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- Austrian Economics Overview
- Calculation and Knowledge
- Philosophy and Methodology
Media Asset
Author:
Joseph T. Salerno
Online Publish Date:
The debate still continues. It is all about Mises’ initial article and then book on Socialism in 1922. He demonstrated the necessity of the price system and showed how subjective values were transformed into objective prices which could be used as meaningful cardinal numbers in economic calculation. One big cartel that owns everything would be
Media Asset
Author:
Murray N. Rothbard
Online Publish Date:
Austrian economics has nothing to do with the economics of Austria. Austrian Economics (AE) began with Carl Menger in 1871. It is based on an analysis of individual action, not aggregates or groups. Economics predated Adam Smith. The British classical economics school could not solve the value paradox. It also embraced the labor theory of value.
Media Asset
Author:
Ludwig von Mises
Online Publish Date:
Human beings are collaborators with each other. Socialism is one kind of cooperation of people. One thing determines the socialist organization. It is the lack of freedom and the complete obedience to a Fuehrer (leader). Not surprisingly, everyone considers themselves to be part of the ruling group, forcing others to submit. But, the system of