Praxeology

Keynesians and fellow travelers hold the Phillips curve to be sacrosanct. But because the Phillips curve cannot establish causality, it is useless as economic theory.

Keynesians and fellow travelers hold the Phillips curve to be sacrosanct. But because the Phillips curve cannot establish causality, it is useless as economic theory.

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.

Austrians can learn from engaging with non-Austrian monetary theorists. But Chicagoans would do well to pay attention to Austrian thought, as Kristoffer Hansen shows in this reply to Salin.

In this reply to Pascal Salin, Nikolay Gertchev contends that an unintended contribution of Salin's article is that methodological differences between the Austrian and Chicago schools prevent reconciliation.

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.