Value and Exchange
Displaying 391 - 400 of 955
1.11. The Par Value or Ratio between the Value of Land and Labor
Only money— a “most certain measure”—can be used for income measurements and comparisons.
2.4. Further Reflection on the Rapidity or Slowness of the Circulation of Money in Exchange
A variety of factors affect the flow of money in circulation and this in turn affects the amount of money in circulation.
3.6. Banks and their Credit
Fractional-reserve banking is a system where the banks lend some of their deposits and earn interest, but it comes with risks.
Diversity in Goals Brings Diversity in Value
Every person has different goals for himself, which means everyone will value differently the means to attain those ends.
Diversity in Goals Brings Diversity in Value
Every person has different goals for himself, which means everyone will value differently the means to attain those ends. No central planner can know these goals and values.
A Critique of Monetarist and Austrian Doctrines on the Utility and Value of Money
From The Review of Austrian Economics Vol. 1, No. 4, 1987.
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 problems while making employers more likely to hire untried workers.
Understanding “Quid Pro Quo”
The term “quid pro quo” has been twisted to now include government handouts and state-mandated exchanges, writes Gary Galles.
Understanding “Quid Pro Quo”
The terms "quid pro quo" has been twisted to now include government handouts and state-mandated exchanges, so long as the value of goods trading hands are deemed to be of "equal value." True voluntary exchange, on the other hand, is something quite different.
