Production Theory

Per Bylund's new book makes a compelling Austrian argument that firms precede markets, and creates what reviewer Mateusz Machaj calls "an unlocking theory of the firm."

The radicals advocated the right of the slaves to rebel, either individually or en masse, and to resort to violence in their own self-defense, and to call on those outside the slave system to come to their assistance.

The so-called "art of central banking" lies in picking the "right" target interest rate. But, there's no way to know the "correct" rate without giving markets freedom from central bankers.

By disparaging and ultimately ignoring Say's Law, many scholars have done great damage to economic theory.

Money, Interest and the Structure of Production covers a broad range of topics in a manner that is intellectually courageous, provocative, and thought provoking.

Many seem to mistakenly think that economic growth has to do with GDP or producing stuff. It does not.

If allowed to function freely, capitalism is hard-wired to distribute resources to as many people as possible at affordable prices. You don't have to be rich to participate in the bounty.

The concept of "productive complements" shows us how capitalists have long sought to make as much use as they can of every part of the materials they use to make goods.

Private entrepreneurs have solved many environmental problems by finding ways to turn garbage into something people were willing to pay for.

Why are there many firms in the world, and not just one, big mega-corporation? The answer lies in the problem of calculating costs and prices.