Dorian Electra has done a fantastic job of communicating the basic lessons of Austrian Economics in, well, a single song. She covers:
- Subjective value - One person's trash is another's treasure.
- Human action (in circumstances of time and place) - Your economic behavior is unique and perspectival.
- Knowledge problem, as well as problems of quantification and measurement - Macroeconomic models are pretty much useless.
- Unseen costs - Big digs and boondoggles mean foregone opportunities for growth.
- Bottom up versus Top Down - The collective behaviors of individual actors on the ground make up the economy (not aggregate demand).
Via: Ideas Matter