Value and Exchange

The starting point for the development of all economic theory is “human action is purposeful behavior.” The following reading is chapter 4 from An Introduction to Austrian Economics by Thomas C. Taylor.

The following reading is selected from Principles of Economics, chapter I, “The General Theory of the Good,” by Carl Menger.

The following reading is selected from Principles of Economics, chapter I, “The General Theory of the Good,” by Carl Menger.

Wesley Schlemmer joins Good Money to discuss how Bitcoin Bay is helping Tampa residents convert Bitcoin into real goods and services, including locally raised beef.

Per Bylund joins Bob to discuss his new paper at the QJAE, which points out several flaws in the MMT claim that money is valued in order to pay taxes.

Bud Light executives thought customers wanted the beer to partner with a "transgender" celebrity. Or executives simply didn't care what customers thought. In any case, executives are now paying the price. 

Modern Western culture is dominated by demands for "social justice." But how does one even define this term, and does social justice even produce justice in the end?

Other psychic factors being equal, it is to everyone's self-interest to maximize his monetary income on the market. But this maximum income can then be used for either “selfish” or for “altruistic” ends.

We're still living with the consequences of the massive monetary inflation by Trump and Biden. Prices are stubbornly high, and falling real wages are driving Americans to say things are getting worse.

Money is simple. The political program of monetary "policy" is not.