Austrian economics provides valuable insights for business planning, but not so much in business cycle analysis. It’s not that Austrian economics are wrong, but that too much emphasis is put on ...

These concepts are covered in-depth in Thomas Piketty's book: Capital in the Twenty-First Century. What is the Second Fundamental Law? I will get rid of all Greek letters.

Though behavioural economics has tried to challenge this theory, most of the economic models consider human beings to be self-centered, parochial and narrow-minded individuals who take economic ...