Austrian Economics Overview

All Austrian economists in my and subsequent generations owe Roger a debt of gratitude.

In this week’s Friday Philosophy, Dr. David Gordon honors the centennial of Murray Rothbard’s birth, recalling his memories of conversations and discussions with the man who was knowledgeable on a wide range of topics—and was never a boring companion.

Ludwig von Mises’s first major work was The Theory of Money and Credit in which he explained the role of money in the economy and also pointed out what causes the boom-bust cycle. It remains an important classic in Austrian economics.

Ludwig von Mises’s first major work was The Theory of Money and Credit in which he explained the role of money in the economy and also pointed out what causes the boom-bust cycle. It remains an important classic in Austrian economics.

Mainstream economics and finance theories hold that markets immediately adjust to new information. While market prices do reflect available information, the Efficient Market Hypothesis (EMH) fails to explain the boom-bust cycle as well as Austrian analysis.

A historic metals shakeout, a simple “stacking plan,” and a bigger question: how do you stay independent when the system punishes savers?

There is a reason why economic freedom also results in a better life for all, and Austrian economists know that better than anyone else.

Today, the term "Austrian economics" is used to designate two very different paradigms.

Entrepreneurs, prices, and profit-and-loss coordinate the division of labor that makes prosperity possible.

Mark Thornton shares an in-depth interview with Jeremy McKeown on the long rivalry between Austrian and Keynesian economics, and why Austrian ideas may be gaining new traction today.