Calculation and Socialism
In 1920, Ludwig von Mises destroyed the intellectual foundations of the case for socialist central planning.
In 1920, Ludwig von Mises destroyed the intellectual foundations of the case for socialist central planning.
Karl-Friedrich Israel discusses modern econometrics, utility and welfare economics, and econometrics as a set of descriptive tools.
Postwar Germany was occupied, in ruins, with an economy in chaos. Germans were reduced to using cigarettes supplied by American GIs as money.
Menger discovered much more than the principle of marginal utility—he created an entire system of economics based on subjective value and individual choice.
Loan banking versus deposit banking, how deposit banking affects the money supply, and more.
"The free market and the division of labor does not promote hyper-atomized individuals. It creates social harmony and community."
This concept of economic calculation is really the foundation of all economic theory, and price theory is the cornerstone of economic calculation.
Ryan McMaken and Zachary Yost look at the many factors behind Ukraine's failure to defeat Russia or move closer to NATO membership. Ukraine is sadly caught between a cynical NATO and a Russia that is in it for the long haul.
George Gammon warns that the Fed won't have to force the public to adopt a central bank digital currency (CBDC). Instead, the public might clamor for it.
Mark Thornton joins Ryan and Tho on Radio Rothbard to take a closer look at the state of the US dollar and how price inflation and economic crises are likely to play out in the months and years ahead.
Whether political elites promote outright socialism or interventionism, they are advocating a failed economy.