Value and Exchange

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The Great Can Opener Gap

Capital and Interest TheoryPhilosophy and MethodologyValue and Exchange


I'm sick of our economic whiners and their tear-stained statistics. "Ten Million American children go to bed hungry every night." Baloney, thick sliced and ready for your intellectual palate! Who believes such falsification? Were it true, fifty million Americans, given the generosity of...

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There will be no private coinage

Money and BanksValue and Exchange


N.J. Hoffer sent in this incredibly fascinating story of a Fed crackdown on a group called NORFED that markets the Liberty Dollar. Now, I've never been much for these attempts to create an alternative money. They seem to...

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Liberty and Charity

Philosophy and MethodologyValue and Exchange


Those who wish to use government power to redistribute income in directions they choose (almost everyone, today) must abuse others' rights, because, as Thomas Jefferson put it, "To take from spare to to violate arbitrarily the first principle of association--the guarantee to...

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How Government Budget Deficits Reduce Wages and Raise Profits

Calculation and KnowledgeMonetary TheoryProduction TheoryValue and Exchange


In recent years there have been growing complaints over slow growth in wages compared to profits. Those who make the complaints usually offer little in the way of explanation. Here is a part of the explanation: growing government budget deficits.

Government budget deficits are financed...

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Interventions are always losers

Calculation and KnowledgeInterventionismPolitical TheoryValue and Exchange


One truism has never been successfully challenged: Government interventions lead to a less efficient, less well-ordered society.

In his important book, Basic Principles of Economic Value, Eugen von Böhm...

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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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