Both Frank H. Knight and Ludwig von Mises are recognized as founders of intellectual traditions: the Chicago School and the neo-Austrian School of economics, respectively.
A sizable number of examiners of Austrian economics have come to hold a mistaken view that Hoppe’s and Rothbard’s stances on the nature and status of the action axiom are fundamentally incompatible.
Cartels, characterized by activities such as simultaneous price increases or decreases, or virtual price identity at almost the same time, without explicit communications or agreements, have long been discussed.
Economists are familiar with the cliche' "lies, demand lies, and statistics," which puts statistics at the top of the pyramid of lies.
Austrian monetary inflation theory claims that changes in the money supply are disproportionately distributed throughout an economy, and as a result wealth inequality is exacerbated.
Entrepreneurs exploit market opportunities and innovate to achieve or maintain strategic advantage over their competitors.In the absence of government regulation,
Ludwig von Mises, Friedrich Hayek, and Murray Rothbard were the main architects of the distinctly Austrian theory of production as it exists today. All three conceived the entrepreneurial function
Andrew Young (2009) suggests a capital-based theory for secular growth that is consistent with Austrian capital theory. He argues that investment in intangible capital
This paper briefly summarizes Ulrich Fehl’s important contributions to Austrian capital theory. While his work is well known in Europe he remains a relative unknown to the English speaking world.
We examine the strict preference approach to the interpretation of human action and the assertion that a choice cannot be made between actions in which the actor is indifferent to the outcomes.
