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Where Lies This Fault?

BooksJune 21, 2013
This professionally prepared ebook is an electronic edition of the book that is designed for reading on digital readers like Nook, Kindle, iPad, Sony Reader, and other products including iPhone and Android smart phones. The text reflows depending on your font preferences and it contains links from...

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14. Unemployment and the Height of Wage Rates

Online Text Page from Economic Freedom and Interventionism, Ch. II. Interventionism

Public opinion, misguided by the fanatical propaganda on the part of the deadly foes of freedom and prosperity, looks upon the disputes concerning the height of wage rates as if they were only conflicts between wage earners and employers. It ascribes to the employers the power to determine wage rates ad libitum. It fails to realize the fact that the entrepreneur is not sovereign in the conduct of his enterprise but entirely subject to the most rigid orders given by his customers, the public.

Three Lectures on the Rate of Wages

BooksJanuary 8, 2010
The inquiry into the causes affecting wages is the most important branch of political economy.

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The Rate of Interest: Its Nature, Determination, and Relation to Economic Phenomena

BooksMarch 11, 2011
The problem of interest has engaged the attention of writers for two thousand years, and of economists since economics began. And yet, with the exception of what has been accomplished by Rae, Bohm-Bawerk, Landry, and some others, very little progress has been made toward a satisfactory solution.

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Walk Away: The Rise and Fall of the Home-Ownership Myth

BooksNovember 18, 2010
This elegant and fact-filled book by Doug French examines the background to the case of "strategic default," or walking away from your home, and considers its implications from a variety of different perspectives...

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The Moral Case for the Free Market Economy

BooksJuly 6, 2006
Tibor Machan makes the case for the free market system of economics based on the view of human beings as moral agents with the legal system of a good community as designed to nurture this moral agency.

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The New Despotism

BooksMarch 16, 2010
When the modern political community was being shaped at the end of the 18th century, its founders thought that the consequences of republican or representative institutions in government would be the reduction of political power in individual lives.

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The Limits of Economics

BooksMarch 29, 2009
Economic policy consists in all those actions and measures which aim, outside or quite independently of the economic interests of their framers, at bestowing advantages (rarely disadvantages) on a chosen group of economic subjects or entrepreneurs, and of which the motive lies primarily in this...

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The Return to Laisser Faire

BooksJune 5, 2009
Government means, or should mean, the right ordering of all. Modern government has degenerated into tinkering with the wants or rights or liberties of classes or sections or groups, and it is rare, in these days, to hear a political discussion which takes adequate account of the interests of the...

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How to Keep Our Liberty

BooksJuly 17, 2009
"Individualities may form communities, but it is institutions alone that can create a nation." This was a comment by Benjamin Disraeli a century ago when he was beginning the task of building the Conservative Party, a party that still lives a lusty, constructive life...

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Two Essays

BooksJune 15, 2009
This book presents two essays by the late Röpke published in 1951 and 1957: "The Problem of Economic Order" and "Welfare, Freedom, and Inflation". The justification for republishing them lies in the fact that they are still very relevant, especially now that the prevailing drift...

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The Theory of Prices: A Re-Examination of the Central Problems of Monetary Theory, Vol. I

BooksSeptember 3, 2009
There can be little doubt, however, that a principal reason why something less than the maximum use is made of tools lying ready to our hand is that many of those who should be using them refrain from doing so only because they are not aware of the fact that the nature of these tools has been...

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Interest and Prices

BooksMarch 30, 2007
It was this work by Swedish economist Wicksell that drew Mises's attention to the effects of interest rate manipulation on the capital structure.

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Capital and Interest

BooksJuly 20, 2005
Böhm-Bawerk surveys and critiques failed theories of interest from antiquity to modern times, presents a full theory of the structure of production, and defends the importance of capital in production and time in the determination of the interest rate.

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The De Moneta of Nicholas Oresme and English Mint Documents

BooksFebruary 14, 2009
Nicole Oresme has been called the most brilliant scientist of the 14th century: mathematician, musicologist, physicist, philosopher, and economist. On top of that, he was a Bishop and a theologian. His writings of money bear much in common with Carl Menger. Oresme's treatise on money, De Moneta...

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The Economics of Enterprise

BooksJune 16, 2009
From the author: In questions of economic theory the writer conceives himself, as among his colleagues of the craft, to be in essentials rather a conservative than an innovator. The Socialists, indeed — with whom he disclaims all theoretical sympathies — seem to him to be the ultra-...

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Appendix: Balance of Payments and Foreign Exchange Rates

Online Text Page from The Causes of the Economic Crisis, and Other Essays Before and After the Great Depression, Ch. 1. Stabilization of the Monetary Unit — From the Viewpoint of Theory (1923)

The printing press played an important role in creating the means for carrying on the war.29 Every belligerent nation and many neutral ones used it.

The Gold Standard: Myths and Lies

Mises DailyJune 13, 2011
The gold standard is more politically relevant than it has been in decades — so now the falsehoods spread.

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III. The Function of Prices, Wage Rates, and Interest Rates

Online Text Page from The Causes of the Economic Crisis, and Other Essays Before and After the Great Depression, Ch. 5. The Trade Cycle and Credit Expansion: The Economic Consequences of Cheap Money (1946)

The rate of interest is a market phenomenon. In the market economy it is the structure of prices, wage rates and interest rates, as determined by the market, that directs the activities of the entrepreneurs toward those lines in which they satisfy the wants of the consumers in the best possible and cheapest way. The prices of the material factors of production, wage rates and interest rates on the one hand and the anticipated future prices of the consumers’ goods on the other hand are the items that enter into the planning businessman's calculations.