Production Theory

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The Piracy Paradox

Capital and Interest TheoryEntrepreneurshipProduction Theory


My post Knock It Off discusses Jacob Sullum's Reason article about knockoffs in the high-fashion industry, and the lobbying by designers for copyright-like protection of clothing designs. A recent article in The New Yorker,...

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Giant Food Companies Welcome the Regulatory State

Big GovernmentInterventionismProduction Theory


"It's in our interest to have a strong FDA," said GMA (Grocery Manufacturers Association) President Cal Dooley, a former California congressman. "We need to have consumer confidence in the food products."

The ...

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Sacrificing Workers on the Competition Altar

Monopoly and CompetitionProduction Theory


The recent Whole Foods victory over the Federal Trade Commission may obscure the harsh truth that when antitrust regulators challenge a merger, the companies involved usually surrender, not fight. Among the "routine" merger...

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The Truth About Labor Day

InterventionismMonopoly and CompetitionProduction Theory


Labor Day is supposed to honor all American workers. And every year, union Labor Day rhetoric does just that. Unfortunately, it then makes the false leap to the claim that unions advance the interests of all American working men and women, not just their members. In fact, despite unions' pro...

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Breaking Bad Habits A Century Later

Media and CultureInterventionismProduction Theory


Paging through The Last Knight, Guido Hülsmann summarizes the dismal conditions, the zeitgeist of the tertiary educational system Mises endured at the University of Vienna:

The lectures were...

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Thomas Friedman on Addicted to Oil

The EnvironmentCalculation and KnowledgeProduction Theory


I recently saw Thomas Friedman's "Addicted to Oil" documentary on YouTube. A few nits to pick. First, of course, he unquestioningly buys into the global warming hype as one of the reasons we need to "do something." Second...

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Production Theory Quote of the Day

Production Theory

Production functions aren't given. They have to be discovered. This is what entrepreneurship is about; the superiority of Austrian over neoclassical economics lies in seeing this fact.

That's Chris Dillow,...

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The Can't-Do Government

Big GovernmentProduction Theory


On The Washington Post, John McQuaid has determined that the United States is now the can't-do nation. He starts by mentioning the recent bridge collapse in Minneapolis and...

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Nationalizing the Wine Industry

InterventionismProduction Theory


Since we know the monstrosities associated with government buildings, monuments, and state-built cars, surely then, we can imagine a Europe with a nationalized wine industry. Don't laugh; the European Union's top agricultural official...

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