Mainstream economists believe that economic theory is valid when it “predicts” economic actions or trends. Austrian economists, however, say that the purpose of economic theory is to explain economic events.
Robert Kagan of the Brookings Institute clearly does not like anyone to challenge his pro-war beliefs. In his view, any opposition to the all-powerful American state is opposition to everything good and true.
Robert Nozick’s Anarchy, State and Utopia turns fifty this year, and this libertarian classic has stood the test of time.
Tom Woods has put his considerable skills to work exposing the dangers caused by the Federal Reserve System. George Ford Smith reviews his latest book that gives intellectual ammunition to his case.
Robert Nozick’s Anarchy, State and Utopia turns fifty this year, and this libertarian classic has stood the test of time.
George Ford Smith reviews Robert Murphy’s book Understanding Money Mechanics. Murphy, he writes, both explains money and why fiat money is such a dangerous thing in the hands of governments bent on grabbing power and abusing citizens.
Zachary Yost reviewed John Mearsheimer and Sebastian Rosato's recent book How States Think: The Rationality of Foreign Policy. While the book is an excellent source of historical reflection, there are grounds to criticize its epistemology on Misesian grounds.
Two new books, The Lords of Easy Money and The Price of Time, while not specifically Austrian, present readers with financial scenarios that mesh well with the Austrian business cycle theory.
In today’s edition of Friday Philosophy, David Gordon reviews The Prophets of Doom by Neema Parvini. The author deals with conservatives that believe that free markets threaten the virtue of our society.
In this review of Edward Chancellor’s The Price of Time, Joakim Book notes that a market economy cannot function correctly when central bankers manipulate interest rates.
