Value and Exchange

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Marx's View of the Division of Labor

Labor and WagesPolitical TheoryValue and Exchange

Blog06/25/2018

The division of labor is what made the West rich and has kept it rich. It's telling that Marx planned to abolish the division of labor altogether.

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Subjective Value Is not Arbitrary Value

SubjectivismValue and Exchange

Blog06/16/2018

The prices of goods are not set mechanically by some kind of supply-demand curves but by the goal-seeking choices of individuals.

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Workplace Raids: A Big Problem with Immigration Enforcement

Bureaucracy and RegulationPrivate PropertyValue and Exchange

Blog06/08/2018

Workplace raids against employers of non-government-approved workers make a mockery of private property rights.

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7 Lessons Business Owners Can Learn from Austrian Economics

Monopoly and CompetitionValue and Exchange

As Mises knew, economics "concerns everyone and belongs to all" — and this definitely includes business owners. 

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Economics Doesn't 'Measure' or 'Predict', It Explains

Austrian Economics OverviewPricesValue and Exchange

The purpose of economic science is not to resolve all social problems, nor does it have appropriate tools for this. 

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Satisfaction and Desire: De-Homogenizing Mises and Hayek

SubjectivismValue and Exchange

Thanks to markets, our unchanging desires are being satisfied more and more effectively over time.

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The Myths Behind "Equal Pay Day"

Bureaucracy and RegulationValue and Exchange

Blog04/25/2018

If the "pay gap" narrative were true, "greedy" employers would hire more women to get the same work done at lower wages.

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Yes, Economic Laws Still Apply to the Minimum Wage

Bureaucracy and RegulationValue and Exchange

Blog04/18/2018

Noah Smith has written yet another "popular" column challenging established economics assumptions. But he's really only appealing to his reader's established biases.

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Why Newspapers Are Going Out of Business

Media and CultureValue and Exchange

Blog03/17/2018

Newspapers apparently have a very high opinion of the quality of the product they're turning out. Many consumers seem to disagree. 

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Why Camping Out To Buy Stuff Is a Rarity in a Market Economy

Value and Exchange

Blog02/28/2018

Forcing people to wait days in a line to buy your product may not be the most efficient way to distribute goods.

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