Austrian Economics Overview

What is a business cycle?

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

Time is an irreversible flux. Each moment has a unique place in the sequence of moments of time with respect to action.

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.

Less and less and less?

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

Presented at Mises University 2022.

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."