Production Theory
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Isaac Newton’s Place in the History of Economic Thought
Isaac Newton is best known for his development of mathematics and physics, but he also took a keen interest in economics, especially the relationship of money to economic exchange. He also believed that economic laws, like gravity, were immutable.
Why Government Relief Spending Only Makes the Recession Worse
Bob walks through diagrams from Hayek's famous LSE lectures to explain the Austrian view of the boom-bust cycle.
Matt McCaffrey on Frank Fetter vs. Alfred Marshall on the Theory of Rent
Dr. Matt McCaffrey joins Bob to discuss his newly published journal article exploring the dispute Fetter had with the august British economist Alfred Marshall over the theory of rent.
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.
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.
