Production Theory / Per Bylund

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Rick Perry — and His Critics — Still Don't Understand Say's Law

Free MarketsProduction Theory

How do you do away with a “Law” that had been core to economists’ understanding of the market economy for 150 years? You misrepresent it.

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Who is Jean-Baptiste Say?

BiographiesMoney and BanksHistory of the Austrian School of EconomicsProduction Theory

Per Bylund explains the many contributions of Jean-Baptiste Say, a precursor to the Austrian school of economics.

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The Firm and the Division of Labor

Free MarketsEntrepreneurshipProduction Theory

10/05/2011Mises Daily Articles
We have to make a fundamental choice: we can either engage in the social division of labor and contribute to our own and society's overall prosperity, or turn our backs on civilization and live the nasty, brutish, and short life that awaits.

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The Division of Labor and the Firm: An Austrian Attempt at Explaining the Firm in the Market

Production Theory

07/30/2014Quarterly Journal of Austrian Economics
This paper reviews Austrian approaches to the firm and drafts a theory that emphasizes the firm as a market phenomenon. Here the firm is a vehicle for imaginative entrepreneurs to create artificially high factor density,


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