Calculation and Knowledge

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Menger the Empiricist

Calculation and KnowledgePhilosophy and Methodology


[Cross-posted at Organizations and Markets]

Austrian economists eschew empirical analysis in favor of deductive, a priori reasoning. They don't believe in...

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Minsky Having a Moment?

Booms and BustsMoney and BanksCalculation and KnowledgeMoney and Banking


The Wall Street Journal recently featured a lead article on economist Hyman Minsky: In Time of Tumult, Obscure Economist Gains Currency.

Minsky is increasingly cited by leading financial figures such as...

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Last Knight Word Cloud

Media and CultureCalculation and Knowledge


David Veksler, developer, made this really snappy word cloud of Mises: The Last Knight of Liberalism.

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Does the DoJ read

Free MarketsMedia and CultureCalculation and KnowledgeInterventionism


Probably not. However, the Justice Department weighed in on the net neutrality debate, stating in part:

The Department also noted that differentiating service levels and pricing is a common and often efficient...

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Knock it Off

Legal SystemCalculation and Knowledge


Jacob Sullum's excellent Reason column, The Knock Against Knockoffs, he discusses knockoffs of high-fashion, which are not currently subject to copyright. Surprise—designers are lobbying for copyright protection of...

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Thomas Friedman on Addicted to Oil

The EnvironmentCalculation and KnowledgeProduction Theory


I recently saw Thomas Friedman's "Addicted to Oil" documentary on YouTube. A few nits to pick. First, of course, he unquestioningly buys into the global warming hype as one of the reasons we need to "do something." Second...

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Entrepreneurship, Arbitrage, and Capital

Calculation and KnowledgeCapital and Interest TheoryEntrepreneurship


[Cross-posted at Organizations and Markets]

Over the years I'm increasingly convinced that Israel Kirzner's metaphor of entrepreneurship as costless discovery ...

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Thoughts on the Latecomer and Homesteading Ideas; or, why the very idea of "ownership" implies that only libertarian principles are justifiable

Calculation and KnowledgePhilosophy and MethodologyPolitical TheoryPrivate Property


The following is an edited version of my recent post on a libertarian discussion list. I've often noted how Hoppe's writings on libertarian ethics stress the importance of the "prior-later" distinction and the problems with the "latecomer" ethic. A few thoughts on...

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Why People Walk on Stairs and Sometimes Stand on Escalators

Calculation and KnowledgePhilosophy and Methodology


Here is the problem, according to Steven Landsburg:

Taking a step has a certain cost, in terms of energy expended. That cost is the same whether you're on the stairs or on the escalator. And taking a step has a certain benefit...

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