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Why Friedman Misunderstood Physics and Mises Was Right about Economics

Milton Friedman published in 1966 an essay, which arguably, combined with Keynes’ General Theory were the two pieces of literature most responsible for shunting economics on to the wrong track, to use the same expression William Stanley Jevons used to describe the influence of David Ricardo on the science’s development. FA Hayek once said he [...]

How I became an “Austrian” Economist

Economics is a little understood
branch of knowledge, and despite its ongoing relevance to our
everyday lives; is still relegated as a subject that must be left to
the specialists. This writer’s opinion is that modern man could
scarcely make a greater error. The present bust of our most recent
worldwide business cycle, [...]