Other Schools of Thought

Money did originate from the state, no matter how many times contemporary monetary theorists might claim otherwise.

Money didn't originate from the state, no matter how many times contemporary monetary theorists might claim otherwise.

The question is not plan or no plan. Everyone plans. The question is whose plan—and what happens to yours when it conflicts with the planner's. Mises traces the path from Marx to Comte to the social engineers, and shows why the destination is always the same.

Bob sits down with economist Emmanuel Maggiori to discuss his new book that engages MMT on its own terms, drawing on the MMTers' own textbook, papers, and responses to critics.

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.

The doctrine of positive economics tells us that data will provide an appropriate theory. As usual Austrian economists understand that mainstream economists have the entire thing backwards.

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.

One of the prevailing myths today is the belief that AI can help to “automate” the economy. That is impossible, given that only humans can determine the value of something.

Bob argues that many Austro-libertarians (himself included) have been too quick to dismiss the Trump administration's foreign and economic policy as mere incompetence or corruption, without grasping the strategic logic behind it.

In 1871, the “discovery” of marginal economic analysis soon took a wrong turn, moving towards quantification, data, and mathematics. It is time to “rediscover” the margin, this time the margin as explained by Carl Menger.