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Bureaucracy and RegulationFree MarketsEntrepreneurshipValue and Exchange
Calls for finding efficiencies in government by electing or appointing people to “run it like a business” are futile.
The EntrepreneurLabor and WagesProtectionism and Free TradeValue and Exchange
Business owners understand that the key to prosperity is to reduce costs and deliver more goods to the customer. Wage workers, however, often want higher prices in order to "protect" their jobs.
Labor and WagesValue and Exchange
There is only one way that leads to an improvement of the standard of living for the wage-earning masses: an increase in the amount of capital invested.
Value and Exchange
Despite its great appeal because of its simplicity, the supply-demand graphic as employed by mainstream economics is a tool that is detached from the facts of reality.
Labor and WagesPolitical TheoryValue and Exchange
The division of labor is what made the West rich and has kept it rich. It's telling that Marx planned to abolish the division of labor altogether.
SubjectivismValue and Exchange
The prices of goods are not set mechanically by some kind of supply-demand curves but by the goal-seeking choices of individuals.
Bureaucracy and RegulationPrivate PropertyValue and Exchange
Workplace raids against employers of non-government-approved workers make a mockery of private property rights.
Monopoly and CompetitionValue and Exchange
As Mises knew, economics "concerns everyone and belongs to all" — and this definitely includes business owners.
Austrian Economics OverviewPricesValue and Exchange
The purpose of economic science is not to resolve all social problems, nor does it have appropriate tools for this.
Thanks to markets, our unchanging desires are being satisfied more and more effectively over time.