Key among the basic concepts of Austrian economics (a term that Mises rarely used; he preferred just “economics” or more broadly, “praxeology”) is the concept of methodological individualism. This has been the most important of Mises’ basic conce …
In command economies, you get what you get and you hope that it fits.
When and to the extent that trade and markets are free, Americans benefit from innovation no matter where it occurs.
The process of economic change is about how economic actors invest to alleviate the constraints they face by reducing transaction costs in order to grow richer.
Leave aside every other problem of socialism (such as how it can rationally manage an economic process or achieve perfect material equality), and you are still left with the massive problem of power.
The legend of the twenty-something business wunderkind is everywhere in pop culture. Here’s the problem. The data are in. It turns out that the whole thing is a gigantic myth.
Core retail sales were weak in October adding to concern about the economy. However, continued economic expansion remains the most likely path.
A central plan is not a business plan. Even a private sector central plan is doomed to fail.
AIER’s Leading Indicators index held steady in October, remaining slightly above neutral. Slow growth continues as economy remains vulnerable.
When debating tax policy it is important to use empirical evidence to inform the discussion of what rates the top earners currently pay and what rates we would like them to pay, or if a rate change is even warranted at all.
American businesses plainly see in China what the chattering classes don’t.