Fundamentals of Economic Analysis: A Causal-Realist Approach

We have today a hybrid of two forms of banking — loan banking (non-inflationary) and depos... more

Competition can mean rivalry or freedom. All firms must serve the preferences of consumers... more

In the history of money, bartering was awkward because wants were not divisible. Direct ex... more

Causal-realist analysis allows imaginary constructs like the ERE—Evenly Rotating Economy—i... more

Time preference says that individuals prefer satisfaction now to later, present to future.... more

As with all government intervention, price controls do not achieve what their originators ... more

Factors of Production are economic goods: scarce means used to achieve an individual’s end... more

All action is really exchange. What the actor prefers less is exchanged for something he p... more

What determines market prices? Buyers and sellers must know of feasible trades. They can l... more

In this introduction to the basics of Austrian-school economic analysis, Joseph Salerno in... more