Jonathan Newman is interviewed by Andrew Wilkow.
The article explores how Austrian Economics explains luxury marketing, using the iconic Hermès Birkin bag as a case study to illustrate Carl Menger's Theory of the Good and Ludwig von Mises' explanation of Human Action.
Nicolaus Copernicus is best known for his observation that the sun was at the center of our solar system, but he also made a number of astute observations about economics. His views on money included a precursor to what we