In its most basic application, the TANSTAAFL (There Ain't No Such Thing As A Free Lunch) principle is a simple statement of reality: everything of value has a cost. The TANSTAAFL principle can also be interpreted as a mandate for a policy of full-cost pricing. In a world where resources are scarce...
04/30/2015Quarterly Journal of Austrian EconomicsEdwin G. Dolan
This short article emphasizes the importance of an institutional framework for environmental mass torts, without which a strict application of libertarian ethics leads to corner solutions in which there is a coordination failure.
08/21/2014Quarterly Journal of Austrian EconomicsEdwin G. Dolan
In the introduction to the proceedings of the South Royalton conference, I 1 suggested that Austrian economics had the potential not just to survive but also to achieve what Thomas Kuhn (1962) calls a scientific revolution . Such a revolution would fundamentally change the way practitioners of a...
Part 2 from the 7 part panel recorded at the 2014 Austrian Economics Research Conference in Auburn, Alabama, on 22 March 2014. Sponsored by Jing Jin and Wai Chan. Also includes remarks by Joseph T. Salerno.
The F. A. Hayek Memorial Lecture, sponsored by Butler Shaffer. Recorded at the 2014 Austrian Economics Research Conference in Auburn, Alabama, on 21 March 2014.
