What Austrian Economics Is

…and what it is not. That’s Steve Horwitz’s topic in this post at Coordination Problem. He notes a recent post at FrumForum about “the Austrian school’s disdain for American foreign policy and willingness to call Lincoln a tyrant.”

No, Horwitz says. Austrian economics is “an approach to the study of human action and the social world, not a set of policy conclusions.” Austrian economics is not the same thing as libertarianism, natural rights, or any perspective on American wars past or present.