Austrian Economics Overview / Joseph T. Salerno

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2. Exchange and Demand

Austrian Economics OverviewValue and Exchange

All action is exchange, even forced exchange like slavery, taxes, eminent domain and conscription, where only one party gains. The Law of Marginal Utility tells us how many exchanges will be made.
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1. Scarcity, Choice, and Value

Austrian Economics OverviewValue and Exchange

The causal realist approach began with Carl Menger, but diminished in the 1920s. Keynesianism took over with mathematics by the 1950s. Economics was definitely on the wrong track. Salerno explores the causal realist approach which Austrians embrace.
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Mises y Hayek diferenciados

BiographiesThe EntrepreneurAustrian Economics OverviewCalculation and KnowledgeEntrepreneurshipPhilosophy and Methodology

07/20/2005Review of Austrian Economics, Volumes 1-10
Hoy, el término "economía austriaca" se utiliza para designar dos paradigmas muy diferentes.


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An Interview with Fritz Machlup

BiographiesAustrian Economics Overview

07/20/2005Austrian Economics Newsletter
Austrian Economics Newsletter , Vol 3, No. 1, Summer 1980. Fritz Machlup's contributions to economics span a period of over 45 years. Born in 1902 in Wiener Neusstadt, Austria, he published his first book Die Goldkernwahrung (The Gold Exchange Standard) in 1925, the outgrowth of a dissertation...
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10. The Gold Standard in Theory and Myth

Money and BanksAustrian Economics OverviewGold StandardMoney and Banking

The mythology of gold really grew up with Keynes and the quantity theory. Here are six of those myths: the gold standard is unable to accommodate the needs of an growing economy; the quantity of money is arbitrarily determined; the gold standard is a government price fixing scheme; the gold...
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8. The Debate on the Socialist Calculation Debate

Austrian Economics OverviewCalculation and KnowledgeOther Schools of ThoughtPhilosophy and Methodology

The debate still continues. It is all about Mises’ initial article and then book on Socialism in 1922. He demonstrated the necessity of the price system and showed how subjective values were transformed into objective prices which could be used as meaningful cardinal numbers in economic calculation.
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