Austrian Economics Overview / Joseph T. Salerno

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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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Biography of Gottfried Haberler (1901-1995)

BiographiesAustrian Economics Overview

08/01/2007Articles of Interest
Gottfried Haberler was one of the first economists to make a case for the productivity of free trade in terms of the modern subjective theory of value.
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