68. Introductory Austrian Economics w/ Tim Terrell




-Menger's Principles of Economics is the foundational text in Austrian econ & is a nice & easy read. Plus, it's free!


* KEY POINT (2:00): "The marginal utility idea is key to economics." *




- Methodological Individualism is a principle within the social sciences that analysis ought to occur at the individual, rather than the institutional level.


-For more on Subjective Theory of Value, check out this article by the great Bob Murphy.


-For more on economic calculation, check out Mises' landmark, Economic Calculation In the Socialist Commonwealth


-Here's a quick video that does a good job explaining Austrian Business Cycle Theory (ABCT):


Here's a great article from FEE on Consumer Sovereignty.