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Socialist Calculation Debate

by Israel Kirzner on Aug 15, 2008

The socialist calculation debate asks whether central planners can efficiently distribute resources. Evidence proves that socialism will always fail.

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Austrian vs. Neoclassical Economics: Equilibrium

by Literature of Liberty Reviewer on Mar 1, 1981

“Neoclassical economics ignores the…market process in organizing information [to] facilitate individual decision-making and…subjective…welfare.”

encyclopedia

Kirzner, Israel M. (1930-)

by Brian Doherty on Aug 15, 2008

Israel M. Kirzner is a noted economist of the Austrian School known most for his work on the role of entrepreneur in the market.

encyclopedia

Economics, Austrian School of

by Peter J. Boettke on Aug 15, 2008

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.

Free Thoughts

The Austrian Tradition in Economics

featuring Peter J. Boettke, Trevor Burrus, and Aaron Ross Powell on Jun 1, 2015

Peter J. Boettke joins us to explain the origins and methodology of the Austrian tradition in economics.

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Editorial: Social Order & Economics

by Leonard P. Liggio on Jun 1, 1982

“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.”

encyclopedia

Entrepreneurship

by David Harper on Aug 15, 2008

Entrepreneurship, or the development of new products, methods, and means by individuals, is considered to be a compelling factor in economic growth as well.

encyclopedia

Competition

by Douglas MacKenzie on Aug 15, 2008

Competition between multiple firms fuels innovation, trade, and efficiency. For this reason, competition is an important part of a free market economy.