Chapter 7 Economic Calculation
Economic Calculation in the Socialist Commonwealth
2. The Nature of Economic Calculation
Every man who, in the course of economic life, takes a choice between the satisfaction of one need as against another, eo ipso makes a judgment of value.
Chapter 6 Emergence of Indirect Exchange
Human Action
The Epistemological Import of Carl Menger’s Theory of the Origin of Money
Carl Menger has not only provided an irrefutable praxeological theory of the origin of money.
Chapter 5 Capitalism: The Market Economy
Interventionism: An Economic Analysis
2. Capitalism or Market Economy
In the capitalistic economy the means of production are owned by individuals or associations of individuals, such as corporations.
Thousands of people recently demonstrated in Brussels against free trade deals negotiated by the EU. This happened just days before a meeting of EU trade ministers in Bratislava last month, which was considered the last push to salvage the Transatlantic Trade and Investment Partnership (TTIP) between the EU and the United States. Not only is Europe divided on the deal, but the talks have been extremely secretive.
Many protestors were especially opposed to the secrecy surrounding the trade deals.
Chapter 4 Society, Exchange, and the Division of Labor
Human Action
1. Autistic Exchange and Interpersonal Exchange
Action always is essentially the exchange of one state of affairs for another state of affairs. If the action is performed by an individual without any reference to cooperation with other individuals, we may call it autistic exchange.
Chapter 3 Action in Time
Human Action
1. The Temporal Character of Praxeology
The notion of change implies the notion of temporal sequence. A rigid, eternally immutable universe would be out of time, but it would be dead. The concepts of change and of time are inseparably linked together.
Chapter 2 Action and Value
Epistemological Problems of Economics
1. The Delimitation of the “Economic”
Investigations concerning the money prices of goods and services constituted the historical starting point of the reflections that led to the development of economic theory.
The Mises Reader Unabridged
Chapter 1 Human Action
Epistemological Problems of Economics
1. The Basic Concept of Action and its Categorial Conditions
The starting point of our reasoning is not behavior, but action, or, as it is redundantly designated, rational action. Human action is conscious behavior on the part of a human being.
For months, I have seen articles about the massive economic ignorance infesting candidates’ views and how they would “fix” what they think are the nation’s problems. They essentially say that neither candidate knows enough to pass an economics principles course, much less enough to advance Americans’ general welfare. I cannot disagree.
