Monthly Archives: August 2012

Understanding The Gold Standard

I’m currently writing up an article series entitled Gold Standard 101: What You Need To Know About The Gold Standard. It’s a basic overview of how a gold standard works, and includes a discussion on the nature of money and real bills. Note that this isn’t just typical Austrian analysis — it’s influenced more by the New Austrian school than the American Austrian school. The first article in the series is entitled What Is Money? Enjoy!

Why We Should End The Government Money Monopoly

The following article on currency competition was written by Leah Stiles, a student of government and history at Regent University. She has completed a Koch leadership program and an internship with the Foundation for Economic Education. _________________________________  Millennia ago, the first men to construct homes out of mud and reeds could never have foreseen coming, towering skyscrapers of glistening steel and glass. Similarly, bygone farmers trading eight chickens for one pig could never have predicted that, one distant day, humans would

Austrian Economics in Real Life

By Jason Hughey, Capitalism Institute staff writer ______________________________________ As I noted in my last article, Austrian economics begins with the axiom of human action.  From this, it derives its analytical approach of methodological action.  When applied to the actual study of economics, this means that Austrians like to get at the root of the matter by understanding the impact of economic phenomena upon the individual and the impact that the individual has on economic phenomena. In this article, I will present some

The 5 Basic Principles of Austrian Economics

What is the Austrian School of economics?  If you’re even slightly familiar with this school, you’ve probably heard of economists such as Hayek and Mises.  If you’ve done more than cursory research, you’ve also probably come across some thoughts by Murray Rothbard, Israel Kirzner, and Carl Menger.  You might be aware of some interesting insights into the Austrian theory of the business cycle, the study of human action, the concept of “deciding at the margin,” Austrian theories of banking, or

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