Value and Exchange

The Salamanca School is known for important contributions to free-market economics and the Austrian School. The Bolognese jurists also made key contributions. 

Bob quotes from David Ricardo to show that the classical economists understood that utility was essential to explaining market value, but then he also explains why the Marginalist Revolution was a scientific advancement.

Bob goes solo to give the historical context and true meaning behind "Say's Law," as well as the caricature presented by Keynesian critics.

Praxeology is the science of human action.

"Price theory is the cornerstone of the foundation of economic calculation."

People seem to universally agree that equality is good and inequality is bad, but no one seems to know what that means.

Robert Reich is an economic fallacy machine, and he has begun a ten-week series in which he claims to debunk economic myths. Of course, to do so, he has to create economic myths and present them as factual.

Robert Reich is an economic fallacy machine, and he has begun a ten-week series in which he claims to debunk economic myths. Of course, to do so, he has to create economic myths and present them as factual.

Praxeology is the key to understanding economic relationships. While Ludwig von Mises emphasized human action while making economic observations, Christian philosopher Francis Schaeffer emphasized the importance of how individuals view the world.

In his new book Abundance, Generosity, and the State: An Inquiry into Economic Principles, Guido Hülsmann explains how mutual economic exchanges create gratuitous benefits. As David Gordon notes, Hülsmann’s insight is an important addition to economic understanding.