It Is More Than Laissez-Faire


Recently, while on a short vacation, I was able to read Bruce Koerber’s book, “More Than Laissez-Faire”. After having communicated with Bruce on social media occasionally, I thought I’d finally go ahead and read about what he calls, “The Divine Economy.” Advertisements

Time: Our Most Scarce Resource


The recent passing of Nobel Laureate Gary Becker had me reflecting on some of his work. Specifically, his thought on how time is our most scarce resource. In his Nobel lecture he begins by explaining that economics impacts more than just the financial decisions that people make. Economics, when properly applied, allows the student to study…

Human Action and Prices


The Austrian School of Economics has been at the forefront of price theory. Beginning with Carl Menger, the founding patriarch, through others such as, Böhm-Bawerk, Mises, Hayek, Rothbard, Lachmann, Kirzner and more have advanced the theory of prices. It is generally accepted that prices are a function of supply and demand. But, there’s more.

The Gravity of Choice


One of the fundamental laws of economics is that human beings act on incentives. People make choices to act every day, all the time. The choices they make, are without fail, whether they will be left better or worse off. As a matter of fact, people remain inactive until they have made their choice whether…