Capital and Interest Theory

Two of the best American Austrians feuded over a book review, trained no successors, and their school quietly died out. Paul Cwik and Shawn Ritenour on the Austrians you may not know, and the ones we almost lost.

Everyone wants the one key to economic growth—capital, or technology, or trade. Shawn Ritenour argues there is no single key, and that's exactly what the models keep missing.

When savers cut back and consumption falls, most economists cry "recession!" Paul Cwik on why an Austrian sees the opposite: an economy quietly retooling for future growth.

Interest isn't the price of borrowing money or the reward for productive capital. It's the price we put on now over later. Jeffrey Herbener on time preference and the theory of interest.

Many economists believe that expanding the money supply helps create and facilitate economic growth. That is not the case.

To help mark the passing of former Federal Reserve Chairman Alan Greenspan, we run this 2001 piece from Dr. Joseph Salerno, who understood the Greenspan fraud long before "The Maestro" tanked the US economy by setting off the Housing Bubble.

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.