Investment and lending abroad are only possible if the receiving nations are unconditionally and sincerely committed to the principle of private property and do not plan to expropriate the foreign capitalists at a later date.
Caplan's claim that the value-scale approach is inadequate for explaining these effects is simply an incorrect interpretation of Professor Rothbard's theoretical framework.
Then you may boast that you are the only school in the nation that offers any formal study of such economics based in deduction.
"The conference on Austrian economics was planned as a catalyst for expanding interest in the praxeological approach. To this end, the conference must be declared a resounding success."
The science of human action is mental and aprioristic, it is the product of a logical analysis of the categories implied in different modes of action.
An "anarchic" private law society — is the answer to monarchy and democracy.
The thought mechanisms that lead some people to like (or, as economists say, have preference for) gambling are of no more economic interest than the reasons why some people like going to soccer games while others like to stay at home. Answering such questions may be a job for psychologists, but it is not one for economists.
"Savings are an indispensable prerequisite for increases in productivity that involve lengthening the structure of production."
"Ludwig von Mises was, first and foremost, an economist and social scientist who built an entire intellectual system from a very simple principle: man acts."
Each of us wants the ability to better our condition through substituting one bond with another that we believe to be of greater value (divorcing in order to marry a more considerate spouse, switching holdings in a securities portfolio, changing jobs, placing our children in a better school).
