Production Theory

In the world of reality there is no stationary state.

Imagine an economy that never changes. Only then does the plan compute.

Socialization—a word built to obscure the problem it names.

As we look back on the recent riots in France, we look even further back to the wisdom of another Frenchman, J. B. Say who understood something about economics and what makes a good society. Keynes claimed to “refute” Say’s Law when, in reality, he refuted nothing.

As we look back on the recent riots in France, we look even further back to the wisdom of another Frenchman, J. B. Say who understood something about economics and what makes a good society. Keynes claimed to “refute” Say’s Law when, in reality, he refuted nothing.

Dr. Per Bylund argues that economic growth comes not from stretching the Hayekian triangle before its original factors, but from entrepreneurs inserting new, more roundabout production processes within it.

Many have misstated Say’s Law for years. J. M. Keynes incorrectly attributed a concept to Say that he did not hold: “supply creates its own demand.” Even the great Thomas Sowell restated this error.

Many have misstated Say’s Law for years. J. M. Keynes incorrectly attributed a concept to Say that he did not hold: “supply creates its own demand.” Even the great Thomas Sowell restated this error.

Labor unions and the general public almost totally ignore the essential role played by falling prices in achieving rising real wages.

Murray Rothbard wasn't born an Austrian economist. Patrick Newman on how a Columbia-trained mainstream PhD became Mises's heir—in the hundredth year since Rothbard's birth.