Production Theory

Quarterly Journal of Austrian Economics 19, no.

I argue that hoarding implies a longer period of time between when resources are saved and when new consumer goods reach the market (economic growth).

As Peter Klein explains, resources in a modern economy are complex and specific — which is why we need free markets.

The word "efficiency" in modern economics and politics has been abused to the point of having no useful meaning.

The GDP framework and the output gap is an abstraction that does little more than provide justification for the interventions of government officials.

The most substantial difference between our views comes from Braun’s treatment of the relationship between opportunity cost and choice.

My need to comment on Dr. Howden’s review has to do with the fact that he misrepresents my position on a point that is central in my book.

Economic growth is about transforming capital in useful ways. It is not about just making more stuff.

The paradox of "planning" is that it cannot plan, because of the absence of economic calculation.

This paper analyzes a recently reconstructed proto-chapter of Rothbard’s Man, Economy, and State tentatively titled “Chapter 5: Producer’s Activity.” In it, Rothbard used many concepts of standard neoclassical microeconomic analysis that he would later criticize, such as perfectly competitive markets and the isolated firm.