A concise definition of Austrian Economics

I’ve copied these 10 points from Steve Horwitz’s valuable post on this subject. They succinctly define the tenets of Austrian economics. Only individuals choose. The study of the market order is fundamentally about exchange behavior and the institutions within which exchanges take place. The “facts” of the social sciences are what people believe and think.…More

My economic critique of “net neutrality” from a high-level, Austrian perspective

Though the motives of net neutrality advocates differ, the most common motive seems to be a general belief that internet service providers (ISPs) face no serious competition, and therefore overcharge customers and generally treat customers poorly. In other words, ISPs have “natural monopolies” that allow them to rake in profits without improving service to customers…More

Quote of the Day: Mises

From the introduction of Ludwig von Mises’ Human Action. “It is true that economics is a theoretical science and as such abstains from any judgment of value. It is not its task to tell people what ends they should aim at. It is a science of the means to be applied for the attainment of ends…More