Prices

Can silver be called a Giffen Good? Probably not, although that fact doesn’t discourage some from looking for the equivalent of a unicorn in economic thinking.

The ongoing destruction of the world’s largest natural-gas reservoir at South Pars and Qatar has produced exactly what Austrian economics predicts: sudden, irreplaceable capital destruction followed by a violent supply shock.

Drawing on Man, Economy, and State, Dr. Jonathan Newman walks through Rothbard's theory of price formation and competition, showing that prices reflect subjective preferences, not seller greed, and that the only consumer-harming monopolies are those created by the state.

A century after Ludwig von Mises exposed the fundamental weakness in the socialist economy, Jesús Huerta de Soto demonstrates why Mises was right and his detractors were wrong. In Friday Philosophy, Dr. David Gordon explains why Huerta de Soto is right.

President Trump announced the tariffs aiming at two goals: protecting American producers and the relocation of foreign companies to the US. People have been “protected” by being disallowed peaceful, mutually-beneficial trades with others.

While Modern Portfolio Theory (MPT) is popular in academic economics and finance, it fails to properly explain profits, mistakenly confusing entrepreneurial profit seeking with risk management.

While Modern Portfolio Theory (MPT) is popular in academic economics and finance, it fails to properly explain profits, mistakenly confusing entrepreneurial profit seeking with risk management.

Much of mainstream economics holds to the Efficient Market Hypothesis (EMH), which is built on highly unrealistic foundations. The Austrian causal-realist approach has more explanatory power.

New scholarly work is appearing regularly in the Quarterly Journal of Austrian Economics and the Journal of Libertarian Studies. Here is a sampling of recently published articles.

No matter how “inelastic” the demand, excessively high prices cannot persist indefinitely without human action.