Modern academics are relentless in trying to find any nuances they can from the works of Karl Marx, but they miss the larger issues with his work. Marx was alive and active when the marginalists logically took apart his value theory, but hope springs eternal for Marx‘s supporters.
The Austrian School of Economics represents a heterodox methodological approach to economics that significantly differs from the orthodox teachings
Contrary to anti-freedom myths, "greedy" business owners don't decide what prices will be for goods and services.
The iconic Hermès Birkin bag helps illustrate Carl Menger’s “Theory of the Good,” and Ludwig von Mises’s explanation of human action.
Bob discusses common talking points that pro-free-trade economists often use when making the case against tariffs.
One of the important points made by Carl Menger in his 1871 Principles is that people ordinally rank their preferences, valuing some things more than others. While this seems to be a common-sense principle, it actually has important implications for economic theory.
Contrary to anti-freedom myths, "greedy" business owners don't decide what prices will be for goods and services.
The iconic Hermès Birkin bag helps illustrate Carl Menger’s “Theory of the Good,” and Ludwig von Mises’s explanation of human action.
One of the important points made by Carl Menger in his 1871 Principles is that people ordinally rank their preferences, valuing some things more than others. While this seems to be a common-sense principle, it actually has important implications for economic theory.
The Salamanca School is known for important contributions to free-market economics and the Austrian School. The Bolognese jurists also made key contributions.
