We teach Austrian Economics in a fun way!

Minimum wage

According to many politicians we only need to raise the minimum wage! If the task is as easy as passing merely one bill, if this will make all workers [...]

Value of things

How do we determine the value of things? Aristotle had asked a question that remained unanswered through centuries: Why water that is vital for all life is cheap, [...]

Inflation and deflation

We often hear in the mainstream media that inflation is desirable, that it’s positive for the economy. Central banks are not happy when inflation doesn’t reach the desired [...]

How is wealth created?

Imagine a world in which suddenly all the tools disappear. All buildings, cars and machinery or even basic tools such as knives, hammers and shovels vanish. What would the economy [...]

Supply and demand

I am going to ask you a weird question: What was the demand for cars in year 1120? Someone could answer without any hesitation: “None, there was no [...]

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