Production Theory

Whatever your feeling on the need to improve state roads, do not let the myth of "job creation" and a "boost to the economy" be the rationale.

Recorded at Mises University 2008.

Recorded at Mises University 2008.

A dramatic initiative to lower the costs of hiring could end up having great effects.

From Economic Calculation In The Socialist Commonwealth.

"The rationality, the effectiveness, and the justice of public policy which taxes enterprise according to one assumption while it gears, say, profit-incentive policies to its opposite is at least dubious."

You see a headline that reads “

It seems that we may never rid ourselves of the broken-window fallacy, writes Mark Thornton.

The discussion on pages 635–636 explains the "tragedy of the commons," in which people overutilize a resource (such as a buffalo herd or pasture) because of weakly defined or enforced property rights.

Unemployment in the unhampered market is always voluntary.