Capital and Interest Theory

Austrian economists have long emphasized the importance of time preference in determination of interest rates and the direction of the economy. Here is more evidence of why that is true.

Jeff and Edward Chancellor discuss The Price of Time and delve into the all-important topic of market-set interest rates as an important indicator of a healthy society, and why manipulating them is so harmful. The current system isn't working, so what can be done?

For nearly two decades, business, academic, and political elites have spread the fiction that central banks can engineer prosperity by printing more money. Markets now are discrediting that fairy tale.

For nearly two decades, business, academic, and political elites have spread the fiction that central banks can engineer prosperity by printing more money. Markets now are discrediting that fairy tale.

It has been a hundred years since Mises published Socialism. It is more relevant than ever.

The Fed's predictable response to inflation is based on erroneous economic thinking common with Keynesians. Only a free-market approach can reduce inflation and restore true market interest rates.

Mainstream economists claim that data alone can explain economic actions. Austrians know that without theory, data explains nothing.

Mainstream economists claim that data alone can explain economic actions. Austrians know that without theory, data explains nothing.

Keynesians claim that tax cuts are good because they help increase consumer spending. But here's why this doesn't matter.

Thomas Piketty writes about equality and believes that reimposing communism in the West will achieve it. Mark Thornton disagrees.