Praxeology

Rising income inequality and concentration of resources into fewer large firms are not a problem for marginal-pricing theory.

Every human action is undertaken in the hope of gaining at least some psychic profit. Profit need not be measured in dollars.

Man has only one tool to fight error: reason.

Hans-Hermann Hoppe explains why praxeology is the proper economic methodology.

Not a Snow Job; or, Spontaneous Order in Winter.

The new trend among famous economists is pointing out the times they changed their views in light of new empirical findings. Far from defending economics as a science and a profession, this trend actually reveals the unscientific and ideological nature of mainstream economics.

Bob Murphy lays out how we should go about understanding economics.

The world waits to see if next week is finally the week that the Fed announces its rate hike. Can the economy survive whatever small bump the Fed deals out? Perhaps, but that won’t change the inherent instability of our current monetary regime.

We've been told that with enough data, we can use sophisticated computing methods to predict the future. That often works with the physical sciences, but predicting human action is something else altogether.