While the standard secular narrative is that Christianity held back science and human development, history tells a different story, one of literacy and the development of human capital.
Antipoverty "strategies" like mandatory overtime pay, state-protected unionization, and opposition to labor-saving devices only serve to increase the cost of living for poor and rich alike.
The concept of capital is the fundamental concept of economic calculation, the foremost mental tool of the conduct of affairs in the market economy. Its correlative is the concept of income.
The average standard of living in this country is higher than in any other country of the world. This is because the per head quota of capital invested is in America higher than in other countries.
Some blame high prices, wages, the Ukraine war, or the weak recovery. The fact is currency destruction is at the heart of generalized price rises everywhere.
Murray Rothbard cuenta cómo durante la Guerra franco-indiana (1754-63), los americanos continuaron con la gran tradición de comerciar con el enemigo, e incluso con más facilidad que antes.
La refutación de Böhm-Bawerk de la teoría de la explotación es valiosa no sólo como crítica de una doctrina errónea, sino también como una lúcida exposición de la teoría del valor subjetivo.
El de Menger era un método analítico que comenzaba con los fenómenos empíricos más pequeños y procedía lógicamente a partir de ellos. Lo llamó «método empírico».
Menger's was an analytical method that began with the smallest empirical phenomena and proceeded logically from there. He called this the "empirical method."
