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Greetings, So I'm having a debate with one of my friends vis-a-vis the subject of a planned economy. He asserts a centrally-planned economy, such as a communist/socialist one is superior to a "evil, depraved free-market system." I naturally disagree and we have been arguing this for some...
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I have a friend who doesn't have the knowledge yet to answer this guy and I can't really check it over for another few hours, although I'm sure it's full of fallacies, false dichotomies and unsupported assertions - I find that non-Austrians are generally devoid of the ability to think...
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In order to utilize scarce goods the most efficiently, people need to make economic calculations via the price mechanism. Its been said that private property is essential to perform viable economic calculation. Why is this so?
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Hi guys! I'm a regular blogger over at Motley Fool. I try to explain Austrian School concepts to the investing community. I've been doing it for a year now and I have been very well received. This week I tried to explain Economic Calculation to the community. Very difficult to do! Anyway, I hope...
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Their subsidization of solar panel production is, believe it or not, has little or no impact on the pace of solar energy research and development. If they subsidized the production of cell phones, new faster, smaller, more reliable cell phones would still be coming out every year. The only difference...
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I've asked this on many forums but I feel I don't understand it yet. I also want an Austrian perspective
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Has anyone here ever studied the detailed statements that your HMO/PPO sends back to you with the breakdown of your doctors visit costs? First, you notice that the doctors break down even the most simple of office visits into a smorgasbord of charges (probably at the behest of the insurance companies...
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Does the viability of the Federal Reserve fall along the lines of the Economic Calculation problem? Are there any authors who have covered this concept?