How Can Mining Asteroids in the Future Make Us Richer Today?
Bob explains how future inflow of extraterrestrial riches could boost the standard of living on Earth in the near term.
Production Theory
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Was Ricardo’s Comparative Advantage Really Different From What Adam Smith Said About Foreign Trade?
In this episode, Murphy clarifies what is right and wrong on comparative advantage.
What Does Say’s Law Really Say?
Bob goes solo to give the historical context and true meaning behind "Say's Law," as well as the caricature presented by Keynesian critics.
Wages, Unemployment, and Inflation
If one does not stop in time the pernicious policy of increasing the quantity of money and fiduciary media, the nation's currency system collapses entirely.
What Can Carl Menger Teach Us about Falafel Sandwiches?
What better way to explain the relationship between higher-order and lower-order goods than with food? Here, we look at the falafel sandwich.
Low Time Preference Leads to Civilization
Economists use time preference to explain the existence of interest, but the ability of people to postpone some present consumption in order to save for the future has much broader social ramifications.
What Can Carl Menger Teach Us about Falafel Sandwiches?
What better way to explain the relationship between higher-order and lower-order goods than with food? Here, we look at the falafel sandwich.
Low Time Preference Leads to Civilization
Economists use time preference to explain the existence of interest, but the ability of people to postpone some present consumption in order to save for the future has much broader social ramifications.
How Carl Menger and the Austrians Helped to Steer Economic Theory in the Right Direction
When Adam Smith and the English classicals promoted division of labor as the most important ingredient in economic development, it took Carl Menger and his Austrian successors to point out that error and promote the proper economic theory of production.
