Production Theory

Fiscal policy means simply that the government steals the public’s assets (taxes them), and then either spends the money itself  or donates the funds to others 

The classic definition of the State involves two elements: a coercive monopolization of defense services over a given geographic area, and the impo

The authors’ proposed solutions are interesting but ultimately disappointing. Laudably, they do call for what they believe to be the privatization of urban transit. 

Muetze Hellmer is a former student of mine at Loyola University New Orleans.

What sets Austrians apart from mainstream economists is methodology and consequent analyses. The first section contains an analysis of their methods, which are found wanting. 

Most of the economists of the Austrian School use straightforward representations of the Hayekian structure of production. Even though these depictions are helpful in order to visualize 

Mises created an artificial construct, the evenly rotating economy (ERE), from which to ascertain the source of entrepreneurial profit and loss. In particular, the ERE is characterized by two distinct elements. 

In his Man, Economy, and State, Murray Rothbard introduces the catallactic function of decision-making owner, and the  correspondent income of decision-making ability rent. 

This essay presents a conceptual and moral rather than an economic analysis of “baby-selling.” Its purpose is to address certain fundam

Among the most popular and consequential beliefs of our age is the belief in collective security.