austrian economics

Fifty years ago, in 1968, Austrian (and Austrian school) economist Friedrich A. Hayek published a monograph called The Confusion of Language in Political Thought.

One day in 1927 Austrian economist, Ludwig von Mises, stood at the window of his office at the Vienna Chamber of Commerce, and said “Maybe grass will grow there, because our civilization will end.”

Austrian school economist Edmund Contoski has written a welcome addition to his 2012 explanation of the inevitable consequences of forcing fiat money on society.

Mises’s ‘Human Action’ is considered brilliant, teaching the deepest truths about economic science to enlist the public in the defense of a free society. But Murphy distills its length and depth to eliminate the intimidation to many readers.

Almost everyone outside the world of the Austrian School of Economics unquestionably assumes that the regulation of so-called “natural monopoly utilities” is both fair and necessary as well as efficient and effective. This is — to borrow a buzz word from the Left — “unsustainable,” in both theory and practice.

Forty years ago, during the week of June 15-22, 1974, the Austrian School of Economics was reborn during a conference in the small New England town of South Royalton, Vermont. Why was this important? Because the economists of the Austrian School have developed the most persuasive understanding of why only economic freedom can give mankind both liberty and prosperity.

A truly free market economy is one that tends to have the “good deflation,” and we should look forward to it.

In light of the recent “national” strike conducted by 0.09% of fast food workers in the US, many op-eds and commentaries have been penned by economists trying to justify the…

Some folks at The Heartland Institute’s home office thought my little email exchange about Keynesian vs. Austrian economics, the Federal Reserve, etc., with Dick Ewing of Winthrop, Wash., worth publishing…