Philosophy and Methodology

Statistics can be interesting and informative, but only if one can properly understand them through sound economic theory.

The beauty of Austrian economics is that it springs from real human action and does not depend upon the construction of abstract mathematical models meant to parallel reality.

Murray Rothbard’s economic perspective changed significantly in 1949 when he met Ludwig von Mises and read his magnum opus, Human Action. 

Egalitarians mock Adam Smith's invisible hand as free-market superstition, then explain every billionaire with an invisible hand of their own. Joshua Mawhorter on the luck argument for redistribution.

Build a model no real market could ever match, call it the ideal, then diagnose every real market as a failure for falling short. Jonathan Newman on the equilibrium trap Mises warned against.

Dr. Wanjiru Njoya argues that private property is the indispensable cornerstone of liberty and civilization, and that anti-discrimination laws—however well-intentioned—are a form of aggression against property.

We assume people are self-interested in the market and selfless in government. Tate Fegley on why dropping that double standard explains almost everything about how the state actually behaves.

Marx said your logic depends on your class. The Nazis said it depends on your race. Mises had a name for that idea, and an answer to it. Wanjiru Njoya applies it to how we argue about race today.

Why is water nearly free while diamonds cost millions, when you'd die in three days without one and never miss the other? In 1871, Carl Menger finally solved it.

Joshua Mawhorter reviews Dr. Shawn Ritenour’s Foundations of Economics: A Christian View.