Production Theory

An economy cannot be successfully planned with computers and technicians. Mises and Hayek proved this decades ago, writes Nicolás Cachanosky.

This paper defends the Rothbardian theory which states that the proportion of consumption spending relative to investment spending is systematically related to the interest rate through time preference in society,

The aim of this paper is twofold: to reformulate the concept of contestable markets in the context of property boundaries and to recapitulate the characteristics of “sunk costs.” 

There exists a modest but steadily growing literature on the economics of science. Much of it concerns the funding of research and the reaping of societal benefits therefrom, but one also sees increasing interest 

In his recent Mises Daily, Dave Albin admirably elucidates th

Do we now have the Third Culture that C. P. Snow saw coming to life? It would appear so.

The corn, sugar, and ethanol industries in the US are all part of a complex system of government subsidies and other favors, writes Dave Albin.

Labor unions work to prevent increases in the productivity of workers, which is ultimately the only way to increase real wages, writes George Reism

Empirical analysis and interpretation of employment and interest data based on the Hayekian triangle have proved highly fruitful in revealing new information about the structure of U.S. production.

Does Structuralist unemployment theory in the spirit of Edmund S. Phelps (1994) contain Austrian elements? Austrian macroeconomics concerns itself with the intertemporal capital structure  and entrepreneurial expectations.