Calculation and Knowledge
Displaying 551 - 560 of 691
What’s Wrong with Monopoly (the game)?
You have surely played the Parker Brother's board game Monopoly. It has been published in 26 languages and in 80 countries around the world.
Why Austrians Should Care About Network Science
Network science matters because even something seemingly as simple as a price for a good emerges from the plans and actions of a multitude of individuals, writes Gene Callahan.
Making Sense of Money Supply Data
There are many available definitions of the money stock: M1, M2, M3, MZM, and a host of others. Frank Shostak says that it actually does matter which one we use.
How Recessions Become Depressions
As all Austrians should be aware, recessions themselves only come about as a reaction to the unsustainable tempo of the preceding Boom, writes Sean Corrigan. Pursue inflationism, frustrate the market, extend socialism, adopt protectionism, embrace militarism, extirpate thrift, expropriate the Middle Classes, consume capital--and ignore the Austrians!--that is the way to turn a recession into a depression.
Economics and Measurement
The collection of prices and quantities contained in, for instance, GDP figures, are an arbitrary choice on the part of the government. And we have no reason to believe that a dollar measure of GDP reflects anything constant about the satisfaction the citizens receive from the dollars they spend. Ultimately, GDP measures nothing more than how many dollars were spent in a nation's economy on selected goods and services.
