Austrian Economics Overview / Joseph T. Salerno

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11. The Function of Profits

Money and BanksAustrian Economics Overview

Leading Austrian Economists discuss Henry Hazlitt's classic book Economics in One Lesson . Interview 11 of 12.
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Money and Its Purchasing Power

Money and BanksAustrian Economics OverviewValue and Exchange

This completes the study of money and of the effects of changes in monetary relations on the economic system. Like all commodities, money has its own supply and demand and price - purchasing power. Everyone deals in money.
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Production: The Structure

Austrian Economics OverviewProduction Theory

The mental constructs of the evenly rotating economy and of specific factors of production are discussed. Distinguishing between interest and profits and a construct of slow change are revealed through the ERE as Rothbard considers the final state of rest.The ERE construct is simply a useful,...
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Direct Exchange

Austrian Economics OverviewValue and Exchange

Exchange is the foundation of the division of labor. Each party to an exchange must expect greater psychic benefit than what he is giving up. Thus, trades are not equal, they are win-win activities. Property and ownership are value-free and a pre-condition of a free market.
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Why a Socialist Economy is "Impossible"

Austrian Economics OverviewCalculation and KnowledgeOther Schools of Thought

This is the Posts cript to Economic Calculation in the Socialist Commonwealth (pp. 51-71) by Ludwig von Mises. Narrated by Gennady Stolyarov II.
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Introduction to Man, Economy, and State

Austrian Economics OverviewPhilosophy and Methodology

The publication in 1962 of Rothbard's magnum opus rescued economic science from self-destruction. Menger's causal-realist approach had been nearly buried by the Keynesian Revolution. Keynesian macroeconomics denied the efficacy of the price system altogether in coordinating the various sectors of...
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What is a Causal-Realist Approach?

Austrian Economics Overview

10/08/2007Mises Daily Articles
The course that we will be giving is what you would have gotten in contemporary colleges and universities had this tragic diversion not occurred.
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A Fairy Tale of the Austrian Movement

Media and CultureAustrian Economics OverviewValue and Exchange

09/25/2007Mises Daily Articles
That Doherty has been badly misled by his credulity and by his investigative and interpretive derelictions is substantiated in an oddly telling review of his book by Fink protégé Tyler Cowen who, according to Doherty (2007, p. 579), "arose from the George Mason University, Koch-funded, Austrian...
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