Gold StandardMoney and Banking
Works Published inMises Daily ArticleQuarterly Journal of Austrian Economics
Mateusz Machaj is a Fellow of the Mises Institute who received his PhD in economics from the University of Wroclaw. He is a founder of the Polish Mises Institute of Economic Education and five time Research Fellow of the Mises Institute (2005-2009). He received the Douglas E. French Prize and the Lawrence Fertig Prize in Austrian Economics. Dr. Machaj is the author of Capitalism, Socialism and Property Rights: Why Market Socialism Cannot Substitute the Market, Money, Interest and the Structure of Production: Resolving Some Puzzles in the Theory of Capital, and The Rise and Fall of the First Galactic Empire: Star Wars and Political Philosophy.
Per Bylund's new book makes a compelling Austrian argument that firms precede markets, and creates what reviewer Mateusz Machaj calls "an unlocking theory of the firm."
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Machaj, a contributor to McCaffrey’s The Economic Theory of Costs , replies to Israel to clarify and develop his point on imputed value and price formation.
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Calculation and Knowledge
Without the marketplace, we cannot calculate the value of workers, whether male or female. There is no "objective" measure of an employee.