Logic to Markets: The Austrian Method Explained

In Round 3 of Wrestling with Economics, Matt Kibbe and Glenn Jacobs — Knox County Mayor and former WWE wrestler — break down the unique methodology of the Austrian School and why it stands apart from other economic traditions. At its core, Austrian economics starts with a simple truth: only individuals act. Because people have unique preferences and the freedom to pursue them, economics can’t be reduced to neat equations like the laws of physics. Instead, it’s a study of human behavior — messy, unpredictable, and always evolving. This perspective sees markets not as static systems seeking equilibrium, but as dynamic, ever-changing processes driven by individual choices.