Carl Menger and the Sesquicentennial Founding of the Austrian School
With his Principles of Economics Carl Menger not only laid the foundation for the Austrian school itself but for its continuing development to this day.
Value and Exchange
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Covid-19 and the Socialist Calculation Problem
Just as central planners cannot know how individuals will value a product or service, so too are central planners unable to calculate or plan for the endless array of risk assessments made by potential victims of covid-19.
Subjective Value Is Not the Same as Arbitrary Value
Why do individuals pay much higher prices for some goods versus other goods? The answer requires understanding the law of diminishing marginal utility.
The Problem of Measuring the Utility Gained from Taxes
Interpersonal utility can't be measured. After all, if you can't measure a single person's utility, it makes no sense at all to measure one person's utility against that of another.
Inflation and the French Revolution: The Story of a Monetary Catastrophe
Monetary inflation helped bring on the Terror and set French progress back a generation.
Hayek’s Plan for Private Money
Hayek’s last proposal for monetary reform calls for privately issued, competing fiat currencies. It's debatable whether or not this is a good idea.
Hayek’s Plan for Private Money
Hayek’s last proposal for monetary reform calls for privately issued, competing fiat currencies. It's debatable whether or not this is a good idea.
Explaining John Nash’s Dissertation and Why Russell Crowe Got It Backwards
Bob shows how the movie "A Beautiful Mind" got game theory wrong.
Man, Economy, and State: Money & Its Purchasing Power with Robert Murphy
Dr. Robert Murphy joins Jeff Deist to breakdown Rothbard's exposition of money in an Austrian framework.
