Capital and Interest Theory

On the day Greenspan died, this 2001 essay by Joseph T. Salerno deserves a second life. It documented what the mainstream refused to see.

Bob sits down with Harvard Economics Professor Pol Antras to discuss his new paper applying Böhm-Bawerk's average period of production to international trade.

Time is a unique resource in economics because we cannot create more of it and are subject to its limitations. Ludwig von Mises and the Austrians understand the role of time in economic better than most other mainstream economists.

Time is a unique resource in economics because we cannot create more of it and are subject to its limitations. Ludwig von Mises and the Austrians understand the role of time in economic better than most other mainstream economists.

This week, Bob walks through three thought experiments to show how expectations of future supply changes ripple into present prices and production decisions in ways that purely mechanical monetary frameworks like MV=PQ can't capture.

Corporate finance can help introduce classifications such as the distinction between the assets of a natural person and a legal person, but also by incorporating profitability, liquidity, and solvency variables into economic policy analysis.

Marxists have claimed that capital undermines human freedom. Ludwig von Mises, on the other hand, pointed out that capital developed within a free market is essential to personal liberty.

Mises described the problem, Hayek proposed the direction, Kirzner explains why the market will not stop. And the market, as so many times before, has already found the first step.

When inflation heats up because central banks hold interest rates to artificially low levels, the standard approach is for central banks to increase interest rates. The better policy is not to artificially manipulate interest rates at all.

Mises described the problem, Hayek proposed the direction, Kirzner explains why the market will not stop. And the market, as so many times before, has already found the first step.