[This article is a summation of arguments made in a recent academic publication in Small Business Economics Journal , entitled “Subjective Value and Entrepreneurship” by Drs. Per L. Bylund and Mark D. Packard .] What is the value of a pizza? If you asked a standard economist, they might—thinking themself quite clever—ask in return, “well, what
Abstract: The socalled autistic economy (here autarkic)—the economy of one—has been employed by Austrian theorists as a useful analytic baseline on which to build catallactic (market process) theory, which has included a theory of entrepreneurship. But so far, the autarkic economy has been examined almost exclusively in this way. In this article
[Este artículo es un resumen de los argumentos expuestos en una reciente publicación académica en Small Business Economics Journal, titulada « Subjective Value and Entrepreneurship » , de los doctores Per L. Bylund y Mark D. Packard ]. ¿Cuál es el valor de una pizza? Si le preguntas a un economista estándar, podría —creyéndose muy inteligente—
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.