In a series of recent papers, the prominent Austrian economist Peter Boettke has criticised orthodox economics for its lack of realism. This paper situates Boettke’s critique in the context provided by recent developments in the methodology of economics, most notably critical realism. While...

Economists inside and outside of the Austrian-school tradition have formulated a subjectivist theory of mineral resources. While von Mises (<CitationRef CitationID="CR52">1940</CitationRef>) presented a rudimentary theory, institutionalist Zimmermann (1933 and after) provided an in-depth mind-centered approach distinct from the objective,...</citationref>

This paper presents an analysis and defence of competition in retail electricity supply. It includes some account of its development in the UK over the last dozen years, to the point where all retail price controls have now been removed. The development of this competition illustrates a number...

Purpose – The purpose of this paper is to offer a critique of government intervention in the production of biofuel in northern Sweden and Finland, highlighting some of the welfare consequences. Design/methodology/approach – After a short review of government interventions, including laws,...

How is it that schools of economic factions have created rifts where economists cannot bare to be in the same room as one another. Investigation of this question examines fundamental economic theory and identifies the root cause of the rift is the perplexing disconnect between the scientific...

MODERN MONETARY THEORY (MMT) notes correctly that money is a creature of the state, and that important macroeconomic and policy conclusions follow from this understanding, e.g., sovereign states are not revenue constrained and spending is primarily limited by inflation. Taxes give value to state...