Production Theory

Displaying 1 - 10 of 666

Technology Alone Won't End Poverty. We Need Savings First.

Money and BankingProduction Theory

Blog02/16/2021

Regardless of how knowledgeable we are and regardless of various technological ideas, without an expanding pool of real savings, expansion in economic growth is not going to emerge.

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The Upside of Lockdowns: More Saving

Money and BanksOther Schools of ThoughtProduction Theory

Blog01/14/2021

Rothbard: "At the outset of every step forward on the road to a more plentiful existence is saving….Without saving and capital accumulation there could not be any striving toward nonmaterial ends."

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Biden’s Covid "Supply Commander" Is Bad Medicine

CapitalismProduction Theory

Blog12/02/2020

Joe Biden thinks a centrally planned supply chain for healthcare supplies is necessary, because "We can no longer leave this to the private sector." There are many reasons why this is so very wrong. 

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Böhm-Bawerk Explains Why Marxist "Exploitation" Is Nonsense

SocialismCapital and Interest TheoryProduction Theory

Blog11/11/2020

Marx’s theory of exploitation forms the foundation of all his work. But Marx couldn't tell the difference between profit and surplus, exposing the incoherence of his theory. 

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If We Want to Increase Demand in the Market, We Must First Increase Production

Production Theory

Blog10/05/2020

An individual’s demand is constrained by his production of goods. The more goods an individual produces, the more of other goods he can secure for himself.

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Turning to Keynes in this Crisis Will Only Make Things Worse

Booms and BustsMonetary PolicyProduction Theory

Blog09/19/2020

If policymakers finally let a real economic "correction" and recession happen, it means the economy will finally turn toward doing what the consumers actually want.

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How Capitalists Improve Human Productivity

CapitalismProduction Theory

Blog09/07/2020

Capitalists, acting as intermediaries between present production and future consumption, are the key players in every capitalistic economy.

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How Murray Rothbard's Theory of Entrepreneur-Driven Progress Can Be Applied to Modern Businesses

CapitalismEntrepreneurshipProduction Theory

Blog08/05/2020

To succeed, entrepreneurs must demonstrate superior foresight and judgment, and practice continuous dynamic improvement in their assembly and reassembly of assets to serve the consumer.

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Foreign Aid Is Protectionism

Taxes and SpendingWar and Foreign PolicyPolitical TheoryProduction Theory

Blog07/23/2020

The economic nationalist faces a dilemma. Foreign aid handouts and economic protectionism are not only wholly compatible in theory, but the effects of foreign aid perfectly complement economic nationalists’ goals.

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Why Savings Are So Critical to Improving the Standard of Living

CapitalismProduction Theory

Blog07/10/2020

In order to produce capital goods, and hence more consumer goods, we must first forego current consumption. That is, we must save now to have more later.

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