Value and Exchange

There’s no doubt that prosperity has smiled brighter and brighter on the last four generations.

That Doherty has been badly misled by his credulity and by his investigative and interpretive derelictions is substantiated in an oddly telling review of his book by Fink protégé Tyler Cowen who, according to Doherty (2007, p. 579), "arose from the George Mason University, Koch-funded, Austrian economics program, and is currently president of the [Koch-funded] Mercatus Center."

At least it will give us something to do until we figure out where next to hitch up the engine of inflation. At which point we can once again cast off the hair shirts, put on our gladrags, and throw another wild, exuberant, but ultimately destructive, orgy of high living and hot money — and devil take the hindmost!

What could these two thinkers, considered to be opposites, have in common?

Yesterday the president of the Open Source Initiative attempted to show how the philosophy underscorin

Recorded at Mises University 2007.

Recorded at Mises University 2007.

Recorded at Mises University 2007.

Chris McGreal reports from Harare:

In this first lecture of a series of lectures covering the basics of applied Austrian economics,  Joseph Salerno introduces a number of basic concepts including utility, exchange, psychic cost, choice, value, and marginal utility.