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The challenge from now on for OPEC and for oil producers is not to seek artificial price inflation, but to improve efficiency.
Austrian Economics OverviewPricesValue and Exchange
The purpose of economic science is not to resolve all social problems, nor does it have appropriate tools for this.
Big GovernmentU.S. HistoryPrices
The crude oil “daisy chain” reseller boom is just one example of the absurdity of the 1970s price controls on the oil and gas sector.
Statistics and empirical data aren't ignored by Austrians. Rather, they are relegated to their proper place in the economic edifice.
Booms and BustsThe FedGlobal EconomyBusiness CyclesPrices
Here are two ways to gauge the strength of the world economy.
Taxes and SpendingPrices
Business CyclesPricesValue and Exchange