Value and Exchange

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.

Economic giant Robert Solow died in December 2023. He was a Nobel laureate, and four of his PhD students went on to also receive the Nobel. He is known for the growth model named in his honor. 

Robert Murphy explains how traders make money in a world of uncertainty and diabolical risk.

Robert Murphy explains how traders make money in a world of uncertainty and diabolical risk.