Other Schools of Thought

Economists of the Austrian School of economics define inflation differently than much of the mainstream of the economics profession, writes By Gary Danelishen. The typical mainstream intermediate macroeconomics textbook defines inflation as "an increase in the overall level of prices." Ludwig...

In the newest issue of American Affairs to see the light of day after 60 years, Garet Garrett once again carries the day:

There are only two kinds of planned economy; and for all they may have, or seem to have, in common...

USA Today reports on Jan Grzebska, a polish worker who awakened from a 19-year coma. When he suffered a head injury, Poland was communist. Now, according to his wife, "He was so amazed to see the colorful streets, the goods...

Many people have sent us this article from the NYT, one that recounts how a small but exceedingly brave group of heterodox economists have dared question the free-market orthodoxy of the profession. It's the same version...