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History of the Austrian School of Economics
Austrian-school economics is value-free and is not necessarily in favor of laissez-faire. But the Austrian view of markets and market power tends to push one in the laissez-faire direction.
Austrian Economics OverviewOther Schools of ThoughtValue and Exchange
What makes a good a good is not the physical thing itself, but the value we find in it because it is serviceable toward some valued end.
When entrepreneurs create profit, we know they are using resources in a way that benefit others. When entrepreneurs causes losses, they are destroying wealth.
Allowing a space on the ballot for "none of the above" would be a step in the right direction toward a slightly less farcical political system.
The given explanations for "implied consent" to government rule would never pass muster if applied to any private-sector organization.
Decentralization and SecessionU.S. History
If we grant that Indian tribes ought to be able to restrict membership (i.e., naturalization) for their own groups, on what principle can this be denied to other groups?
Labor and Wages
Workers get paid now, but the capitalists only get paid if there is a profit. This is why workers aren't paid 100 percent of the value of their output. For them, there is far less risk than for the capitalist.
BiographiesHistory of the Austrian School of Economics
In the midst of moral and intellectual decay, Roepke was an inflexible harbinger of the return to reason, honesty and sound political practice.