Austrian Economics Overview

While Bitcoin's S2F Model has come under some criticism, the best analysis of its flaws comes from perspective of Austrian Economics.

Mainstream economists claim that Austrian economics is "discredited" because Austrians use deductive reasoning instead of employing complicated calculus and statistics. The irony is that Austrian analysis is better at explaining real-world economic phenomena.

Being right is not enough. Economics must appeal both to truth and beauty, which are inescapably linked.

What is important is not the types and number of goods that sit on store shelves. It is why and how they got there.

While Austrian economists criticize the neoclassicals for their models' use of untrue assumptions, critics have turned the same criticism against the Austrians for their use of the evenly rotating economy.

Per Bylund has written a book on economics that is understandable to the layperson as well as presents economics the way it should be done: a science grounded in understanding human action.

Learning economics is fundamentally about gaining economic literacy so we can better understand the world we are part of. The real world, not the invented world we find in formalized models.

"Economics is about how we behave, which comes from our personal valuation, in and relative to the physical world."

Under a system of private ownership, in which the government's only function is to protect property rights, it is immaterial where the frontiers of people's country are drawn.

As the US political landscape shifts rapidly and college economics departments become increasingly hostile, the way we teach free-market economics will change.