Philosophy and Methodology

Displaying 1 - 10 of 2191

The Making of Modern Civilization: Savings, Investment, and Economic Calculation

Capital and Interest TheoryPhilosophy and MethodologyPrivate Property

Blog04/17/2019

The fallacy that labor-saving machines create technological unemployment has not only been disproved by theory but also by the whole history of mankind.

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Why the New "GDP-B" Measure Doesn't Solve the Failures of GDP

Other Schools of ThoughtPhilosophy and Methodology

Blog04/16/2019

The thinking goes that MIT's new GDP-B measure allows the statistician to estimate a “consumer surplus.”

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Even Socialists Know that Economic Planning Requires Market Prices

SocialismCalculation and KnowledgePhilosophy and Methodology

Blog04/03/2019

Hard-left "democratic socialists" think they figured out how to make government planning possible: use prices. But there's a problem in their argument: prices are impossible without markets.

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What Most Critics of "Markets" Get Wrong about Entrepreneurs

Free MarketsEntrepreneurshipPhilosophy and Methodology

Blog03/28/2019

Thanks to entrepreneurs, markets are dynamic and constantly expanding. Attempts by governments to manage prices through the bureaucracy are sure to hinder this dynamism and drive to serve customers.

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Ludwig von Mises on the Difference Between Entrepreneurs and Managers

The EntrepreneurPhilosophy and MethodologyValue and Exchange

Blog02/28/2019

When Mises noted that a manager is a "junior partner" of the entrepreneur, he did not mean to downplay the role of management in the economy.

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The Case for Legalizing Blackmail

Legal SystemPhilosophy and Methodology

Blog02/21/2019

The recent controversy over Jeff Bezos has spawned an interesting debate among free-market economists on whether blackmail should be legalized.

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Lange, Mises and Praxeology: The Retreat from Marxism

History of the Austrian School of EconomicsOther Schools of ThoughtPhilosophy and Methodology

Blog02/19/2019

Oskar Lange was a Marxist economist and intellectual opponent of Mises. Late in his career, he sought to merge praxeology and Marxism. 

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Why the "Golden Rule" Is an Obstacle to the Government's Agenda

Big GovernmentPhilosophy and Methodology

Blog02/18/2019

All too often, many want governments to do things to others we wouldn't want to have done to us.

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The Ethics of Capitalism

From the ArchivesLegal SystemPhilosophy and Methodology

Blog02/14/2019

There is no justification for any lawful entrepreneur to feel any sense of guilt in appropriating the results of his or her creative activity.

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Why Austrian Economics Is More Reality-Based than the Neoclassical Approach

Austrian Economics OverviewHistory of the Austrian School of EconomicsPhilosophy and Methodology

Blog02/02/2019

A sober look at the assumptions underlying neoclassical analysis reveals that they are either not realistic or not applicable in economic analyses of the real world.

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