Production Theory

Displaying 11 - 20 of 675

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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Savings Are Critical to a Prosperous Economy

Monetary PolicyProduction Theory

Blog06/12/2020

The heart of economic growth is the expansion of real savings. Monetary pumping only destroys wealth and savings.

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Defining "Inflation" Correctly

InflationPricesProduction Theory

Blog05/30/2020

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.

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How Government Intervention Triggers Depressions

Business CyclesProduction Theory

Blog05/21/2020

Thanks to past interventions, the economy is now rife with malinvestments and prices that don't reflect real demand. The solution is to allow deflation and other types of painful readjustment. Otherwise true growth will elude us.

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Let's Hope Deflation Is Headed Our Way

InflationMonetary PolicyProduction Theory

Blog05/20/2020

Central banks have decided that one of their main missions is to prevent deflation. But this only ends up causing the malinvestments that lead to economic busts.

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Money Velocity and Prices

Production TheoryValue and Exchange

Blog05/09/2020

Prices and purchasing power are determined by how individual consumers value goods and services. The "velocity of money" won't help us understand prices or the money supply.

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The COVID Stimulus is the Government’s Latest Rejection of Say’s Law

Monetary PolicyProduction Theory

Blog05/08/2020

No matter what levers are pulled by the fiscal and monetary authorities, stones will not be turned into bread.

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Decades of Productivity Gains Have Made Our Debt Bomb Manageable (For Now)

InflationPricesProduction Theory

Blog05/02/2020

Although the money supply has greatly increased, accompanying growth in production has made it possible to keep the current system of immense debt increase going for a long time.

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