Mises Wire

Returns, Refunds, and Opportunity Cost

The EntrepreneurEntrepreneurship

Blog06/28/2019

A business owner who cannot understand why a customer is not happy — or even very disappointed — with getting a full refund for a faulty product has failed to grasp some very fundamental economic concepts.

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Is There a Limit to How Big a Corporation Can Get?

EntrepreneurshipMonopoly and Competition

Blog06/27/2019

Natural constraints on firm size are numerous, and in a truly free market, large firms would be constantly prone to being broken up and put out of business by competition. And all to often, huge firms become more long-lived due to government intervention.

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Three Times the Price of Gold Collapsed — And Lessons for Today

Money and BanksGold StandardMoney and Banking

Blog06/25/2019

The gold price is heading up at the moment, but we can still learn a lot from three big collapses in the gold price which occurred after 1934.

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Why It's Important to Understand "Economic Costs"

Austrian Economics OverviewSubjectivismValue and Exchange

Blog06/20/2019

The concept of economic cost seems to confuse people. It is not the price you pay for a good, but the reason you pay it.

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Two Reasons Why Socialism Repeatedly Fails

Socialism

Blog05/29/2019

Socialism will always encounter two big problems when regimes attempt to implement it: 1) the impossibility of economic calculation without true market prices, and 2) the lack of an incentive to produce only what consumers actually want. 

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Central Banks' Forecasts Are Basically Garbage

Money and BanksMoney and Banking

Blog05/22/2019

Central banks' economic models repeatedly and incessantly over-estimate economic growth. We can only speculate as to their motivation.

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Tariffs Are Attacks on Property Rights and Freedom

Protectionism and Free Trade

Blog05/20/2019

Tariffs inflict harm on real people, empowering bureaucracy and the state, while destroying the rights of real-world entrepreneurs and consumers. Yet, some people claiming to support free markets are perfectly fine with this.

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