Over 50 years ago, economist William Baumol noted that economics was a theory of the economy that left no place for entrepreneurship. Economic models, simply put, were “entrepreneur-less.” Economics ...
Greg “PrestoPundit” Ransom e-mails, with regard to my parsing of the views on recessions of Paul Krugman and Tyler Cowen, which contained a very brief discussion of Austrian business cycle theory: ...
The Austrian school of economics is a school of economic thought that emphasizes the importance of individual human action and free markets in economic decision-making. It has its origins in late 19th ...
What Is the Austrian School? The Austrian school is an economic school of thought that originated in Vienna during the late 19th century with the works of Carl Menger, an economist who lived from 1840 ...
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