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The Theory of Idle Resources

BooksFebruary 1, 2011
Hutt's demolition of the heart of Keynes makes for fascinating reading. Both the Keynesian proposition and the response are still very much in play today...

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Government vs. Natural Resources

Institute PublicationsDecember 1, 1986
It is a common myth that the near-disappearance of the whale and of various species of fish was caused by "capitalist greed," which, in a short-sighted grab for profits, despoiled the natural resources—the geese that laid the golden eggs—from which those profits used to flow...

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Five Erroneous Ways to Argue About Resource Economics

Institute Publications
This paper examines several problematic aspects of George Reisman’s Capitalism: A Treatise on Economics , specifically, five problems in the economics of natural resources...

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Conservation, "X-Inefficiency" and Efficient Use of Natural Resources

Institute Publications
The early conservation movement in the United States was initiated by Theodore Roosevelt in 1908 when he called together a conference of state governors. The premise of the conservation movement, sometimes pointed to as Roosevelt's most lasting achievement, was that natural resources are being...

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Resource Allocation: A Hayekian Paradigm for Maritime Conglomerates

Institute Publications
This article provides a new synthesis between the strategic management literature and Austrian capital theory. The resource allocation process plays out in the context of differing subunit preferences

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Firms, Strategies, and Resources: Contributions from Austrian Economics

Institute Publications
Austrian economics has important contributions to make in two particular areas — to the theory of rent and to an understanding of the meaning of equilibrium. The legacy of perfect competition casts a long shadow, inhibiting an adequate understanding of the dynamic market process in which rent...

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Book Review: Energy: The Master Resource by Robert L. Bradley

Institute Publications
Almost nowhere, however, are lay readers presented with a more sober and realistic perspective according to which the institutional framework of market economies has always been conducive to greater resource

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The Review of Austrian Economics

Method versus Methodology: A Note on The Ultimate Resource

Institute PublicationsFebruary 26, 1987
The Review of Austrian Economics , Volume 1, Number 1 (1987)

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Environmental and Resource Economics

Audio/VideoJuly 22, 2015
Recorded at the Mises Institute in Auburn, Alabama, on 22 July 2015.

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6. The Depletion of Natural Resources

Online Text Page from Man, Economy, and State, with Power and Market

One category has been purposely omitted so far from the discussion of land factors. At first, we defined land as the original, nature-given factor. Then we said that land which had been improved by human hands but which is now permanently given must also be considered as land. Land, then, became the catallactically permanent, nonreproducible resource, while capital goods are those that are nonpermanent and therefore must be produced again in order to be replaced.

7. Maximizing Income and Allocating Resources

Online Text Page from Man, Economy, and State, with Power and Market

We have seen that, in the money economy, other things being equal, men will attempt to attain the highest possible money income: if they are investors, they will try to obtain the largest net return; if they sell their labor service, they will sell it for the largest return. The higher their money income, the more money they will have available for expenditure on consumers’ goods. Before we proceed to a deeper analysis of the money economy, it is important to examine the “other things being equal,” or the ceteris paribus, qualification.

2. Resource-Using Activities: Government Ownership versus Private Ownership

Online Text Page from Power and Market: Government and the Economy, Ch. 5. Binary Intervention: Government Expenditures

The bulk of government activities use resources, redirecting factors of production to government-chosen ends. These activities generally involve the real or supposed supply of services by government to some or all of the populace. Government functions here as an owner and enterpriser.

Anatomy of the State

BooksJuly 20, 2005
Anatomy of the State gives a succinct account of Rothbard’s view of the state. Rothbard regards the state as a predatory entity. It does not produce anything but rather steals resources from those engaged in production...

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Environmental and Resource Economics

Audio/VideoJuly 24, 2014
Recorded at the Mises Institute in Auburn, Alabama, on 23 July 2014.

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Defense, Controls, and Inflation

BooksNovember 1, 2010
A mobilization program is to be judged by three principal criteria: the rapidity and efficiency with which the required resources are allocated to the defense effort, the extent to which inflation is prevented, and the extent to which other inequities and hardships are minimized.

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Profit and Loss

BooksOctober 22, 2008
Mises explains how cost accounting is the critical institution that ferrets out social waste, ensures that resources are directed to their most highly valued ends, and how entrepreneurs respond to price signals.

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Environmental and Resource Economics

Audio/VideoAugust 6, 2005
Recorded at Mises University 2005.

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Environmental and Resource Economics

Audio/VideoJuly 13, 2005
Recorded at Mises University 2004.

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