Economics

Austrian Economics & Public Policy

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The following is the introduction to FFF’s newest ebook, Austrian Economics & Public Policy: Restoring Freedom and Prosperity by Richard Ebeling. (But it on Amazon for $4.99.) The ebook is being launched in conjunction with a new 9-part video series entitled An Introduction to Austrian Economics by Richard Ebeling. Watch part 1 [click for more]

Praxeology and Hostile Action

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Praxeology according to Mises Ludwig von Mises saw praxeology — “the general theory of human action” — as the foundation of proper economic reasoning. Starting from the self-evident fact that men “act” so as to substitute more satisfactory states of affairs for those now existing, he believed he could build the basic toolkit of economic science by working deductively from ... [click for more]

Wilhelm Röpke: The Economist Who Stood Up to Hitler

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Sometimes there are men of principle who live their values and not merely speak or write about them. People who stand up to political evil at their own risk, and then go on to say and do things that help to remake their country in the aftermath of war and destruction. One such individual was the German, free-market economist, ... [click for more]

The Economist Who Saw the Future

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Hans Sennholz (1922–2007) was a professor of economics and a student of Ludwig von Mises while at NYU. He was an intrepid critic of government deficits: If we cannot return to fiscal integrity because the public prefers prodigality over balanced budgets, we cannot escape paying the price, which is ever lower incomes and standards of living for all. The pains ... [click for more]

Carl Menger and the Foundations of Austrian Economics

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Today is Austrian economist, Carl Menger’s, birthday. Born on February 23, 1840, he died on February 26, 1921, at the age of 81. Menger is most well known as one of the first formulators of the theory of marginal utility, separately though in published form almost simultaneously, with William Stanley Jevons and Leon Walras in the early 1870s. But ... [click for more]

The Follies and Fallacies of Keynesian Economics

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Eighty years ago, on February 4, 1936, one of the most influential books of the last one hundred years was published, British economist, John Maynard Keynes’s The General Theory of Employment, Interest and Money. With it was born what has become known as Keynesian Economics. Within less than a decade after its appearance, the ideas in The General Theory ... [click for more]
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