Prices
4. The Theory of Monopoly Price: From Menger to Rothbard
Prior to Mises there had been nothing written on the theory of monopoly price. Mises felt there could be some limited times of monopoly on the free market, e.g. diamond mines, but Rothbard felt that there could not be monopolies. Both theories developed out of Menger’s original thoughts.
Holding Hands
Blaming OPEC has been in political fashion for over three decades, writes Chris Westley.
Are Higher Prices a Blessing?
People apparently are not supposed to fret that gas is relatively more expensive, writes Robert Murphy, because in an absolute sense, it is still cheaper than other commodities. Well, this leaves out a rather important fact.
Price Spreads and Brokers
On a recent visit to San Jose State University, I sat in on a Money & Banking lecture by Jeffrey Rogers Hummel.
If You Are So Smart...
Ultimately, the power of the Austrian Theory of the business cycle is not whether some economists of the Austrian School rolled the dice on some day trades and made money, writes William Anderson.
Paid Enough to Buy the Product
The newest argument against Wal-Mart is that it is failing to follow the Ford Motor Co. example of increasing wages so that employees can afford the products they are producing.
Can Trade Bring Poverty?
Robert Murphy concedes that it is theoretically possible that an expanded global marketplace could make one country less wealthy on net. However, there are other considerations.
Who Exploits Whom?
Most everyone assumes that capital exploits labor, writes Vlad Menshikov. But this point of view is completely wrong.
