Mainstream economists often look at the numbers first and then use data to construct their theories. As Austrian Economists know, such thinking is backward. We can only correctly interpret data after applying a correct theoretical framework.
The field of behavior economics downplays the role of purposeful praxeology in economics. Austrian economics does not make that error.
Forget the other mainstream explanations for interest. Time preference explains this phenomenon and gives a true picture of why interest exists in the first place.
While most economists admit that value is subjective, they still err by concentrating on scarcity and choice instead of purposeful action by individuals.
"Effective altruism" has become a buzzword with modern progressives who seek to combine state power and billionaire-funded nonprofits to redirect resources.
Bob critiques Yaron Brook's opening statement from the recent Soho Forum debate on the merits of anarchism .
The field of behavior economics downplays the role of purposeful praxeology in economics. Austrian economics does not make that error.
"Effective altruism" has become a buzzword with modern progressives who seek to combine state power and billionaire-funded nonprofits to redirect resources.
While most economists admit that value is subjective, they still err by concentrating on scarcity and choice instead of purposeful action by individuals.
While Murray Rothbard believed that self-ownership formed the basis for private property rights, other philosophers disagree.
