The Austrian school of economics is a school of economic thought that emphasizes the importance of individual human action and free markets in economic decision-making. It has its origins in late 19th ...

Explore Murray N. Rothbard's influence as a libertarian economist, father of anarcho-capitalism, and advocate for Austrian economics. Learn about his impactful works.

Opinions expressed by Entrepreneur contributors are their own. Over 50 years ago, economist William Baumol noted that economics was a theory of the economy that left no place for entrepreneurship.

Detroit's bankruptcy presents an opportunity to transform itself from an example of municipal failure into a symbol of restoration and source of economic dynamism. Here is an “Austrian moment” in the ...

The Austrian school of economics is appreciated by many free market advocates, but it’s really an approach to economics rather than a set of conclusions. Many of the insights from Austrian economics ...

As always the best way to explain anything is with a story - and in this case a true story. Forest fires are a major concern in many parts of the U.S., upsetting lumber companies who saw profits burn ...

Over 50 years ago, economist William Baumol noted that economics was a theory of the economy that left no place for entrepreneurship. Economic models, simply put, were “entrepreneur-less.” Economics ...