Mises Daily Friday: Government Save Us From “Overpriced” Chinese Food
Mises Daily Friday: Government Save Us From "Overpriced" Chinese Food
Value and Exchange
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Government Save Us From “Overpriced” Chinese Food
If a customer consents to paying a certain price at the time of purchase, he cannot later claim that he was overcharged. The fact that he was charged the right amount is clear in the fact that he consented to the purchase in the first place.
Cryptocurrencies and a Wider Regression Theorem
If cryptocurrencies like bitcoin are being used as money, and if Carl Menger correctly tells us that money must have some kind of antecedent value, then as economists it becomes our job to discover what exactly is that antecedent value. A fresh reading of Menger's Regression Theorem provides several insights.
The Economics of Tipping
Many people think that tipping is a results from stingy employers not paying a “living wage.” But tipping solves multiple economic prob
Tiny Houses May Signal a Big Change
Tiny houses are a growing phenomenon as potential homeowners look to cut down on housing costs in the face of an economy rife with booms, busts, and spiking asset prices.
3.5. The Augmentation and Diminution of the Denomination of Money
Raising and lowering the nominal value of money are methods by which the prince acquires resources by deceiving individuals about the value of money.
3.4. The Variations in the Proportion of Values with Regard to the Metals Used as Money
The price of gold and silver and the ratio between them is determined by markets and is also based on their usefulness, cost of production, and transportation costs.
2.8. Further Reflections on the Increase and Decrease of Money in a State
Increases in the supply of money from a balance of trade eventually causes prices to rise.
2.6. The Increase and Decrease of the Quantity of Money in a State
Cantillon uses his price-specie flow mechanism to analyze some of the effects of inflation.
1.16. The more Labor there is in a State, the more the State is Judged Naturally Rich
The wealth of a nation depends on putting the labor force to work.
