An Austrian theory of cooking … or a cooking metaphor for Austrian entrepreneurial theory

Lynne Kiesling As a fellow cook, food lover, and economist who incorporates Austrian entrepreneurial theory into my work, I love Mike’s post commemorating Julia Child’s birthday today. Let’s push it even further. One way to create value in cooking is through new combinations of what Mike calls “raw elements”. We can think of three categories … More An Austrian theory of cooking … or a cooking metaphor for Austrian entrepreneurial theory

An Invisible Hook Q&A, and other items of interest

Michael Giberson At the Freakonomics blog, a Q&A with Peter Leeson about his book The Invisible Hook. Here is the first exchange: Q.The Invisible Hook is more than just a clever title. How is it different from Adam Smith‘s invisible hand? A. In Adam Smith, the idea is that each individual pursuing his own self-interest is led, … More An Invisible Hook Q&A, and other items of interest