Subjectivism

While most economists admit that value is subjective, they still err by concentrating on scarcity and choice instead of purposeful action by individuals.

Even something that seems as objective as software development falls under the Austrian view of subjective utility.

Subjective valuation, which is at the heart of Austrian economic thinking, is not the same thing as someone's opinion.

While most economists admit that value is subjective, they still err by concentrating on scarcity and choice instead of purposeful action by individuals.

Menger discovered much more than the principle of marginal utility—he created an entire system of economics based on subjective value and individual choice.

This concept of economic calculation is really the foundation of all economic theory, and price theory is the cornerstone of economic calculation.

The starting point for the development of all economic theory is “human action is purposeful behavior.” The following reading is chapter 4 from An Introduction to Austrian Economics by Thomas C. Taylor.

Bud Light executives thought customers wanted the beer to partner with a "transgender" celebrity. Or executives simply didn't care what customers thought. In any case, executives are now paying the price. 

Modern Western culture is dominated by demands for "social justice." But how does one even define this term, and does social justice even produce justice in the end?

The latest from the world of social media is the role of "influencers." There is a perfectly good economic explanation for their popularity.