By Jorg Guido Hulsmann
Today the ideas that Mises had painstakingly refuted have run their course. Inflationism, socialism, and statism have spelled misery, corruption, and chaos. Reading Mises enables us to understand this world, and it helps us to see the road that leads out of these quagmires.
By Murray Rothbard
Praxeology is the distinctive methodology of the Austrian School. Praxeology rests on the fundamental axiom that individual human beings act, that is, on the primordial fact that individuals engage in conscious actions toward chosen goals.
By Finbar Feehan-Fitzgerald
Modern Somalia is a real-life example of concurrent currencies circulating alongside one another. This was Friedrich Hayek’s ideal monetary system. The collapse of Mohamed Siad Barre’s Democratic Republic of Somalia in 1991 gave us the unique opportunity to observe concurrent currencies absent any legal restrictions in practice.
By Loane Sharp
Labour unions like to measure labour productivity by looking at total output per worker in the economy. However, total output per worker has only increased as much as it has over the past fifty years because capitalists have invested in more and better tools that workers can use to be more productive. Therefore, by looking at total output per worker, labour unions are skewing the productivity of labour grossly in their favour when it comes to wage negotiations.
by Klaus Bernpaintner
As the South African and American governments roll out their public healthcare systems, it is good to consider the truth about socialised medical care in Sweden. This article is a must-read for all South Africans.