Value and Exchange

Can Austrian economics explain selfless love?

Quarterly Journal of Austrian Economics 18, no.

Economist Jeffrey Sachs is complaining that some new drugs cost "too much." But after we sift through all the intellectual property rules, the FDA regs, and the government subsidies, it's impossible to guess what a "correct" price for the drugs might be.

When one CEO set his company's minimum wage at $70,000, some denounced the move as “socialism.” But the real situation is more complex than that, and we should look at how CEOs can use wages to achieve a variety of personal goals.

Capitalists generally think in terms of future earnings, and future value of investments often helps determine the present value. Hillary Clinton, however, has decided to achieve her short-term election goal by hectoring capitalists for thinking too much about the short term.

Recorded at the Mises Institute in Auburn, Alabama, on 20 July 2015.

Recorded at the Mises Institute in Auburn, Alabama, on 20 July 2015.

Apart from driving up prices, one of the main problems of subsidized government loans is the fact that a student can get the same loan terms for a high-risk degree in art history as for a safer degree in engineering.

While doctors and nurses become more scarce, the number of health care administrators continues to go up. The role of these administrators is to aggregate and centralize data, although there is no evidence this increases the value of health care.

Jurassic World is the latest film to portray deadly disasters supposedly caused by profit-seeking run amok. But would the private sector really produce a super-smart dinosaur that is likely to eat many of the customers?