Speaking at the recent Rothbard Graduate Seminar, Dr. Joseph Salerno traces Murray Rothbard‘s intellectual development while in the economics Ph.D. program at Columbia University. Rothbard was dissatisfied with the popular schools of thought until he discovered Austrian economics.
Speaking at the recent Rothbard Graduate Seminar, Dr. Joseph Salerno traces Murray Rothbard‘s intellectual development while in the economics Ph.D. program at Columbia University. Rothbard was dissatisfied with the popular schools of thought until he discovered Austrian economics.
This summer, Hollywood is celebrating the 50th anniversary of its summer blockbuster “Jaws.” The making of such films provides a good analysis of how entrepreneurs operate in a world of uncertainty. Austrian economists are best able to understand how this process works.
Creating a hit movie series, television show, or video game is a phenomenon that not only strikes without warning, but can also strike in unexpected places—or fail to strike where it is intended. Austrian economics provides some key insights.
Mainstream economics is deterministic, holding that economic actors continue to move in one directions, not responding to changes in economic circumstances or incentives. The Austrians understand economics is about people engaged in purposeful action.
Mainstream economics is deterministic, holding that economic actors continue to move in one direction, not responding to changes in economic circumstances or incentives. The Austrians understand economics is about people engaged in purposeful action.
In this week‘s Friday Philosophy, Dr. David Gordon looks at the methodology of Timothy Williamson. While Williamson might not like the implication, Dr. Gordon notes that Williamson‘s methodology can be used to defend the epistemological views of Murray Rothbard.
Marxism has seeped into politics, education, and religion—reducing human action to class and race. Mises offers a more accurate understanding of how humans act.
Modern neoclassical economics is based upon the physical sciences, which Austrian economists recognize is an inappropriate way to explain economic phenomena. Ludwig von Mises recognized this fraudulence, calling it “scientism.”
Mainstream economists define inflation as the increase in an imaginary “price level” that is relatively neutral in its effects. Austrian economists, however, know better, as they realize that the effects of inflating the money supply are anything but neutral.
