Kirzner provides an overview of Austrian economics, highlighting the knowledge problem, spontaneous order and Hayek’s “fatal conceit.”
The socialist calculation debate asks whether central planners can efficiently distribute resources. Evidence proves that socialism will always fail.
Rizzo explains the basic principles of Austrian economics.
Richman describes the state of public education in modern America, and talks about how to use competition to fix it.
“Neoclassical economics ignores the…market process in organizing information [to] facilitate individual decision-making and…subjective…welfare.”
Israel M. Kirzner is a noted economist of the Austrian School known most for his work on the role of entrepreneur in the market.
Holcombe examines a variety of economic theories with regard to the link between entrepreneurship and economic progress.
Economists in the Austrian School approach their analysis by looking at human choices and behavior, and how human action by itself creates and regulates markets.
Peter J. Boettke joins us to explain the origins and methodology of the Austrian tradition in economics.
This audio course explores the contributions made to the understanding of liberty by the “Austrian” economists, mainly Ludwig von Mises and F. A. Hayek.
“I intend to study the whole problem of the market process. We Austrians say we have a better paradigm than the neoclassical economists.”
“There are many aspects of society (most of the interesting aspects) that can be understood and explained only through the use of invisible hand explanations.”
Entrepreneurship, or the development of new products, methods, and means by individuals, is considered to be a compelling factor in economic growth as well.
Competition between multiple firms fuels innovation, trade, and efficiency. For this reason, competition is an important part of a free market economy.