The Austrian school of economics is a school of economic thought that emphasizes the importance of individual human action and free markets in economic decision-making. It has its origins in late 19th ...

Detroit's bankruptcy presents an opportunity to transform itself from an example of municipal failure into a symbol of restoration and source of economic dynamism. Here is an “Austrian moment” in the ...

The Austrian school of economics is appreciated by many free market advocates, but it’s really an approach to economics rather than a set of conclusions. Many of the insights from Austrian economics ...

Over 50 years ago, economist William Baumol noted that economics was a theory of the economy that left no place for entrepreneurship. Economic models, simply put, were “entrepreneur-less.” Economics ...

As always the best way to explain anything is with a story - and in this case a true story. Forest fires are a major concern in many parts of the U.S., upsetting lumber companies who saw profits burn ...

Greg “PrestoPundit” Ransom e-mails, with regard to my parsing of the views on recessions of Paul Krugman and Tyler Cowen, which contained a very brief discussion of Austrian business cycle theory: ...

Austrian Economists are harsh critics of government central banks (such as the Federal Reserve System of the United States – a name intended to obscure its role as a central bank, unlike the Bank of ...

There’s a lockdown on the Wikipedia page for Austrian economics and wouldn’t you know it, one or way or another, it all seems to be Paul Krugman’s fault. Broadly speaking, Austrian economics, for ...