Production Theory

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George Reisman

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

Jonathan Newman
Booms and busts are brewing in the real economy, but computers that can quickly solve math problems won't tell you much about how business cycles work.
Christopher Westley

In a free economy, firms threatened with competition often respond by searching for ways to increase efficiencies and improving on economies of scale and scope.

Nicholas Freiling

There is a little-known loophole in federal law that allows for people with disabilities to be employed at wage rates below the minimum wage. Why the exemption? It’s an effort to lessen unemployment among the disabled, and a tacit admission in federal law that minimum wages cause unemployment.