Past expenses incurred during the production of a good are completely irrelevant to the determination of the current price of a good. The market price of a good is determined solely by the relative valuations of goods and money by the buyers and sellers of the good.
The environment determines the situation but not the response. To the same situation different modes of reacting are thinkable and feasible.
Because the state is grounded in a network of lies, contradictions, deceptions, and conflicts, political systems are inherently in conflict with reality and must resort to intentional distortions of truth as a way of trying to appear coherent to a gullible public.
The technique of the historicists’ indictment of capitalism is simple indeed.
The leading Baconian in political economy, who was also, fittingly, a pioneer in statistics and in the alleged science of “political arithmet
Modern economics traces all human actions back to the value judgments of individuals.
The status and reputation of Sir Francis Bacon (1561–1626) is one of the great puzzles in the history of social thought.
Healthcare in Canada is not free. Constantly full waiting rooms and long waits for procedures are not an unavoidable fact of life but a product of a "priceless" supply system, where waiting for service acts as a rationing substitute for the market price.
Nature does not generate peace and good will. The characteristic mark of the “state of nature” is irreconcilable conflict.
"This is firsthand experience of the truth of Mises's argument against socialism: that without market prices for factors of production, there is no intelligent or rational way to organize society."
