Philosophy and Methodology

Austrian economists differ with the economic mainstream in many ways, but the break on utility theory is especially critical in understanding the split between the two schools of economic thought.

 The natural law is, in essence, a profoundly “radical” ethic, for it holds the existing status quo, which might grossly violate natural law, up to the unsparing and unyielding light of reason.

Hoppe is an exacting analyst of what works, not an architect of upheaval.

Paul Gottfried reviews Ulrich Hintze's Theoria Generalis: Das Wesen des Politischen. Hintze argues that true political authority requires individual freedom, and he criticizes modern democracy for devolving into bureaucratic predation.

We owe a great debt to Gary Galles for collecting no less than 97 of Leonard Read’s articles, accompanied by a commentary of his own in which he shows their relevance to contemporary issues.

Mainstream economists claim that they can use econometric models to emulate human action and, thus, create an economic laboratory. These models, however, cannot tell us about cause-and-effect, which is vital to understanding praxeology and economic behavior.

Mainstream economists claim that they can use econometric models to emulate human action and, thus, create an economic laboratory. These models, however, cannot tell us about cause-and-effect, which is vital to understanding praxeology and economic behavior.

Economist Joseph Salerno,  an expert on the Austrian School, money, and methodology, joins us to talk about what makes the Austrian School of economics different. 

Many "social justice" advocates claim to appeal to a “higher law,” but they usually refuse to acknowledge economic laws because those laws stand in their way of creating the "just" society.

Surveys used to gauge optimism or pessimism about the economy may be interesting to read, but unless they are the product of sound and realistic economic theory, they are not economically useful.