Value and Exchange

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New York State Bans Fantasy Football

Legal SystemMedia and CulturePrivate PropertyValue and Exchange


New York State Attorney General says that fantasy football is just as bad for you as the State Lottery. The lottery is actually much worse!

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Mises Daily Monday: To "Give Back," Add Real Value

PricesValue and Exchange


Mises Daily Monday by Peter St. Onge. "Giving back" is big these days, but how can we know if we're really making a contribution that someone values?

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Et Tu, Helvetia?

Money and BanksMoney and BankingValue and Exchange


Soon you will no longer be able to purchase Switzerland's finest watches for cash.  One of the last  bastions of financial privacy, a fundamental prerequisite of individual liberty, has succumbed to the global war on cash.  The Swiss Federal government is...

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Big Mac and the Dollar

Money and BanksValue and Exchange


Using McDonals's Big Mac as the standard, the US Dollar looks relative firm compared to some other currencies. The chart below from The Economist looks at...

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How Valuable Is a Federal Grant?

Taxes and SpendingValue and Exchange


Sometimes, a federal grant is worthless. The federal government has the ability to attach enough costly provisions to its grants that the net value is less than zero.

A recent case in my home town of Tallahassee illustrates this. The Tallahassee Democrat, May 21, page A1 (sorry,...

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Going Money

Value and Exchange


Here is a short video that examines early forms of money such as metal and salt. Of special interest, it shows the transition from barter goods (such as axes) to transactions facilitated with miniature ax heads without handles or any use...

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How profitable is big oil?

Capital and Interest TheoryValue and Exchange


In the context of the recent spike in oil prices, this clip from Glenn Beck show might be of interest to some. Particularly noteworthy is the fact that the oil industry has been facing a thirty years [sic] moratorium on exploring new fields within the United States. According to the president of...

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A Catechism on Political Economy

Calculation and KnowledgeValue and Exchange


I surely should have heard about J.B. Say's Catechism on Political Economy, but in fact I don't recall knowing about it. It appears in this newly uploaded and bookmarked volume Letters to Malthus. So a short sample:

What do...
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