Austrian School

  “Das wissenschaftliche Denken ist in aller Regel dazu verleitet, die sprachüblichen Vorstellungen und Begriffe zu übernehmen und mit unbedeutenden Modifikationen als grundsätzlich gültig und brauchbar anzuerkennen, ohne zu beachten, dass damit die ganze Oberflächlichkeit, Vieldeutigkeit und Unbestimmtheit, die ihnen naturgemäss anhaftet, in die Wissenschaft mit einzieht und ihren sicheren, selbständigen und unbeirrten Fortgang hemmt.” […]

  “Conservative liberalism” is a hybrid political tendency that seeks to construct a balanced synthesis between liberty and tradition, market and state, individualism and social convention. Although liberals and conservatives have often formed tactical alliances in the domain of public policy, at the level of theoretical foundations, they are generally understood as two divergent intellectual […]

Hayek, the knowledge problem, and the question no central planner can answer Cambridge. Early 1930s. A Keynesian economist leans across the table and asks Friedrich Hayek a question he clearly considers decisive. “Is it your view that if I went out tomorrow and bought a new overcoat, that would increase unemployment?” Hayek pauses. The question […]

1. What is productivity according to the Austrian School of Economics? The Austrian School of Economics views productivity as the successful alignment of subjective consumer demands with efficient, time-structured production. It rejects aggregate statistical averages, emphasizing instead that true productivity arises from entrepreneurial innovation, capital investment, and time preference (the decision to save rather than […]

Chapters: 0:00 – The First Family of Austrian Economics 1:24 – What Carl Menger Actually Revolutionized 3:44 – The Secret Second Edition 5:49 – The Brother Who Argued Back 7:44 – Teaching the Crown Prince 9:11 – Hermine Andermann: The Mother of Austrian Economics 11:34 – Karl Menger Jr.: A Name to Live Up To […]