Austrian Economics Overview

Government attempts to limit “monopoly power” cannot improve well-being.

In 1920, Ludwig von Mises destroyed the intellectual foundations of the case for socialist central planning.

There is no clear basis in economics, ethics, efficiency, or fairness for Minimum Wage Laws.

What is a business cycle?

Menger discovered much more than the principle of marginal utility—he created an entire system of economics based on subjective value and individual choice.

"The free market and the division of labor does not promote hyper-atomized individuals. It creates social harmony and community."

This concept of economic calculation is really the foundation of all economic theory, and price theory is the cornerstone of economic calculation.

"We would not expect money to be paper, national, or under the control of any entity."

Praxeology is the method of economics.

Entrepreneurship is a general feature of the market economy.