Category Archive: 6b) Austrian Economics

Action always is essentially the exchange of one state of affairs for another state of affairs. If the action is performed by an individual without any reference to cooperation with other individuals, we may call it autistic exchange. An instance: the isolated hunter who kills an animal for his own consumption; he exchanges leisure and a cartridge for food.

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Sweden's rent control is widely touted by many who don't understand economics as a model for how a property market should work. Young people in Ireland, for example, like to point to Sweden as a nirvana where rent control ensures easy availability of affordable and high-quality rental stock. 

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In the early morning of July 6th, an explosion damaged a monument in Georgia known as the Georgia Guidestones. Because of the damage, the rest of the monument was demolished for safety reasons. The stones were erected by anonymous donors in 1980 and list ten principles for humanity. At the time of writing, it seems that the explosion was the result of purposeful sabotage.

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Even though the downhill trajectory we've seen over the last decades in terms of property rights is bad enough, nothing could have ever prepared us for what the covid-19 crisis would bring. Even those of us who have read enough history to know that there's really no line that the state will not cross in its fervent pursuit of absolute power were sincerely surprised.

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Perhaps one of the more astute observers of Russian foreign policy in recent decades has been John Mearsheimer at the University of Chicago. He has spent years warning against US-led NATO enlargement as a tactic that would provoke conflict with the Russian regime. Moreover, Mearsheimer has sought to explain why this conflict exists at all.

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