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Böhm-Bawerk shows us that the study of human action and the economy in general goes beyond the simple paradigm of the financial and monetary world. Economics is built into all human experience.
While Austrians celebrate Mises, Menger, and Rothbard, there also is an important place in the Austrian pantheon for Eugen von Böhm-Bawerk, whose work on interest is vital for understanding economics. Without Böhm-Bawerk, there is no Austrian business cycle theory.
The Polish Mises Institute released, on its YouTube channel, a new documentary about Carl Menger.
Norbert Michel and Jerome Famularo In the aftermath of the COVID-19 pandemic, the United States experienced a much higher rate of inflation than at any time during the prior few decades. Like the prices of many goods and services, the cost of housing rose rapidly, with
Mainstream economists are united against deflation, which they claim is the cause of recessions. Austrians know better, as they understand that deflation raises living standards and prevents destructive asset bubbles.
