Austrian Economics Overview

Entrepreneurship is a general feature of the market economy.

Menger discovered much more than the principle of marginal utility—he created an entire system of economics based on subjective value and individual choice.

"The free market and the division of labor does not promote hyper-atomized individuals. It creates social harmony and community."

This concept of economic calculation is really the foundation of all economic theory, and price theory is the cornerstone of economic calculation.

"We would not expect money to be paper, national, or under the control of any entity."

Part I: Economics, Chapter 3: How to Do Economics

Part II: Market, Chapter 6: Value, Money, and Price

Part III: Intervention, Chapter 9: Regulatory Intervention

Part I: Economics, Chapter 1: What Economics Is

Part II: Market, Chapter 4: A Process, Not a Factory