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Archive of posts published in the tag: Vienna and Chicago

Four Degrees of Faith in Capitalism

In his book comparing the Chicago and Austrian schools of economics, Mark Skousen clarifies the various schools of thought by their faith in Capitalism. Marxists have no faith in capitalism.  In the world of capitalism they are the atheists.  “To

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Good and Bad Measurements of the Economy

One potentially fruitful exercise has been to develop a new national income statistic that measures total spending in the economy, what (Murray) Rothbard called the Aggregate Production Structure. The purpose of this new national statistic, which I have dubbed Gross

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