Prices

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Price Spreads and Brokers

Prices

Blog03/24/2005

On a recent visit to San Jose State University, I sat in on a Money & Banking lecture by Jeffrey Rogers Hummel. (I am assuming he doesn't mind me discussing this here...) He drew a supply-and-demand diagram for the housing market, and said that due to transactions costs, the number of...

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Long Lines and Cleared Markets

Prices

Blog02/09/2004

It is sometimes said that long lines at theaters, sports events, and amusement parks are signs of a market that is not clearing and that prices should be raised. In fact, people pay in a combination of money and time costs, that's all. With a moderate-income clientele it makes sense for some...

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Austrian Microeconomics

Austrian Microeconomics

Online Course
Taught by Dr. Peter G. Klein, this course provides a systematic overview of Austrian microeconomics.

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Charity Needs Markets

Philosophy and MethodologyPricesValue and Exchange

06/13/2016The Austrian
Even if everyone were totally charitable, we still could not build a complex economy without the price mechanism provided by markets.

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Economics: It's Simpler Than You Think

Money and BanksMoney and BankingPricesValue and Exchange

03/30/2016The Austrian
A successful economy depends on innovative entrepreneurs who are willing to take large risks in return for the chance at great profits.

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Job Growth Doesn’t Mean We’re Getting Richer

Taxes and SpendingU.S. HistoryPrices

03/25/2016Mises Wire
In an unhampered economy, we would measure economic progress by a need for fewer work hours and fewer jobs. In our mixed economy, it's impossible to say whether more jobs reflect an improving or a worsening economy...

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The Efficient Market Conjecture

Calculation and KnowledgePrices

03/22/2016Quarterly Journal of Austrian Economics
The aftermath of the recent recession has brought renewed skepticism to EMH, even leading some to redefine it as the “inefficient” market hypothesis. We demonstrate that such a course of action is misguided...

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Including the Ocean Floor, the Feds Own Much More Land than You Think

U.S. HistoryPricesValue and Exchange

03/17/2016Mises Wire
The US government owns immense amounts of dry land, but the US government also owns far larger amounts of ocean floor. Government ownership of such immense amounts of natural resources causes substantial distortions to prices and markets.

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Why Women Pay Higher Prices for the "Same" Products

PricesSubjectivismValue and Exchange

02/19/2016Mises Wire
Do women really pay more than men for the "same" goods and services? No. Not only are these supposedly identical goods not actually identical, but the consumers value them differently, leading to different prices...

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