William Baumol, RIP
Baumol leaves behind an influential body of research on numerous topics relating to entrepreneurship, innovation, and economic growth.
Other Schools of Thought
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An Interview with James Buchanan
An interview with James Buchanan, founder of the public choice school and 1987 Nobel Prize recipient in economic science.
Marx’s Theory of Stages: The Withering Away of the State Under Socialism
Ralph Raico looks at Karl Marx's stages of socialism and finds them wanting.
What Caused the Irish Potato Famine?
As with most famines, it was government meddling that converted the Irish potato famine from a food-production problem into a deadly catastrophe.
Moral Hazard: Kenneth Arrow vs. Frank Knight and the Austrians
Rather than impartial referees reducing moral hazard, governments are its most common cause.
Mises Contra Marx
Mises, more forcefully than any other critic, penetrates to the essence of Marx's fallacious view.
Remembering Oskar Morgenstern
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.
The Homo Economicus Straw Man
To understand the marketplace, it is not necessary to believe in the existence of a selfish, profit-maximizing human.
Robert D. Tollison, RIP
Tollison was one of the most inventive, prolific, and impactful scholars of our generation.
The 2016 Nobel Prize: Incentives, Property Rights, and Ownership
While not Austrian, the body of work by Hart and Holmström is worth careful study and has interesting implications for Austrians.
