Opportunity cost is the proper economic basis for specialization and trade in resources. Opportunity cost is the highest value you give up when you make a choice. It was Confederate government policy that caused misallocations on the part of the South, making it inefficient and wasteful. A few of those bad policies were: drafting soldiers, confiscating resources, and monetary inflation.
I was sitting in my wife’s intro to philosophy class a while ago, and the professor was reviewing their first exam.
Hans Sennholz discusses the many proposals to reform the program and save it from its demographic failings. Demographics, he argues, are a distraction from the core problems.
Recorded 10/15/2004 at Radical Scholarship: The Guerrilla Movement for Liberty.
Recorded 10/16/2004 at Radical Scholarship: The Guerrilla Movement for Liberty.
Recorded 10/16/2004 at Radical Scholarship: The Guerrilla Movement for Liberty.
Recorded 10/15/2004 at Radical Scholarship: The Guerrilla Movement for Liberty.
Recorded 10/15/2004 at Radical Scholarship: The Guerrilla Movement for Liberty.
