Other Schools of Thought

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William Baumol, RIP

Legal SystemEntrepreneurshipOther Schools of Thought

Blog05/05/2017Matthew McCaffrey

Baumol leaves behind an influential body of research on numerous topics relating to entrepreneurship, innovation, and economic growth.

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Moral Hazard: Kenneth Arrow vs. Frank Knight and the Austrians

EntrepreneurshipInterventionismOther Schools of Thought

Blog03/14/2017Matthew McCaffrey

Rather than impartial referees reducing moral hazard, governments are its most common cause.

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Mises Contra Marx

History of the Austrian School of EconomicsOther Schools of Thought

Blog03/13/2017David Gordon

Mises, more forcefully than any other critic, penetrates to the essence of Marx's fallacious view.

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Remembering Oskar Morgenstern

History of the Austrian School of EconomicsOther Schools of ThoughtPhilosophy and Methodology

Blog01/25/2017Richard M. Ebeling

Morganstern is best known as the co-developer of modern game theory with John von Neumann in their 1944 book, The Theory of Games and Economic Behavior.

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The Homo Economicus Straw Man

Free MarketsOther Schools of ThoughtPhilosophy and Methodology

Blog10/26/2016Ryan McMaken

To understand the marketplace, it is not necessary to believe in the existence of a selfish, profit-maximizing human.

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Robert D. Tollison, RIP

BiographiesOther Schools of Thought

Blog10/24/2016Mark Thornton

Tollison was one of the most inventive, prolific, and impactful scholars of our generation.

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The 2016 Nobel Prize: Incentives, Property Rights, and Ownership

Media and CultureOther Schools of Thought

Blog10/10/2016Peter G. Klein

While not Austrian, the body of work by Hart and Holmström is worth careful study and has interesting implications for Austrians.

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The Myth of "Macroeconomics"

EducationOther Schools of ThoughtPhilosophy and Methodology

Blog09/07/2016Ludwig von Mises

The macroeconomic approach looks upon an arbitrarily selected segment of the market economy as if it were an integrated unit.

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Not Every Bad Policy is Socialist

StrategyInterventionismOther Schools of Thought

Blog08/22/2016Matthew McCaffrey

In free-market circles, most government intervention is dismissed as "socialist," with the result that the term has lost its true meaning.

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Keynes Must Die

Money and BanksMoney and BankingOther Schools of ThoughtPolitical Theory

Blog05/26/2016Llewellyn H. Rockwell Jr.

Keynesian economics enjoys universal approval among the political classes. But the whole Keynsian project must be abandoned if we desire economic prosperity.