Other Schools of Thought

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Textbook Definitions of Economics: An Informal Survey

EducationOther Schools of Thought

Blog10/30/2015

The fundamental divide between Austrian economics and the mainstream is apparent on the first page of many textbooks, in which the authors simply define economics.

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Socialism: Now with Computers!

Calculation and KnowledgeEntrepreneurshipOther Schools of Thought

Blog09/14/2015

There's no shortage of intellectuals eager to churn out new schemes for central planning.

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Infrastructure and Public Works: Crowding Out and Economic Instability

Booms and BustsOther Schools of Thought

Blog02/04/2015

While the policy may appear to work ─ the effect is temporary. One can achieve a short term lower unemployment rate but only at the cost of higher unemployment long term and increased instability.

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Nine Schools of Economic Thought

Austrian Economics OverviewOther Schools of Thought

Blog12/27/2014

Here is an interesting table comparing 9 schools of economic thought.

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Central Banks Are Not Innocent Bystanders

Money and BanksMoney and BankingOther Schools of Thought

Blog11/18/2014

Mises Daily Monday by Peter St. Onge: 

The Economist recently opined that interest rates don't affect...

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Military Socialism

War and Foreign PolicyEntrepreneurshipOther Schools of Thought

Blog11/10/2014

There’s a long history of comparing market competition to warfare. Game theorists, for example, sometimes use metaphors borrowed from military strategy to talk...

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On Pure Capitalism

Other Schools of ThoughtPolitical Theory

Blog07/09/2012

"A social system based on this natural position regarding the assignment of property rights is, and will from now on be called, pure capitalist.  And since its ideas can be discerned as the dominating ideas of private law, i.e., of the norms regulating relations between...

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Reducing Demand By Increasing Taxes: The Non-Logic of Road Socialism

Taxes and SpendingOther Schools of ThoughtPolitical Theory

Blog01/15/2008

When entrepreneurs and business owners and managers face difficulties in the market, it is rare for them to throw in the towel, blame the customer, increase prices and hope that the problem goes away. A business that does not live up to the expectations of the customer becomes marginalized and...

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The Real Aggressor

Other Schools of ThoughtPolitical Theory

Blog12/28/2007

A sign of our time is the split-personality of the conservatives, wrote Rothbard in 1954. Many to the right of center are off on a schizophrenic pursuit of both liberty and collectivism. In domestic affairs this regrettable condition is gradually being recognized for what it is. But the time is...

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