The law of comparative advantage tells us that no matter how much more productive they are than the rest of us, even people who are very productive can be made better off by trading with people who are not.
Bernstein's book takes us outside the here and now and helps us understand the big picture, and he does this by looking at the details of goods traded in lands far away in all times.
Jeffrey Tucker interviews Kevin Duffy. Recorded 8 October 2008.
From “Choice in Currency: A Path to Sound Money”; the Mises Circle in Vancouver. Recorded 13 September 2008.
Within a militarist community there is no freedom; there are only obedience and discipline.
Interviewed on the The Joey Panto Show, 2 July 2008.
From Economic Calculation In The Socialist Commonwealth.
It seems that we may never rid ourselves of the broken-window fallacy, writes Mark Thornton.
As with everything else in life, competition among conceptual frameworks is very healthy, since it can quickly highlight when an economist is likely abusing his favorite technique.
Taking into account not just rapid domestic expansion, but also the sharp fall in the greenback, broad, dollar-denominated money supply went up on
