Three Economics Lessons I Learned from My Dad
Business owners understand that the key to prosperity is to reduce costs and deliver more goods to the customer. Wage workers, however, often want higher prices in order to "protect" their jobs.
Value and Exchange
Displaying 191 - 200 of 950
Charity Needs Markets
Even if everyone were totally charitable, we still could not build a complex economy without the price mechanism provided by markets.
Problems with Mainstream Theories of Supply and Demand
Despite its great appeal because of its simplicity, the supply-demand graphic as employed by mainstream economics is a tool that is detached from the facts of reality.
Marx’s View of the Division of Labor
The division of labor is what made the West rich and has kept it rich. It's telling that Marx planned to abolish the division of labor altogether.
Subjective Value Is not Arbitrary Value
The prices of goods are not set mechanically by some kind of supply-demand curves but by the goal-seeking choices of individuals.
Workplace Raids: A Big Problem with Immigration Enforcement
Workplace raids against employers of non-government-approved workers make a mockery of private property rights.
A Realist Approach to Equilibrium Analysis
This article offers an entirely realistic account of equilibrium analysis, thus closing a disturbing gap in economic science. Human choice involves a dichotomy of success and failure.
7 Lessons Business Owners Can Learn from Austrian Economics
As Mises knew, economics "concerns everyone and belongs to all" — and this definitely includes business owners.
Economics Doesn’t ‘Measure’ or ‘Predict’, It Explains
The purpose of economic science is not to resolve all social problems, nor does it have appropriate tools for this.
