Value and Exchange

Displaying 1 - 10 of 769

Why It's Important to Understand "Economic Costs"

Austrian Economics OverviewSubjectivismValue and Exchange

Blog06/20/2019

The concept of economic cost seems to confuse people. It is not the price you pay for a good, but the reason you pay it.

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Can Cooperation Replace Competition?

Monopoly and CompetitionValue and Exchange

Blog06/03/2019

Competition and cooperation and not two things in conflict. They are both essential ingredients in a society based on voluntary action instead of violence.

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Billionaires Aren't Quite As Rich as We Think They Are

PovertyValue and Exchange

Blog04/30/2019

If the Wal-Mart CEO were to take a $1 salary and the company were to spread that over each of the company's workers, each worker would receive a one-time bonus of $10.

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How Human Action and Human Values Determine Prices

SubjectivismValue and Exchange

Blog04/20/2019

Prices are set by how much people value goods and services. And people value things based on what they think will improve their life and well-being. 

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Krugman Needs a Lesson on Why Truckers Are Paid Less Now than in the 1970s

Labor and WagesValue and Exchange

Blog04/18/2019

Truckers are paid less now than in the 1970s because government regulators once tightly controlled competition, thus driving up the cost of living for everyone else.

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Capitalist "Expropriation": Resentment versus Reality

Political TheoryValue and Exchange

Blog03/27/2019

Being resentful about a business transaction after the fact isn't the same thing as being exploited or abused.

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Ludwig von Mises on the Difference Between Entrepreneurs and Managers

The EntrepreneurPhilosophy and MethodologyValue and Exchange

Blog02/28/2019

When Mises noted that a manager is a "junior partner" of the entrepreneur, he did not mean to downplay the role of management in the economy.

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Time Is Money, Money Is Time

Money and BanksMoney and BankingValue and Exchange

Blog12/29/2018

We think the state is taking only our money, but it is also taking our time.

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Ebenezer Scrooge's Tiresome Crusade Against "Consumerism"

Media and CultureSubjectivismValue and Exchange

Blog12/25/2018

Scrooge was wrong, and his Nephew Fred was right. While it's true the benefits of feasting with friends and family can't be calculated in a ledger, that doesn't mean those things have no value.

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