Value and Exchange

Displaying 821 - 830 of 949
Tibor R. Machan

Do you remember, asks Tibor Machan, when America was called the leader of the Free World? It seems like so long ago. Now the USA is the leader of the protectionist world, the very opposite of free, at least where international commerce is concerned. 

Christopher Mayer

To speak about average prices is like talking about average precipitation to a golfer, writes Chris Mayer. It either rains during a specific time period or it doesn't. There is no average that is anyway useful for an acting human being on a golf course. The only information that counts is what it is doing right now while he is teeing off. It is the same with prices.

Hans F. Sennholz

No one can contend that the Federal Reserve System has brought economic stability or conquered the trade cycle, writes Hans Sennholz. On the contrary, its critics are convinced that a politically conceived and administered money monopoly, such as the Federal Reserve System, is the worst of all money systems. It will breed business cycles as long as it lives.

Christopher Coyne

In a market society, any distinction of classes only serves to represent some snapshot in time as movement between classes is continually fluctuating, writes Christopher Coyne. This is in stark contrast to the non-market caste system where affiliation with a class or caste is hereditary and largely unchanging.

Mark Brandly

Hardly a day goes by when Mark Brandly doesn't observe confusion on the subject of international trade, from pundits who blame it all of American economic and social to those who think trade can only thrive in the context of treaties and war. This primer corrects most of the big mistakes.

 

Gary Galles
The constant drumbeat of housing "investigative reports," cut from their common mold, would be almost farcical, if the problems were not so serious. But the fact that those problems exist today is deplorable, because they are the result of willful ignorance of what has long been understood about the housing market. 
Adam Young

It's a neat trick, writes Adam Young: the media sell a certain viewpoint, then take a poll and cite public opinion to illustrate that, yes indeed, the public agrees with what it has been told, and that the only solution is more government intervention.

George Reisman

It is never profitable--and therefore, never reasonable--for a business to refuse to do business that is profitable for it to do, writes George Reisman. To pretend that businessmen and their greed are nonetheless responsible for people not being supplied, and for people therefore suffering deprivation and even death, is to display an ignorance of elementary economic law.

Frank Shostak

The alarm raised by mainstream economists that corporate cost cutting will undermine the real foundation of the economy is based on a flawed view of the essence of savings. On the contrary, writes Frank Shostak, cost cutting is an important means in correcting previous erroneous decisions so that real wealth can be generated again.

Christopher Mayer

There is something about monetary phenomena that make them a particularly misunderstood aspect of economic life. Deflation is no exception. There seems to be little understanding as to what it is, what causes it, and whether or not it is something that should be prevented. The effects of deflation, like the quality of drinking water, cannot be considered without regard to its source.