A Spectacle Due To Spectacles

I was recently recommended to read Bryan Caplan‘s 1999 article “The Austrian Search for Realistic Foundations” (JSTOR). Caplan is no doubt an intelligent scholar, but he does not show this fact in the mentioned article. Rather, to any reader knowledgeable in Austrian economics, this article appears at best to be a spectacle. The reason for […]

Division of Labor and the Firm

In an article recently accepted for publication in the Quarterly Journal of Austrian Economics, I draft a model for explaining how firms emerge in the market place. Whereas theories of the firm generally attempt to explain the rationale for firms, their boundaries, and how they are internally organized, there are pretty much no studies at […]

On Comprehensive Exams

It is undoubtedly the case that most students do not only accept the state of things, but they never even question why things are the way they are. This should perhaps not be loathed, since the answer most students would be likely to get upon questioning is “this is the way it has always been […]

The Basis for Predictions

In a previous post I discussed the well-known fact that economists’ predictions are always wrong, and why they always are. But one obvious problem with predictions was left out of the discussion, and I would like to discuss this problem in a separate post. In contrast to the previous post, which was quite general in […]

On the Recent Piracy Trial

As some of you may know, the “piracy” trial ended with the conviction of the administrators of the web site The Pirate Bay to one year in jail as well as (for Sweden) record-high damages to the entertainment industry. Whereas it is not clear if they have committed a crime – hell, it isn’t even […]

Why Do Economists Sympathize with the Right?

This is a legitimate question even though it doesn’t necessarily imply that economists (American such, at least) in general are Republicans. But it is a fact that economists in general tend to be to the “right” (according to the common understanding of the political right) of e.g. sociologists and political scientists. It is also a […]

Responding to Klein and Rothbard on Agorist Organization

Peter Klein wrote a blog post yesterday on the Mises Economics blog continuing the agorist vs. anarcho-capitalist discussion on organization. In his post, Klein summarized his contribution to the discussion followed by a quoting Rothbard’s assessment of agorists view on organization. But both Klein and Rothbard make unsupported general conclusions that they seem to base […]