Keynesian Economists Ignore Say’s Law. We’re Paying the Price.
By advocating an increased monetary role for the state, Keynes has made the credit cycle considerably worse and more destabilising.
Philosophy and Methodology
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Hayek Was Right, Keynes Was Not An Economist
The General Theory is not a book explaining economics to his followers at all, but a propaganda tool to lead them to his vision of a non-Marxist socialist nirvana.
The End of Marxian Exploitation Theory
Even Marx was forced to admit that workers were not being paid at subsistence levels, and that capitalism led to a rising standard of living for workers. So in order to save his theory, he redefined the concept of subsistence.
Why Transaction Cost Analysis is Attractive, and Very Flawed
Dressing up the history of the world, and its economic development, in terms of transaction costs is mostly not very helpful.
Wage Earners and Employers
The characteristic principle of capitalism is that it is mass production to supply the masses. Big business serves the many.
Intellectual Cover for Socialism
But how can anyone deny that the East German or Russian experience is decisive evidence against socialism? The answer lies in creating a arcane theories that make socialism sound reasonable.
You May Be Biased — But That Doesn’t Make You Wrong
Yes, many researchers are biased. But as Mises noted: "Reference to a thinker's bias is no substitute for a refutation of his doctrines by tenable arguments."
Economics: Vocation or Profession?
The vocational economist is dedicated to a body of ideas — not merely money, fame, or power — and strives to master the system of economic theory as handed down by the great system builders and innovators of the past.
