Production Theory

For many years, I've been pointing out that the entire mass of the earth, from the upper limits of its atmosphere 4,000 miles straight down to its core, consists of nothing but solidly packed chemical elements. There is not one cubic centimeter anywhere in the earth's mass that is not some...

In my last article, "How Government Budget Deficits Reduce Wages and Raise Profits", I explained why those who complain about profits rising at the expense of wages should not blame the free market but, in part at least, the growth in...

(With assistance from Bill Barnett)

I am perhaps one of the most heavily published of all Austro libertarians now active, at least in terms of refereed journals and law reviews (205, plus 32 forthcoming, for a total of 237 as of today), so these hints, below, might be of some use to you....

Apparently the discovery of penicillin is often trotted out as a classic case showing the importance of having the innovation-incentives of a patent system in place. The following post from Greg Aharonian's PatNews is a letter from a medical specialist...