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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.
Bureaucracy and Regulation
In a city with rapidly rising housing needs, there is really only one way to keep housing prices stable or falling: produce a lot of housing.
Money and Banks
To cause a truly disastrous boom and bust with far-fetching real consequences, you need to control the money supply.
The EntrepreneurFree MarketsOther Schools of Thought
Population growth and specialization are not enough to make economies grow. The key ingredient is entrepreneurship.
Other Schools of ThoughtPhilosophy and MethodologyPrices
Dressing up the history of the world, and its economic development, in terms of transaction costs is mostly not very helpful.
Global EconomyProtectionism and Free Trade
For Ludwig von Mises, international bureaucracies like the WTO devoted to enforcing "free trade" are not progress. They're simply another type of government planning.
EntrepreneurshipOther Schools of ThoughtPhilosophy and Methodology
Efficiency is backward-looking and static, while value creation is future-oriented and aspirational.
Austrian Economics OverviewSubjectivismValue and Exchange
The concept of economic cost seems to confuse people. It is not the price you pay for a good, but the reason you pay it.