Why Socialist Calculation Is Always Impossible
True economic value begins in the minds of individuals, and only individuals can predict, plan, and act in the marketplace.
True economic value begins in the minds of individuals, and only individuals can predict, plan, and act in the marketplace.
Recycling isn't free. It requires the use of time and resources, many of which end up wasted. But politicians keep insisting that recycling is always a win-win, even though we have many examples to the contrary.
People buy things that reflect their value systems — values learned in homes and other non-market institutions. Meanwhile, markets don't force anyone to buy anything.
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.
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.
Competition and cooperation and not two things in conflict. They are both essential ingredients in a society based on voluntary action instead of violence.