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The Next Generation of Austrian Economics: Essays in Honor of Joseph T. Salerno
Publication
Author: Per Bylund David Howden
Online Publish Date:
The Next Generation of Austrian Economics: Essays in Honor Joseph T. Salerno is a celebratory volume honoring the work of a respected and beloved teacher. It signifies a flourishing career of significant achievement, and also the gratitude and well-wishes of his students. Dr. Salerno, longtime Professor of Economics at Pace University and Academic
What We Know and What We Don’t Know about the Firm
Publication
Author: Per Bylund
Online Publish Date:
Category: The Entrepreneur
Bylund, Per L., The Problem of Production: A New Theory of the Firm , Routledge Advances in Heterodox Economics (Book 27) (Routledge, 2016), chap. 1. [This is a chapter from The Problem of Production: A New Theory of the Firm .] This book is about what is generally referred to as the ‘firm’, a phenomenon in the market that appears obvious but
How to Think about the Economy: A Primer
Publication
Author: Per Bylund
Online Publish Date:
Bylund, Per, How to Think about the Economy: A Primer (Auburn, AL: Mises Institute, 2022). From the Preface ... This little book was written to accomplish something big: economic literacy. It is intentionally kept very short to be inviting rather than intimidating, as economics books typically are. If I managed to meet this bar, you, the reader,
Review: Classical Economic Theory and the Modern Economy
Quarterly Journal of Austrian Economics
Author: Per Bylund
Online Publish Date:
Category: Book Reviews, Economic Policy, Keynes
  Classical Economic Theory and the Modern Economy by Steven Kates Edward Elgar, 2020, 264 pp. Per Bylund (per.bylund@okstate.edu) is Associate Professor of Entrepreneurship and Records-Johnston Professor of Free Enterprise in the School of Entrepreneurship in the Spears School of Business at Oklahoma State University, a Fellow of the Mises
The Market Process Is Not a Knowledge Problem
Mises Wire
Author: Per Bylund
Online Publish Date:
Category: Calculation and Knowledge, Prices, Production Theory, Hayek
Friedrich Hayek’s essay “The Use of Knowledge in Society,” published in 1945 in the prestigious American Economic Review , is often hailed as an important contribution to economics. Rightly so, because it provides important “meat” to the price theory “skeleton.” However, Austrian economists often exaggerate its importance in ways that risk
Misunderstanding Mises, Again
Mises Wire
Author: Per Bylund
Online Publish Date:
Category: Praxeology, Socialism
In a recent blog post on the Marginal Revolution blog , Ludwig von Mises is categorized as an underrated thinker . That’s undoubtedly true, especially when considering his many groundbreaking contributions to economics. Mises was also one of the first to be named a distinguished fellow of the American Economic Association in 1969. His
In Defense of Migration
Power & Market
Author: Per Bylund
Online Publish Date:
Do people have a right to go wherever they want and for whatever reason they like? Certainly not. I have no right to use or occupy your rightful property without your permission. And the same applies for you and everyone with my property. Do people have a right to migrate to whatever part of the world they please? They certainly do. If they don’t
How to Think about Economic Theory
Mises Wire
Author: Per Bylund
Online Publish Date:
[Chapter 2 of Per Bylund’s new book How to Think about the Economy: A Primer .] Like other sciences and fields of study, economics is a body of theory. Theory is a collection of explanations that allows us to understand something. Economic theory allows us to understand how an economy works . It explains the workings of the economy as a whole so
How to Do Economics
Mises Wire
Author: Per Bylund
Online Publish Date:
[Chapter 3 of Per Bylund’s new book  How to Think about the Economy: A Primer .] Economics is often faulted for being “ideological”—for promoting free markets . This is a misunderstanding. The free market in economics is a model—an analytical tool. It excludes complicating circumstances and influences and allows us to study core economic phenomena
The Economy Is a Process, Not a Factory
Mises Wire
Author: Per Bylund
Online Publish Date:
Category: Austrian Economics Overview
[Chapter 4 of Per Bylund’s new book  How to Think about the Economy: A Primer .] To help us understand what is going on in the economy, what is important is not the types and number of goods that sit on store shelves. It is why and how they got there. To answer this question is not simply a matter of pointing out that they arrived by truck last