Austrian Economics is the economics of individualism.
The virtues of individualism – including independence, self-reliance, and the willingness to bear risks as well as the entrepreneurial readiness to back one’s own conviction against a majority, and the willingness to voluntary collaboration with one’s neighbors – are not highly respected today. They should be, because they rank among the most important values that energize Individual Economics, the economic system that, properly understood, empowers every individual to choose the most effective means to achieve their own subjective ends, resulting in the emergence of the best society for all.
