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Via Learn Liberty, the price system + profit and loss

Part I, the price system: Part II, profit and loss: See also, Kirzner, How Markets Work: Disequilibrium, Entrepreneurship and Discovery (PDF), which is a wonderful rebellion against the over-simplification of neo-classical economics. For example: Austrian theory, as presented here, places great weight on ‘entrepreneurial discovery’ which enables decentralised decision-makers to recognise when present decisions can be improved upon, and to anticipate future changes in the decisions being made by others. Movements in prices, production methods, choices of outputs, and resource […]

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Sustainability: An Assault on Economics – Tyler A. Watts

One of my key areas of interest is how to deliver sustainable, stable and inclusive prosperity. This is why I dedicate so much time to economics. However, the word “sustainable” may not convey the same thing to everyone: via Sustainability: An Assault on Economics – Tyler A. Watts – Mises Institute: The sustainability movement is an assault on economics. It claims at its core that prices don’t operate through time to direct consumption and production decisions in a sustainable way. […]

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