Calculation and Knowledge

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. 

Americans have more housing choices than ever before, thanks to the automobile and modern communications. The regulators are fit to be tied, says William Anderson. 

According to the internet-based "futures market" run by the University of Iowa, almost anything can happen in this year's elections.

Those protesting he IMF and World Bank think they are attacking free markets. Yet these bureaucracies were hatched by Keynesian central planners, and should be opposed on free-market grounds.