Barter – direct exchange- is inefficient because of the lack of a double coincidence of wants. Some third medium was sought to solve this. It is called money. Exchanges are not equal, they are win-win, with each party gaining more than he is giving or the exchange would not be made.
Mike Shedlock gives a rather Austrian-flavored explanat
Does gasoline at 10 cents a gallon and falling sound impossible in today’s world?
“Dad Dean” considers university tenure systems at insidehighered.com.
A book-length manuscript based on notes taken by Bettina B. Greaves during the Mises Seminar in New York in the 1960s.
As you may have heard, New York Senator Charles Schumer is on a campaign to slap a 27.5% tariff on all Chinese goods unless they significantly reva
