Austrian Economics Overview

Many “mainstream” economists are bothered by the popularity of economically-flawed policy proposals like tariffs and price controls. It’s their own fault.

Keynesians are known for using obscure and jumbled jargon to explain their fallacious ideas. The hope being that, the more confusing the language, the greater the perceived scholarship. Good economics can and should be clearly logically explained.

Marx built his infamous labor theory of value on the premise that labor itself was a commodity. However, as Mises and other Austrians have noted, Marx failed both at understanding the complexity of labor and subjective value theories.

Keynesians are known for using obscure and jumbled jargon to explain their fallacious ideas. The hope being that, the more confusing the language, the greater the perceived scholarship. Good economics can and should be clearly logically explained.

The phrase, old school economics, is often used approvingly by many, but it's rarely explained. What is it?

It should be clear from the articles in this book that the Austrian School is thriving. Per Bylund has rendered a great service in bringing the scholarship in A Modern Guide to Austrian Economics to our attention.

Austrian economists love economic inequality.

Players, strategies, and outcomes.

The application of Austrian economics to the study of games, video games, and virtual worlds.