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- Philosophy and Methodology
- Joseph T. Salerno
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Joseph T. Salerno
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The founder of the Chicago School, Frank Knight, was an avowed egalitarian. Rousseau was his influence. Jacobins believed in mass democracy and politics as the only way to implement their ideas. They hated aristocrats and religious leaders. Knight believed in progressive taxation. He wanted neocon social democracy. Milton Friedman was part of the
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Author:
Joseph T. Salerno
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The debate still continues. It is all about Mises’ initial article and then book on Socialism in 1922. He demonstrated the necessity of the price system and showed how subjective values were transformed into objective prices which could be used as meaningful cardinal numbers in economic calculation. One big cartel that owns everything would be
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Author:
Joseph T. Salerno
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Recorded at the Mises Institute, 7–8 October 2005. [35:13]
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Author:
Joseph T. Salerno
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In this introduction to the basics of Austrian-school economic analysis, Joseph Salerno introduces a number of basic concepts including utility, exchange, psychic cost, choice, value, and marginal utility. He also introduces a number of important topics such as Crusoe economics and the water-diamond paradox. Salerno lays the foundation for this