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PricesValue and Exchange
Market prices reveal critical information about sellers, buyers, and market demand. But government interference in markets substitutes a fake version of reality that leads to impoverishment.
Labor and WagesU.S. EconomyPrices
More than half of the people in the world currently live in urban areas or cities, in spite of it being more expensive to do so. Why?
Other Schools of ThoughtPhilosophy and MethodologyPrices
Dressing up the history of the world, and its economic development, in terms of transaction costs is mostly not very helpful.
Labor and WagesPrices
This Christmas, countless workers will profit when others spend freely on "unnecessary" luxury goods.
Bureaucracy and RegulationPricesValue and Exchange
The unintended consequences of government regulation lead to even more government coercion.
If local prices are sending the message that everything's perfectly normal, residents may be overly optimistic about the risks they face during natural disasters.
The challenge from now on for OPEC and for oil producers is not to seek artificial price inflation, but to improve efficiency.
Austrian Economics OverviewPricesValue and Exchange
The purpose of economic science is not to resolve all social problems, nor does it have appropriate tools for this.
Big GovernmentU.S. HistoryPrices
The crude oil “daisy chain” reseller boom is just one example of the absurdity of the 1970s price controls on the oil and gas sector.
Statistics and empirical data aren't ignored by Austrians. Rather, they are relegated to their proper place in the economic edifice.