Unlike what is commonly believed, economics is not about money, or profit, or investments, or capitalism, or wages, or unemployment or stocks and bonds or about any other buzzword you may have heard or read in the media. Yes, economics does study
Epistemology 
Generation Why
I probably loathe the American compulsory education system more than anyone I’ve ever met. I despise it on deeply personal level, on an ethical level, and from an efficacy standpoint. I despise the people involved; the administrators, the so-called teachers,
An Austrian Indifference Curve vs. The Value Scale
From the introductory undergraduate to the advanced Ph.D. courses in economics, students are taught that the concept of the indifference curve is very useful in analyzing human choice. I am emphasizing the term useful for a reason. No one ever
Mark Carney’s False Ideology
Neil Macdonald of the CBC recently did an investigative piece on central bankers and what they’re doing to the world’s economies. Mark Carney was featured heavily. He told Macdonald, “there is no secret cabal orchestrating things,” despite CBC’s own findings
Debt, Growth, and the Illusions of Social Scientism
For all the politicians and economists who have been doggedly nonchalant about escalating levels of public debt, this was a good week. Making their week was the revelation that the statistical calculations in an influential paper were off. It is
Liberty Is A State of Being
Sadhguru Vasudev cautions those that want to change the world to first rid their own hearts of fear and pain, before embarking to change the way others live — otherwise one will only transcribe one’s own darkness upon the world
The Incoherence of “National Interest”
Following politics where I live is like riding a rollercoaster ad nauseam. If you’re from Balkans too or have ever heard the rhetoric of a Balkan politician, you could have not possibly escaped the use of the word “national interest.â€
What the Nazis Borrowed from Marx
Reprinted from Mises.org [Omnipotent Government (1944)] The Nazis did not invent polylogism. They only developed their own brand. Until the middle of the 19th century no one ventured to dispute the fact that the logical structure of mind is unchangeable
Austrian AV Club – Stephan Kinsella
Redmond is the director of the Ludwig von Mises Institute of Canada.
Human Ignorance and Social Engineering
Spontaneous order and the inadequacy of human knowledge. Throughout most of intellectual history, society has been considered to be the result of someone’s design. In his multi-volume Law, Legislation, and Liberty, the social theorist F. A. Hayek referred to this position as “constructivist rationalismâ€
San Fran Fed Finds Problem with Econometric Multipliers
Despite the obvious bias which engulfs the incestual working relationship between the Federal Reserve System, the U.S. financial sector, and the U.S. government, occasionally some grains of truth trickle out from these Ministries of Truth. In a new report by
The Mantle of Science
[Originally published in Scientism and Values, Helmut Schoeck and James W. Wiggins, eds. (Princeton, N.J.: D. Van Nostrand), 1960, pp.159-180; The Logic of Action One: Method, Money, and the Austrian School (Cheltenham UK: Edward Elgar, 1997), pp. 3-23. Also available
Math is Futile in Studying the Human Things
With the recent announcement of the Nobel prize winners for economics, Thomas Sargent and Christopher Sims, the blogosphere has been filled with discussions about the significance of their contributions. A notable feature of their work is econometric modeling of macroeconomic
What the Prediction Markets are Predicting
Predictions always abound, but these days they are utterly ubiquitous — Greece is going to default, the Euro is going to implode, the US is heading into recession, President Obama is going to be a one-term President. What exactly are
Some Advantages of Austrian Economics in the Defence of Markets
What are the potential benefits in being familiar with Austrian economics? This is the question that I hope to at least partially answer here. I study economics at the Department of Food, Agricultural and Resource Economics at the University of
Myth Busting in Kosovo
Kosovo is Europe’s newest country after declaring independence from Serbia in 2008. It is at the same time Europe’s poorest country—with unemployment approaching a staggering 49% and around 30% of the population living below the “poverty line.†However, as bad
Does Ayn Rand and her Objectivist philosophy support Austrian economics, libertarianism and Anarcho-capitalism? NO!
In response to an earlier post, Redmond wrote: Say what you will about Rand – many people who I have met who are interested in the Austrian School came to it through Ayn Rand. And they are young enough that
Subjective Value versus Positivism: An Application of Methodological Issues to the Fukushima Nuclear Disaster
“It is universally deemed one of the tasks of legislation and government to protect the individual from himself.†–Ludwig von Mises, Liberalism: The Classical Tradition, p. 30 The nuclear disaster in Fukushima, Japan, has become one news topic that my
Action Aversion
If I just straight out told you that there is a model within the conventional economic theory that implies most of us would prefer a world in which we would not be acting humans, you would probably tell me that
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