Production Theory

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Adnan Al-Abbar

What better way to explain the relationship between higher-order and lower-order goods than with food? Here, we look at the falafel sandwich.

Soham Patil

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. 

Pedro Goulart

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.

Ryan Turnipseed

Mainstream economists turned climate warriors use cost-of-production methods to determine the “true” social cost of carbon. They appeal to a discredited methodology falsely attributed to medieval Scholastics.

Ryan Turnipseed

One of the canards of mainstream economics is that only government can provide the "optimum" number of nonrivalrous, or public, goods. Austrian economists have never accepted that theory.