Value and Exchange

The body-weight crusaders continue their Quixotic struggle, writes Gard Goldsmith, because they believe in the Marxist myth that the owners of the means of production make people buy things.

Stefan Karlsson considers the income effect and concludes that its very existence demonstrates the failure of the state to improve the social order.

Congress just passed another regulatory bill, Lew Rockwell reports, because people with food allergies are under the impression that food sellers are indifferent to whether they live or die.

So now we are supposed to worry about those deprived of chain supermarkets. William Anderson notes how the academic left shifts gears.

Did the EU bring free trade to Europe? Not at all, says Terry Arthur. The heyday of free trade was the 100 years between the Napoleonic Wars and World War 1.

Neoclassical economists often make matters more complicated than necessary; but, fortunately, the best of them manage to stumble close to the truth. Jagdish Bhagwati is by no means a committed supporter of the free market. 

It is entirely within coffee-bean buyers' rights to pay any price, including an inflated price, writes Joesph Potts.

Most people assume that gifts are wonderful to receive. But this view has recently come under attack, reports Robert Murphy finds riddled with fallacy.

Bill Buckley and Irving Kristol revealed why they are not drawn to free-market logic: they find it dull. But economics is no more dull than life itself, writes Lew Rockwell.

It was reported last week that the M3 money supply has increased at a breathtaking 20% annual rate in the last 4 weeks, going up $155 billion. Coincidently (or not), the Bureau of Land Management (BLM) held another of its semi-annual land auctions in Las Vegas.