Value and Exchange

Recent minimum wage increases will both increase the cost of living and limit employment for low-skilled workers.

Not understanding how politics works will prove to be much more harmful than ignorance about how markets work.

As another step toward greater use of negative interest rates, the abolition of cash will only lead to the destruction of wealth.

The value of objects can change without any physical change to the object at all. I need only tell you that some junk you see is really art.

The NCAA is a powerful taxpayer-subsidized cartel that largely exists to deny the athletes the compensation they would earn in a working marketplace.

When it comes to trade, the best US policy, or that of any country, is the elimination of all barriers to imports.

Economists generally do not like high transactions costs. But they can be good when imposed on governments.

This approach to costs and action allows for a praxeological explanation of originary interest avoiding shortcomings of traditional Austrian analysis.

I fear we will make little progress politically or economically if the attachment to emotionalism does not change in favor of economic realism.

The government wants to arrogate to itself the power, which, in an economy, is in the hands of the consumers.