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.
Mainstream economists turned climate warriors use cost-of-production methods to determine the “true” social cost of carbon. They appeal to a discredited methodology falsely attributed to medieval Scholastics.
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.
The field of behavior economics downplays the role of purposeful praxeology in economics. Austrian economics does not make that error.
Rothbard warned against the assumption that because democracies are “better” than dictatorships, they are necessarily more peace loving.
Subjective valuation, which is at the heart of Austrian economic thinking, is not the same thing as someone's opinion.
"Effective altruism" has become a buzzword with modern progressives who seek to combine state power and billionaire-funded nonprofits to redirect resources.
