation and Knowledge

Are we in a recovery? There has been no true recovery since 2008.  Private savings rate went down to zero during the boom. Traditional savings rate of Americans has been ten percent.

Growth requires private saving first, then investment and then production. It cannot be accomplished through sheer credit and credit expansion. Money is not wealth.

The entrepreneur risks, in the present, investment in productions that he thinks will produce some good or service at a profit in the future.

Politicians and regulators usually don’t know what they don’t know about everything from health care to your small business, but that sort of compound ignorance won’t stop them from regulating the minutiae of everyday life and commerce.

Drug warriors rely on bad and manipulated data to make the claim that respecting private property rights in Colorado is “terrible public policy,” w

The economics profession acknowledges Menger’s place due to his contribution to the Marginalist Revolution in the 1870s, it otherwise ignores him because his theoretical framework does not lend itself to policy prescriptions.

Austrian capital theory explains why creating a more technologically-advanced society is easier said than done, writes Mark Tovey.

Economists often rely on the assumption of “other things equal.” The problem arises when politicians ignore the economy and unintended results, wri

An economy cannot be successfully planned with computers and technicians. Mises and Hayek proved this decades ago, writes Nicolás Cachanosky.

The problem is a confused reading of how markets work, and how governments continue with deficit spending in the service of favored interest groups.