As you know, dear reader, in this site we are Austrians, economically speaking. This means that most people do not understand us. One of the reasons for this misunderstanding is that Austrian economics is mostly written in the high language of economics by economists and for economists. This could not be otherwise since in any scientific endeavour it is necessary to be as accurate as possible. What this means in practice is that economists had to develop new concepts and ideas and then assign words to them. They know what those words mean but regular people do not. How could they? Regular people are not economists. This is truly tragic because most of these concepts are quite simple to understand if properly translated to normal words.
This project that we start today will have the goal to achieve just that. The translation of the basic Austrian principles into normal language for all to understand.
We have done something similar in the past, although not in a consistent manner. This project will solve such flaw.
This project will be generated as regular posts which will also be linked for completion purposes in our new special section creatively titled Austrian Economics.
Note: please see the Glossary if you are unfamiliar with certain words.