Value and Exchange

Displaying 1 - 10 of 767

Billionaires Aren't Quite As Rich as We Think They Are

PovertyValue and Exchange

Blog04/30/2019

If the Wal-Mart CEO were to take a $1 salary and the company were to spread that over each of the company's workers, each worker would receive a one-time bonus of $10.

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How Human Action and Human Values Determine Prices

SubjectivismValue and Exchange

Blog04/20/2019

Prices are set by how much people value goods and services. And people value things based on what they think will improve their life and well-being. 

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Krugman Needs a Lesson on Why Truckers Are Paid Less Now than in the 1970s

Labor and WagesValue and Exchange

Blog04/18/2019

Truckers are paid less now than in the 1970s because government regulators once tightly controlled competition, thus driving up the cost of living for everyone else.

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Capitalist "Expropriation": Resentment versus Reality

Political TheoryValue and Exchange

Blog03/27/2019

Being resentful about a business transaction after the fact isn't the same thing as being exploited or abused.

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Ludwig von Mises on the Difference Between Entrepreneurs and Managers

The EntrepreneurPhilosophy and MethodologyValue and Exchange

Blog02/28/2019

When Mises noted that a manager is a "junior partner" of the entrepreneur, he did not mean to downplay the role of management in the economy.

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Time Is Money, Money Is Time

Money and BanksMoney and BankingValue and Exchange

Blog12/29/2018

We think the state is taking only our money, but it is also taking our time.

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Ebenezer Scrooge's Tiresome Crusade Against "Consumerism"

Media and CultureSubjectivismValue and Exchange

Blog12/25/2018

Scrooge was wrong, and his Nephew Fred was right. While it's true the benefits of feasting with friends and family can't be calculated in a ledger, that doesn't mean those things have no value.

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What Is Economic Growth? (And What Is It Not?)

EntrepreneurshipProduction TheoryValue and Exchange

Blog12/13/2018

Many seem to mistakenly think that economic growth has to do with GDP or producing stuff. It does not.

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Capitalism Means Less Waste — Because More Waste Means Less Profit

The EnvironmentProduction TheoryValue and Exchange

Blog11/17/2018

The concept of "productive complements" shows us how capitalists have long sought to make as much use as they can of every part of the materials they use to make goods.

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