Value and Exchange

Displaying 1 - 10 of 810

How Modern Economics Has Lost Its Way: It's All About the "Unseen"

Bureaucracy and RegulationValue and Exchange

Blog05/19/2020

The difference between modern economics and proper economic thinking lies in taking the step that comes after arriving at the "unseen," to the "unrealized."

Read More

Money Velocity and Prices

Production TheoryValue and Exchange

Blog05/09/2020

Prices and purchasing power are determined by how individual consumers value goods and services. The "velocity of money" won't help us understand prices or the money supply.

Read More

What Is the Good Entrepreneur to Do?

The EntrepreneurValue and Exchange

Blog04/04/2020

Some anticapitalists have tried to claim "good" entrepreneurs don't make profit the primary goal. Yet, without profit, an entrepreneur cannot serve the people who depend on him or her for goods and services.

Read More

Why "Social" Entrepreneurship Is No Substitute for "Market" Entrepreneurship

EntrepreneurshipPricesValue and Exchange

Blog03/14/2020

Market entrepreneurship is what generates net value in society, whereas social entrepreneurship is primarily the use of that value. 

Read More

When It Comes to Raw Power, Few Have More of It Than Central Bankers

Media and CultureSocialismValue and Exchange

Blog02/22/2020

Anticapitalists often complain that people with more money exercise power over people with less money. Yet these same people seem oddly untroubled by the fact that central bankers can manipulate the money supply at any time to enrich themselves at everyone else's expense.

Read More

Government "Fixes" for the Trade Balance Are Worse Than Any Trade Deficit

Protectionism and Free TradeValue and Exchange

Blog02/14/2020

The national trade account balance is of little economic significance and is a sterile concept. But the government’s attempts to "fix" it can have many harmful effects.

Read More

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.

Read More

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.

Read More

Do People Really Seek to Maximize Profit?

Calculation and KnowledgeValue and Exchange

Blog02/04/2020

Economics is not intent upon pronouncing value judgments. It aims at a cognition of the consequences of certain modes of acting.

Read More

How Keynesian Ideas Weaken Economic Fundamentals

Other Schools of ThoughtProduction TheoryValue and Exchange

Blog02/03/2020

There is productive consumption and there is non-productive consumption. In the Keynesian mind, it's not necessary to produce anything, so long as people spend and consume endlessly, even to the point of destroying real wealth.

Read More
Shield icon library