Praxeology

While artificial intelligence has its merits, it still cannot perform the job of the Misesian entrepreneur. That is a good thing.

One of the fundamental tenets of Austrian economics is the ordinal value scale. Augustine articulated the idea more than a thousand years before Carl Menger wrote his pathbreaking Principles of Economics.

While artificial intelligence has its merits, it still cannot perform the job of the Misesian entrepreneur. That is a good thing.

Murray N. Rothbard slices his way through ten of the most common value-based calumnies against the market economy. An excerpt  from Man, Economy, and State, with Power and Market.

Wendell Berry is hardly Rothbardian in his economic and social outlook. His new book, however, has its Murray Rothbard moments.

While behavioral economics claims to be an effective way of measuring individual economic behavior, it actually sets back authentic economic analysis.

While behavioral economics claims to be an effective way of measuring individual economic behavior, it actually sets back authentic economic analysis.

Yuval Noah Harari, who teaches history at Hebrew University in Jerusalem, denies that free will exists. However, to deny free will is to deny human action itself.

After praising Mises for his work on socialism, Tyler Cowen goes on to claim Human Action is "cranky and dogmatic." "Brilliant and insightful" would have been more truthful.

Mainstream economists claim that data alone can explain economic actions. Austrians know that without theory, data explains nothing.