Calculation and Knowledge

Displaying 11 - 20 of 604

Yes, There Are Tradeoffs between Disease Prevention and Economic Destruction

ProgressivismCalculation and Knowledge

Noneconomists struggle to realize that scarcity results in the necessity of tradeoffs. During the COVID-19 pandemic, this difference in thinking causes them to wrongly accuse economists of "prioritizing money over lives."

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COVID-19 and the Planners’ Need to Plan

Big GovernmentBureaucracy and RegulationCalculation and Knowledge

Blog03/26/2020

Despite the fact that the CDC’s formal name includes the word “Prevention” and that its stated goals include various planning buzzwords, its managing of the COVID-19 response has been an unmitigated disaster.

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The Use of Knowledge in Entrepreneurship

Calculation and KnowledgePrices

Blog03/25/2020

It is a marvel that imperfect, limited information available to the entrepreneur can be used to produce so much good for society. 

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COVID-19: The "Experts" Have No Crystal Ball

Media and CultureCalculation and KnowledgePhilosophy and Methodology

Blog03/25/2020

The 2016 election was an important reminder that most experts were totally wrong in their predictions of what would happen. Now the experts are claiming that freedom and markets must be abandoned based on new guesses about the future.

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Abolish Government Schools

EducationCalculation and Knowledge

Blog02/24/2020

Even if it’s true that some wouldn’t be able to afford schooling without government financial assistance, the idea that this necessitates the government creating and running its own schools is a glaring non sequitur.

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The Economy Is Not a Factory—Nor Should We Try to Make It One

The EntrepreneurCalculation and KnowledgeEntrepreneurship

Blog02/08/2020

The economy is not primarily about the adjustment of capital investment across industries and firms, but about the determination of which industries and types of production will exist—and who will be involved in this future production.

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Do People Really Seek to Maximize Profit?

Calculation and KnowledgeValue and Exchange

Blog02/04/2020

Economics is not intent upon pronouncing value judgments. It aims at a cognition of the consequences of certain modes of acting.

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The True Costs of Bad Economists, Explained

Calculation and KnowledgePhilosophy and Methodology

Blog01/28/2020

In terms of economics, what currently is should be of very little importance: what matters, and that we should seek to understand, is the process that brought it about and that will create what will be in its place.

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The Limits of Economic Calculation

Calculation and KnowledgeValue and Exchange

Blog01/21/2020

It is possible to determine in terms of money prices the sum of the income or the wealth of a number of people. But it is nonsensical to reckon national income or national wealth.

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Investors, Randomness, and Entrepreneurial Thinking

Financial MarketsMedia and CultureCalculation and Knowledge

Blog01/07/2020

It's possible for investors and entrepreneurs to make a lot of money in markets without understanding the economic theory behind their actions.

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