The Mistaken Identity of Prediction Markets
Mainstream finance regularly confuses finance, insurance and betting. The Austrian School provides the tools to understand their differences.
Mainstream finance regularly confuses finance, insurance and betting. The Austrian School provides the tools to understand their differences.
Murray Rothbard’s system was built upon the natural rights of individuals, and tying liberty to property and ownership, not collectivism.
Beyond the initial oil shock, the Iran war is also laying the foundation for ongoing monetary inflation and price inflation, with no real change to the US regime’s commitment to easy money.
Professor Joseph Salerno traces how Rothbard's mastery of the praxeological method led him to the controversial but logically airtight conclusion that business cycles have a single, exogenous cause and a single cure.
America has a long history of vibrant small business. But small business went into decline in the twentieth century, and it wasn't just due to large scale industrialization. Government has played a big role.
Politicians say they can “fix” the economy. But economists Friedrich Hayek and Ludwig von Mises pointed out how government “fixes" lead to bigger problems. Ryan McMaken appears on Stossel TV.
Rothbard argues that genuine science in the social realm starts with clear logic about human action.
Mainstream economics has deliberately abandoned the history of economic thought. Austrian economists must keep teaching and re-teaching the great debates of the past.
In memory of Roger Garrison, Bob walks through Garrison's famous capital-based macroeconomics diagrams, showing how they translate the Mises-Hayek theory of the boom-bust cycle into the language of modern macroeconomics.
Two interviews, two timelines: before and after the Middle East war. Mark Thornton explains what the conflict means for oil, inflation, and why gold and silver still signal deeper trouble ahead.
Combining binary and triangular interventions, the state coercively taxes citizens to pay for its services, monopolizes certain services, and then is incentivized to engage in paid non-delivery.
Dr. Catherine Pakaluk connects the dots between fiat money, the sexual revolution, and collapsing birthrates, arguing that a culture built on “sterile” choices can’t sustain real, long-run growth.
Jesús Huerta de Soto traces the Austrian school's intellectual roots from the Spanish scholastics to Rothbard, making the case that anarcho-capitalism is the natural endpoint of the classical liberal tradition.
The realist liberalism of the French and Italian nineteenth-century radicals provides the key foundation for secessionist anti-state libertarianism.
Neo-Malthusian Paul Ehrlich recently passed away, but not before his false doomsday claims made his a very wealthy man.
Leftists sarcastically asking where the money for this war will come from are right about the GOP’s hypocrisy, but wrong to imply that it actually means there's plenty to spend on all these government programs. We can’t afford any of this.
Generations of scholars come and go; a few, including Roger Garrison, make their mark on the field and inspire future generations to do the same.
As we continue to celebrate the centennial of the birth of Murray Rothbard, Wanjiru Njoya reminds us that he never compromised his principles and stood for liberty throughout his all-too-brief life.
On the Daniela Cambone Show, Mark Thornton explains why central banks are dumping Treasuries for gold, why US debt is hitting a point of no return, and why silver could move even faster.
Milton Friedman and others tried to explain interest rates using liquidity, economic activity, and inflation expectations. These things, however, only describe interest but do not explain it. Only the Austrian theory of time preference correctly explains interest.