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David\'s Bio

Born just 11 months prior to Armstrong's small step, I grew up with the promise of being able to live in space. I always said I wanted to be an astronaut when I grow up. Dammit, thirty some years later it's time for me to grow up! I'm working on that goal by founding Masten Space Systems, Inc. Read more »

Internet as kosmos

Glenn Reynolds takes us back 10 years to when the internet revolution was just beginning to hit mainstream computer owners.

Just try this thought experiment: Imagine that it's 1993. The Web is just appearing. And imagine that you - an unusually prescient type - were to explain to people what they could expect in the summer of 2003. Universal access to practically all information. From all over the place - even in bars. And all for free!

The value of a PhD

How many times have you heard someone say, "The solution is education," in response to an endless list of social problems. Or, "Society needs educated people in order to thrive," or "The best thing we can do for the youth of America is give them a proper education"? Education is often regarded as the modern day panacea for societal ills. Pick a problem, any problem, watch some TV, and a talking head will propose education as the solution. Read more »

The rich get richer, the poor get... richer?

(via EconLog)

Daniel Drezner explains income inequality, showing that over 10 years, someone in the bottom quintile in 1979 was more likely to be in the top quintile than the bottom one.

Among other points (2 other good ones, too). Check it out. Read more »

Visitors from the Mises blog

Welcome Mises Blog readers! Read more »

Calpundit's knowledge problem

?One?s initial surprise at finding that intelligent people tend to be socialists diminishes when one realizes that, of course, intelligent people will tend to overvalue intelligence, and to suppose that we must owe all the advantages and opportunities that our civilization offers to deliberate design rather than to following traditional rules, and likewise to suppose that we can, by exercising our reason, eliminate any remaining undesired features by still more intelligent reflection, and still more appropriate design and ?rational coordination?

Praxeology - the study of human action

The Austrian school approach to economics was named for its Austrian founders Carl Menger and Eugen von B?hm-Bawerk, and its Austrian champions Ludwig von Mises and Friedrich von Hayek. In the United States, it was further promoted by Murray Rothbard and others.

The approach of the Austrian school of economics is called praxeology, which is defined as the study of human action. Read more »

The Austrian School...

Welcome visitors from NRO and others. Unfortunately, as Brian stated this blog has just been started, and we are still trying to get up to speed. As Ramesh Ponnuru mentioned, one of the perspectives that we take at Catallarchy is the Austrian-school approach to economics. So I am going to make a couple of posts as a basic introduction to one aspect of the Austrian approach - the study of human action at its most basic level. Read more »

Oh my...

We've been mentioned by Ramesh Ponnuru on NRO, and I haven't had time to respond to the WSJ article yet. Yikes! (and right after an entertaining-yet-non-economics series on Buffy the Vampire Slayer. Well, at least Jonah might like us.)

Apologies to anyone who's come by yet and not seen anything... come back later, and we'll have more goodies. ^_^;

(and of course, much thanks for the link, regardless!)

Who seeks Utopia?

Supporters of voluntary exchange and civil society as a means to achieve individual ends are often criticized as being 'utopian.' Thomas Sowell [via DCthornton] sees a different origin for utopian ideas:

The most casual glance at countries around the world makes it painfully and inescapably clear that most are much worse off than the United States -- not just in economic terms, but even more blatantly in terms of elementary freedoms and ordinary decency.