Calculation and Knowledge

The dot-com shakeup reminds us that both profit and loss have social and economic merit and should be allowed to take their market-driven course, says Lew Rockwell.

Human action really is different from the physical sciences, says Gene Callahan. Collecting data and testing results doesn't tell you want you want to know.

Some economists say measuring inflation is as easy as checking a thermometer. Gene Callahan debunks this view.

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?