Why is it that things like bread and water which have high use values are cheap while on the other hand luxury items like diamonds are very expensive? This paradox was not solved until it became understood that people choose only a marginal unit - this loaf or this diamond.
Our board consists of world-class scholars working in the libertarian tradition — a veritable who's who of Austrolibertarianism.
With iTunes U, the entire body of scholarship accumulated in the minicivilization of Mises.org can enjoy the widest possible distribution.
Rothbard considers how prices are determined by supply and demand on the free market. All long shortages are caused by government interventions. Forecasting is not possible. Economics is not an objective science.
What causes business cycles? Keynesians say the cycles happen because the free market economy does not spend enough. Thus, pump spending in. Additionally, Keynesians say that animal spirits cause these cycles. Government must fix things. Nobody could understand Keynes' General Theory. What was simply obscure was wrongly considered deep.
