Philosophy and Methodology

Although it's true that Austrians agree with Chicago economists on many policy issues, their approach to economic science is very different.

The weird thing about dialectical materialism is that Marx seems to have cobbled it together from two philosophies that contradicted each other.

The weird thing about dialectical materialism is that Marx seems to have cobbled it together from two philosophies that contradicted each other.

In theory, it is possible to adjust inflation measures to account for the many constant changes in prices resulting from changing demand, quality, and innovations. But it's essentially impossible to execute these adjustments accurately.

In theory, it is possible to adjust inflation measures to account for the many constant changes in prices resulting from changing demand, quality, and innovations. But it's essentially impossible to execute these adjustments accurately.

Can indifference be demonstrated in action?

Buyers and sellers in the free market do indeed act from self-interest, but Adam Smith never argued that this excludes friendly feelings for those they do business with.

Presenting "saving lives" as a more or less equal alternative to commerce and community is a misguided view of what the lockdown debate is really all about.

Buyers and sellers in the free market do indeed act from self-interest, but Adam Smith never argued that this excludes friendly feelings for those they do business with.

Presenting "saving lives" as a more or less equal alternative to commerce and community is a misguided view of what the lockdown debate is really all about.