JOIN OR RENEW TODAY
Displaying 1 - 10 of 191
Philosophy and MethodologySubjectivismValue and Exchange
Interpersonal utility can't be measured. After all, if you can't measure a single person's utility, it makes no sense at all to measure one person's utility against that of another.
Calculation and KnowledgeSubjectivism
Contra Marx, Mises understood that human desires and needs are not determined merely by biology.
Philosophy and MethodologySubjectivism
Mises thought that social cooperation through the free market resulted in peace and prosperity, regardless of whether people or societies accepted this or not.
Some people use the concept of negative externalities to argue for government to force people toward "what is best for them." An example of this is the call for a consumption tax.
PraxeologySubjectivismValue and Exchange
A given goal dictates the specific means that an individual will choose for the attainment of that end. People make choices that they think will help them achieve an end.
Global EconomySubjectivismValue and Exchange
Some anti-Brexit pundits tried to frame the Brexit debate as one of savvy economics-minded people against economic illiterates. These people missed the point.
SubjectivismValue and Exchange
Anti-capitalists love to claim that consumers don't really have free choice — that advertisers and peers really dictate to others what they should buy. In truth, consumers choose freely, but use others to filter information and simplify the process.
Austrian Economics OverviewSubjectivismValue and Exchange
The concept of economic cost seems to confuse people. It is not the price you pay for a good, but the reason you pay it.
Prices are set by how much people value goods and services. And people value things based on what they think will improve their life and well-being.
Media and CultureSubjectivismValue and Exchange
Scrooge was wrong, and his Nephew Fred was right. While it's true the benefits of feasting with friends and family can't be calculated in a ledger, that doesn't mean those things have no value.