Value and Exchange
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Liberty and Charity
Those who wish to use government power to redistribute income in directions they choose (almost everyone, today) must abuse others’ rights, b
How Government Budget Deficits Reduce Wages and Raise Profits
In recent years there have been growing complaints over slow growth in wages compared to profits.
Interventions are always losers
One truism has never been successfully challenged: Government interventions lead to a less efficient, less well-ordered society.
1. Objective and Subjective Value
Praxeology is a set of conceptual tools about the theory of action. It is the basis of economic theory. Whereas much has been fleshed out about the economics of human action, there is little about the ethics and natural rights of human action.
The New York Times: It Just Can’t Stop Hating Success and the American Way of Life
To combat climate change, we need to break our addiction to consuming oil, while developing countries need to break their addiction to sel
2. Exchange and Demand
All action is exchange, even forced exchange like slavery, taxes, eminent domain and conscription, where only one party gains. The Law of Marginal Utility tells us how many exchanges will be made.
1. Scarcity, Choice, and Value
In this introduction to the basics of Austrian-school economic analysis, Joseph Salerno introduces a number of basic concepts including utility, exchange, psychic cost, choice, and marginal value.
2. The Libertarian Creed: Property and Exchange
From the book For A New Liberty: The Libertarian Manifesto, as narrated by Jeff Riggenbach.
