Value and Exchange

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The New York Times: It Just Can't Stop Hating Success and the American Way of Life

U.S. EconomyValue and Exchange

To combat climate change, we need to break our addiction to consuming oil, while developing countries need to break their addiction to selling it. We need a different lifestyle model . . . . —Thomas L. Friedman...
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Not Feldstein's Gasoline Rationing Scheme but Economic Freedom Will Improve the Environment and Promote National Security

InterventionismValue and Exchange


A noted economist, Prof. Martin Feldstein of Harvard University, has written an article for the supposedly pro-free-enterprise Wall Street Journal, in which he proposes a system of government gasoline rationing as a means of improving the environment and promoting national security. (...

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Gasoline at 10 Cents a Gallon and Falling

Money and BanksValue and Exchange


Does gasoline at 10 cents a gallon and falling sound impossible in today's world? Well, if you think it's impossible, you're wrong.

Because that's where gasoline actually is, and it looks like it's going even lower.

Of course, it's not 10 cents a gallon in today's paper money. But it...

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Money in a Two-Person Society

Money and BanksValue and Exchange


I am always annoyed when money is referred to as a "store of value". Value is not a substance that can be stored; it is demonstrated in action.

As Mises writes, "Value is the importance that acting man attaches to ultimate ends. ......

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Indians, the Colonials, and Lockean Theory

U.S. HistoryPrivate PropertyValue and Exchange


While studying colonial period business practices and property rights issues, for a business & finance history class, I read Carl Watner's Libertarians and Indians: Proprietary Justice & Aboriginal Land Rights,...

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George Bernard Shaw on Calculation

Value and Exchange


My wife alerted me to this surprising passage from An Unsocial Socialist. Did Mises read Shaw? (This came out in 1883.) The whole opening of Chapter X is funny, but here's the best excerpt:

Trefusis now...

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Clinton minimum wage increase repealed

Money and BanksValue and Exchange


When pro-inflation economists try to argue that inflation does not merely have redistributive effects, but can actually increase total production one of their most frequently used arguments (Often stated in implicit rather than explicit terms ) is that inflation can help erode the real value of...

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Coin Clipping and the Resource Boom

Value and Exchange


From the Daily Reckoning:

"A penny now costs two cents to produce! It cost the U.S. government 3.8 cents to produce a nickel and 0.98 cents to produce a penny, according to the U.S. Mint's last annual...

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Is capital gains income?

Money and BanksValue and Exchange


The recent report on personal income and spending showed a full 3.7% increase in personal income and an even greater increase in disposable income , raising the savings rate to 3.4%. But this sharp increase was mostly due to the...

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Agree or Disagree? On the Role of Negotiations for the Valuation of Business Enterprises

Philosophy and MethodologySubjectivismValue and Exchange

04/15/2019Quarterly Journal of Austrian Economics
Valuation of businesses must be based on appraisement, investment appraisal, and— terra incognita in Austrian economics—negotiation. Discounted cash flow and "relative valuation" methods are well-suited for negotiation purposes.
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