2. Exchange and Demand
All action is really exchange. What the actor prefers less is exchanged for something he prefers more, including gift giving. It is a fallacy to say that the goods exchanged have equal value.
Austrian Economics Overview
Displaying 1521 - 1530 of 2013
3. The Determination of Prices
What determines market prices? Buyers and sellers must know of feasible trades. They can learn from their mistakes. They prefer higher profits to lower profits. They think in discreet terms. Both participants win in market exchanges.
1. Scarcity, Choice, and Value
In this first lecture of a series of lectures covering the basics of applied Austrian economics, Joseph Salerno introduces a number of basic concepts including utility, exchange, psychic cost, choice, value, and marginal utility.
Food for Thought
The following thoughts on the current economic and financial environment formed part of a recent commentary sent to our firm’s clients.
Hoppe has arrived.....in Italy
Paleolibertarism: Il pensiero di Hans-Hermann Hoppe , by Piero Vernaglione, was published just a few weeks ago in Italian.
Study Guide to Human Action, Chapter III
What does Mises mean by saying, "The revolt against reason was directed against another target. It did not aim at natural sciences, but at economics"?
An Interview with Mark Thornton
Originally broadcast on the “Liberty Forum” television program, hosted by Michael Probst; Montgomery, Alabama.
