Free Markets

What can be more Austrian than an investment strategy that is based entirely in the notion that the future is uncertain and accurately forecasting it is impossible?

Neoclassical economists, and specifically monetarists, have brought us here. Keynesian theory fell apart in the 1970s, and now monetarism has followed. The Austrian School is the only remaining source of credible analysis and sound economic policy.

Rather than accept either administrative law or legislation, Leoni calls for a return to the ancient traditions and principles of "judge-made law" as a method of limiting the State and insuring liberty.

The Free Market 27, no. 1 (January 2009)

We must become the intellectual dissidents of our time, rejecting the demands for statism that come from the Left and Right.

The art of economics consists in looking not merely at the immediate but at the long effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.

As always, the little guys are told to give up their way of life to preserve the high-paying jobs of corporate and union executives — along with the jobs of people who make cars no one wants to buy.

Given the poor quality of the reasoning behind Samuelson's remarks we should doubt his advice, not F.A. Hayek and Milton Friedman's.

As theory and evidence suggests, market-oriented reforms are not faith-based initiatives. They are our only hope for the long run.

The lesson to be learned from the success of Farber is that truly private education is plausible and even preferable to the current education provided by the government.