The Circular Flow Diagram has dominated economic thought for over a century. Yet, all along we’ve known its shortcomings: over-aggregation, static capital, instantaneous production, and homogeneous factors. It places consumption before production and supports a fantasy macro world where saving is destructive, deficits don’t matter, and MMT makes
How refreshing to read a widely published economics book which casts the Austrian School in its proper light! The Economics Book is part of DK’s popular series, Big Ideas Simply Explained . The series takes an historical approach to over a dozen subjects such as religion, psychology, art, science, history, and literature. The Economics Book starts
El diagrama de flujo circular ha dominado el pensamiento económico durante más de un siglo. Sin embargo, todo el tiempo hemos conocido sus defectos: sobreagregación, capital estático, producción instantánea y factores homogéneos. Antepone el consumo a la producción y apoya un mundo macro de fantasía en el que el ahorro es destructivo, los déficits
¡Qué refrescante es leer un libro de economía de amplia divulgación que muestra a la Escuela Austriaca tal como es! The Economics Book es parte de la serie popular de DK, Big Ideas Simply Explained . La serie realiza una aproximación histórica sobre una docena de temas, como religión, psicología, arte, ciencia, historia y literatura. The Economics
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.