[This is an excerpt from an essay that was originally published in the Annals of the American Academy of Political and Social Science, volume 1 (1891).]
The question of the relation of cost to value is properly only a concrete form of a much more general question — the question of the regular relations between the values of such goods as in causal interdependence contribute to one and the same utility for our well-being.
[Journal of Libertarian Studies, 1977.]
David Gordon covers new books in economics, politics, philosophy, and law for The Mises Review, the quarterly review of literature in the social sciences, published since 1995 by the Mises Institute. He is author of The Essential Rothbard, Resurrecting Marx, and The Philosophical Origins of Austrian Economics. He has also edited Secession, State and Liberty and Strictly Confidential
If you were not a scholar then what do you think you would be doing now? Do you have any hobbies?
From the Economist: “America’s universities lost their way badly in the era of easy money. If they do not find it again, they may go the way of GM.”
Edmunds Daily is reporting 10-40% increases in used car prices over last year. H/T J Jacoby.
When tallying up the “total costs” of a government operation, proponents will typically include only the most obvious items, whereas opponents will throw in the kitchen sink. The obvious motivation is to make the operation look relatively cheap (for the proponents) or horribly expensive (for the opponents).
[This is an excerpt from an essay that was originally published in the Annals of the American Academy of Political and Social Science, volume 1 (1891).]
Back in the boom, Sin City’s population grew by nearly 200 each day. The Las Vegas metro area had a population of just over 1.2 million in 1998 and a decade later it was nearly 1.9 million.
But now with an unemployment rate approaching 15%, the gambling capitol’s hot roll has 7nd-out. The Las Vegas Sun reports, “a slow but steady stream of Las Vegans is moving away in search of better luck.”
It’s a fascinating list put together by Economics of Contempt. Perhaps it is biased but I note the number of free-market thinkers here, people with a supply-side bias who do not have the Austrian theory of the business cycle figured into their intellectual apparatus.
