Value and Exchange

Robert Murphy concedes that it is theoretically possible that an expanded global marketplace could make one country less wealthy on net. However, there are other considerations.

The average family will spend about $1000 on Christmas gifts, writes Lew Rockwell, and much of what we buy might be described as rather shoddy. Paradoxically, this is not a bad thing but a sign of rising wealth.

Most everyone assumes that capital exploits labor, writes Vlad Menshikov. But this point of view is completely wrong. 

Robert Murphy asks: what do various proposals to regulate trade all have in common? They are all attempts to prevent people from cooperating with each other.

The oft-heard tale about the sad plight of labor as versus capital is almost entirely false, writes Thomas Woods, author of a new book on American history.

Many people have said that the collapse of the Soviet Union proved that Mises was correct. New research into the origins of writing, writes Gene Callahan, provides clues that allows us to formulate Mises's argument concerning calculation more precisely. 

Day in and day out, for hundreds of years, pawnbrokers have engaged in a perfectly legitimate business, write Glen Tenney.

It is the Mises Institute's great pleasure to introduce Carl Menger's 1871 book Principles of Economics to an online audience.

Many say that markets are fine from day to day but not during exceptional events. But Lew Rockwell finds that markets love nothing more than a challenge that offers a profit opportunity.

Neoclassical economists often make matters more complicated than necessary; but, fortunately, the best of them manage to stumble close