Subjectivism

Displaying 1 - 10 of 202

Putnam on Objective Ethics in Economics

Economic FreedomLiberalismSubjectivism

Blog04/08/2022

While Hilary Putnam was not a friend of free-market economics and remained a socialist throughout his life, he made important contributions to the subject of ethics.

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Modern Portfolio Theory: Economics without Praxeology

RationalismEntrepreneurshipPricesSubjectivism

Blog03/12/2022

Modern portfolio theory, while popular with many economists, runs into serious problems when examined through the lens of Austrian economics

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People Change Their Minds. That Doesn't Make Them Irrational.

SubjectivismValue and Exchange

Blog06/16/2021

Human beings do not have constant value scales, but change their goals constantly as the world around them changes. This habit of changing goals does not make a consumer "irrational."

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Rothbard's Underappreciated Contributions to Public Goods Analysis

Taxes and SpendingSubjectivismValue and Exchange

The assertion that “tax-financed public goods can make us all better off” is just that: an assertion. As Rothbard showed, there is no reason to just assume consumers would pay for these amenities were they not forced to through taxation. 

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The Problem of Measuring the Utility Gained from Taxes

Philosophy and MethodologySubjectivismValue and Exchange

Blog12/04/2020

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. 

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Why Marx Never Figured Out How to Distribute Goods in a Socialist Society

Calculation and KnowledgeSubjectivism

Blog11/28/2020

Contra Marx, Mises understood that human desires and needs are not determined merely by biology. 

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Mises and Moral Relativism

Philosophy and MethodologySubjectivism

Blog09/25/2020

Mises thought that social cooperation through the free market resulted in peace and prosperity, regardless of whether people or societies accepted this or not.

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A Fallacy about Negative Externalities

Philosophy and MethodologySubjectivism

Blog03/20/2020

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.

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Humans Have Goals. And They Value Goods and Services Accordingly.

PraxeologySubjectivismValue and Exchange

Blog02/10/2020

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.

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Brexit Voters Aren't As "Irrational" As Their Opponents Think

Global EconomySubjectivismValue and Exchange

Blog02/05/2020

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.

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