Value and Exchange

Man gives to other men in order to receive from them. Mutuality emerges. Man serves in order to be served.

The absence of market discipline in medicine cannot last. Governments and the medical cartel have successfully used fear to maintain control.  Fear has kept the masses from rising up. Until now. 

Arguments for equal pay are popular in our body politic, but what happens if some of those arguments are based upon the faulty logic of the labor theory of value?

Arguments for equal pay are popular in our body politic, but what happens if some of those arguments are based upon the faulty logic of the labor theory of value?

Murray Rothbard recounts how during the French and Indian War (1754–63), Americans continued the great tradi­tion of trading with the enemy, and even more readily than before.

In 1950, Ludwig von Mises warned against increasing the costs of labor via pension programs and Social Security. This article is online for the first time.

So many to choose from but Scott Trask picks ten of the most glaring economic errors that have bespotted the history of American economic policy.

The concept of diminishing marginal utility is the essential building block of economics. But there is a difference in the way this law is discussed by mainstream economics and the Austrian School.

Immense damage has been done to economic theory by the error of believing the "labor theory of value." Our work is not what gives value to goods and services. It's the other way around.

Because people strive to improve their condition, they exchange goods and, in this sense, they create the necessary conditions for the emergence of prices. Prices are simply an unintended consequence of the human quest to improve one's life.