Calculation and Knowledge

Robert Murphy unmasks another absurd assumption in a counterintuitive conclusion of mainstream economics.

Frank Knight complicates things in interesting ways. He first argues for a free economy in a way that Austrians can only applaud. 

Are American workers becoming more productive? The data used to measure productivity are unreliable.

The Austrian Theory has come under fire; Gene Callahan responds in defense.

Government statistics often carry the label, but Frank Shostak says it is worse than meaningless.

Robert Murphy notes more absurd assumptions and the "counterintuitive" conclusions flowing from them.

Roger Garrison answers the question: why does news of strong economic growth often precipitate a fall in stock prices? 

A fairly well-established subclass of neoclassical economics fails to get to the root of the problem, argues Chris Westley. 

Man does not operate based on a "utility function," but by making discrete, unpredictable decisions when faced with a choice, writes Gene Callahan.

Walter Block decries the use and misuse of these terms in modern political vocabularly.