Value and Exchange

To combat climate change, we need to break our addiction to consuming oil, while developing countries need to break their addiction to sel

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.

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.

A noted economist, Prof.

From the book For A New Liberty: The Libertarian Manifesto, as narrated by Jeff Riggenbach.

Does gasoline at 10 cents a gallon and falling sound impossible in today’s world?

Trade deficits indeed present no problem as long as they get financed, writes Antony Mueller. 

Of all accusations against the system of Free Trade and Private Property, wrote Ludwig von Mises, none is more foolish than the statement that it is anti-social and individualistic and that it atomizes the body social.

Contrary to Paul Krugman and his friends, economic inequality that results from economic freedom is in the material self-interest of everyone, writes George Reisman.

Paul Craig Roberts's latest article, writes Robert Murphy, issues the direst warnings and hurls the strongest insults yet.