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Austrian Economics

Austrian Economics Theory

Austrian School of Economics vs. Keynesian Economics

By | Austrian Economics | No Comments

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 and individuals who saw the trees ablaze. The Government decided to try and better the situation. They spent money and time to train personnel and improve infrastructure and after a few years, they had stopped the various small fires from breaking out. Everybody seemed happy. Success? Not really. Read More

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