Diminishing Marginal Utility: It’s a Law
One of the most important principles of economics is that decisions are made at the margin, and one of the key problems in classical economics concerned the source of value.
Calculation and Knowledge
Displaying 391 - 400 of 691
Skyscrapers and Business Cycles
Building the world’s tallest building has been a matter of particularly bad timing by entrepreneurs.
A Nudge in the Wrong Direction
They are not in fact proposing less intrusive government nudges to replace more intrusive government coercion, but yet still more government on top of what we have today.
Should We Buy Only Locally Grown Produce?
"Buy local" is, at its logical limit, a prescription for poverty and starvation.
Why a Socialist Economy is “Impossible”
This is the Postscript to Economic Calculation in the Socialist Commonwealth (pp. 51-71) by Ludwig von Mises.
II. The Nature of Economic Calculation
From Economic Calculation In The Socialist Commonwealth. Pages 10-26 in the text, as narrated by Gennady Stolyarov II.
III. Economic Calculation in the Socialist Commonwealth
From Economic Calculation In The Socialist Commonwealth.
Isaiah’s Job
Albert Jay Nock wrote, “The only element in Judean society that was particularly worth bothering about was the Remnant.
The Oil-Price Bubble
We define a bubble as the outcome of activities that have emerged on the back of the loose monetary policy of the central bank. In the absence of monetary pumping, these activities would not have emerged.
