Praxeology

Displaying 1 - 10 of 367

What Happens When Central Banks Attempt to Tighten? Even More Resource Misallocation

Central BanksThe FedInflationMonetary TheoryPraxeology

Blog05/13/2022

Popular economic wisdom says central banks can counter harmful effects of inflation by raising interest rates. Unfortunately, such moves carry their own forms of misallocation of resources and capital.

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What Determines Interest Rates? Comparing Mainstream Economics to the Austrian School

Central BanksMoney and BanksCapital and Interest TheoryPraxeology

Blog04/29/2022

The typical mainstream economic view of interest rates ignores an important factor: individual time preferences.

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Economic Theory Begins with Human Action, Not Data Sets

Booms and BustsFree MarketsAustrian Economics OverviewPraxeology

Blog04/25/2022

Austrian economics begins with logical deductions made from what we know about human action, not data sets that are subject to change.

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Are Equal Pay Arguments Based upon the Labor Theory of Value?

Free MarketsLabor and WagesPraxeologyValue and Exchange

Blog04/19/2022

Arguments for equal pay are popular in our body politic, but what happens if some of those arguments are based upon the faulty logic of the labor theory of value?

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Jordan Peterson on Austrian Economics: Free Markets Are "Profoundly Equitable"

CoordinationFree MarketsPhilosophyPlanningPhilosophy and MethodologyPraxeology

Blog04/18/2022

Jordan Peterson is turning his eye toward Austrian economics. Unlike the many conservatives who see free market advocacy as some sort of "dangerous fundamentalism," Peterson seems to get it.

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Quantitative Methods Are Incomplete When Used for Economic Analysis

The EntrepreneurAustrian Economics OverviewEntrepreneurshipOther Schools of ThoughtPraxeology

Blog03/09/2022

Modern economics claims that quantitative methods are central to understanding economic analysis. Mises demonstrated why this belief is untrue.

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What the New Nobel Winners Get Wrong about Economics

Philosophy and MethodologyPraxeology

Blog10/12/2021

The new Nobel winners apparently think we can discover economic laws by crunching numbers. That's not how it works.

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Milton Friedman's Methodological Mistake

Other Schools of ThoughtPraxeology

Blog04/30/2021

Key methodological differences between Austrians were highlighted in Milton Friedman's "The Methodology of Positive Economics." A key piece of conflict: Friedman's focus on prediction rather than explanation.

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State-Mandated Vaccines Are a Moral Minefield

HealthPraxeology

Blog02/13/2021

Forcing one person to take medication or vaccines for the benefit of another person is directly opposed to basic notions of self-ownership and human rights. 

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