It is now commonplace for governments to measure economic prosperity with GDP metrics. Numerous arbitrary rules and faulty assumptions behind these measures, however, skew our view of how economies grow and living standards improve.
Hoppe explains three of the most momentous events in the history of mankind: the Neolithic Revolution, the Industrial Revolution, and the origin and development of the State.
When Mother Teresa used her Nobel Prize money to fund services for the poor, she was exhibiting “self-interest,” but not selfishness.
When Mother Teresa used her Nobel Prize money to fund services for the poor, she was exhibiting "self-interest," but not selfishness. Like virtually everyone else, she used her property to achieve an end she valued, but which benefited others as well.
In this interview for The Austrian, economics teacher Aaron Ensley discusses the role of economics education at the secondary level and the importance of Austrian economics to teaching economics on a more relevant and practical level.
The term hermeneutics in this piece refers to the study of interpretation—of texts first of all and by extension of human action.
Boyes shares the perspective on someone who was once a Keynesian in mainstream academia, but who is now a dedicated Austrian.
Gustave de Molinari learned of “the destructive apparatus of the civilized State” from the French Revolution, “naively undertaken to establish a regime of liberty and prosperity for the benefit of humanity, end[ing]…in an increase in the servitude and burdens.”
