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.
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.
The typical mainstream economic view of interest rates ignores an important factor: individual time preferences.
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?
Austrian economics begins with logical deductions made from what we know about human action, not data sets that are subject to change.
"Let's celebrate the prodigious life of Lu Mises, a life in which he fused crowning insight on how the world tackles the law of scarcity, with lifelong moral courage."
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?
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.
Modern economics claims that quantitative methods are central to understanding economic analysis. Mises demonstrated why this belief is untrue.
The idea of private property not only agrees with our moral intuitions—it is the sole just solution to the problem of social order.
