The Nature and Origin of Subjective Value
[This article is excerpted from The Positive Theory of Capital, book 3, chapter 2, “Nature and Origin of Subjective Value.”]
Is Greater Productivity a Danger?
It is bad enough that opponents of the free market wrongly blame capitalism for environmental pollution, depressions, and wars. Whatever the failings of their causal theories, at least they are focused on undoubtedly bad things. We have really gone beyond the pale, though, when the market is blamed for something good.
If Only Edward Gibbon Could Have Read Mises
Thanks to Ed Smith for pointing out this passage in the Decline of the Rome Wikipedia article:
Historian Michael Rostovtzeff and economist Ludwig von Mises both argued that unsound economic policies played a key role in the impoverishment and decay of the Roman Empire.
Rothbard Informing the Health Care Debate
From an Association of American Physicians and Surgeons (AAPS) press release:
TUCSON, Ariz., June 4, 2012 /PRNewswire-USNewswire/ -- The late libertarian economist Murray Rothbard wrote that laws are generally passed to grant some privilege to those who advocate them. So we must always ask “Who benefits?” writes G.
A Night of Moral Philosophy with David Gordon
Over 500 people registered for David Gordon’s free webinar What is Morality? The Ethics of Hazlitt, which happened on Friday; and over 225 of the registrants attended live (the rest will be able to catch up with the recording). David’s lecture was full of penetrating insights, and hilarious scholarly asides. He shined a great deal of light on an important, but neglected book (Hazlitt considered it his most important).
Running on the Euro
Wary depositors have been hauling billions of Euros out of Greek and Spanish banks over the past few weeks. Since 2009, Greek depositors have withdrawn $4 million a month from that nation’s banks, while Spanish bank customers pulled 31 billion euros from Spanish banks in April alone.
The Secession Solution
The problem with a statewide referendum on any matter, is that it implicitly assumes that the state is the appropriate unit for collective decision making.
The Washington 1 Percent
Those living off the state believe the good times will never end. Trillion-dollar deficits beg to differ.
Molinari Translated
Evenings on Saint Lazarus Street by Gustave de Molinari, who Rothbard called the first anarcho-capitalist, is being translated for the Online Library of Liberty. You can find an online preliminary draft here. (Thanks to Roderick Long.)
Hayek’s Law or Rothbard’s Wisdom : A Revisit
In Michael Pollaro’s otherwise excellent Mises Daily, “The Bernanke Bust” Michael writes, “To Austrians, all [emphasis original] economic “booms” founded on monetary largesse always [emphasis original] end in economic busts, roughly equal in size and intensity to the preceding booms[emphasis mine].” Such
