Calculation and Knowledge

While IP may not stimulate true innovation and creativity, Hayek suggests that copyright might stimulate something more pernicious: the intellectua

Excellent post by Mike Masnick on Techdirt:

Thanks to Don Lloyd for this link to an interesting st

It seems that we may never rid ourselves of the broken-window fallacy, writes Mark Thornton.

Samuelson makes grandiose and indefensible claims on behalf of the use of mathematics in economics.

Monetary calculation is the guiding principle of action in any society with a division of labor.

I surely should have heard about J.B. Say’s Catechism on Political Economy, but in fact I don’t recall knowing about it.

Economic calculation encompasses everything that trades against money. There is nothing "objective" about them.

Acting man transfers the valuation of ends he aims at to the means.

It’s interesting how during a bust, the Austrian School suddenly gains greater prominence and people act as if the Austrians are just another