Prices

All price changes have real effects on demand for goods, and therefore alter goods' prices relative to one another. For this reason changes in the money supply can't fail to affect resource allocation.

We need both prices and entrepreneurs to have a functioning and prosperous marketplace. Under socialism, though, we have none of the above.

AOC and Paul Krugman are wrong: we can't just pay people money to stay home and expect "stuff" to materialize around us. Dr. Shawn Ritenour shows how Man, Economy, and State explains why.

Jeff Deist and Dr. Jonathan Newman break down Chapters 2–4 of Man, Economy, and State. This is vintage Rothbard: precise definitions; hardcore explanations of property, prices, and exchange; the problems of "hegemonic" state violence;  and a "beautiful" (per Dr. Newman) conception of social cooperation.

Michael Sandel doesn't like capitalism. But he can't seem to manage an economic argument for why. He's content to claim that capitalism is morally corrupting, converting anticapitalism into a sort of pseudoreligious faith.

Bad theories have a long life in the social sciences, and the crude quantity theory of money is one that refuses to go away.

Michael Sandel doesn't like capitalism. But he can't seem to manage an economic argument for why. He's content to claim that capitalism is morally corrupting, converting anticapitalism into a sort of pseudoreligious faith.

Bad theories have a long life in the social sciences, and the crude quantity theory of money is one that refuses to go away.

The real problem with inflation, properly understood is that it is essentially a wealth transfer away from the most productive parts of the economy. This causes bubbles and economic fragility.

The real problem with inflation, properly understood is that it is essentially a wealth transfer away from the most productive parts of the economy. This causes bubbles and economic fragility.