In a recent article Robert P. Murphy (2006) uses Cantor's diagonal argument to prove that market socialism could not function, since it would be impossible for the Central Planning Board
Ludwig von Mises established the foundations of modem Austrian economics while Irving Fisher established the foundations of modem mainstream macroeconomics and central bank policy.
Caplan has thought much about his topic. However, redefining policy preferences that he and probably most economists disagree with as “irrationality” is dubious
Much has been written about the quantity of money and its effects on money’s purchasing power. However, changes in the quality of money have been widely neglected.
It is common to assume in business cycle analysis that the capital stock is homogenous and constant in aggregate value.
This paper contrasts mainstream analysis of the recent boom/bust episode and its massive interventions with Austrian business cycle theory (ABCT).
There are two Coase theorems. The simplistic one deals with the unrealistic world of zero transactions costs. The more important one addresses itself to the real world, where transactions costs are positive,
To analyze the feasibility of applying the Coase Theorem, this article uses two traditional arguments, economic calculation and non-neutral effects, found in the Austrian literature.
Hayek is seen as one of the main opponents of Keynes because of the debate about macroeconomics that they had in the early thirties.
The 2007–2008 financial crisis, accompanying recession, and continuing slow recovery have reinvigorated crude Keynesianism as the foundation of a "somebody in charge" policy to combat recession and high unemployment.
