Production Theory

Without the labor theory of value's assumption of a natural price that explains what is “really” going on beneath the veil of supply and demand, there is no mystification involved in capitalist production.

Regardless of how knowledgeable we are and regardless of various technological ideas, without an expanding pool of real savings, expansion in economic growth is not going to emerge.

Rothbard: "At the outset of every step forward on the road to a more plentiful existence is saving….Without saving and capital accumulation there could not be any striving toward nonmaterial ends."

Rothbard: "At the outset of every step forward on the road to a more plentiful existence is saving….Without saving and capital accumulation there could not be any striving toward nonmaterial ends."

Just as markets can be described as price discovery procedures for existing goods, services, and resources, entrepreneurship can be usefully described as a price discovery procedure for future goods, services, and resources.

Rather than relying on the evenly rotating economy, this paper uses the imaginary construction of a specialization deadlock to define the entrepreneur-promoter, the pioneers of economic improvement, praxeologically.

Leisure (the state of not engaging in labor) is a necessary complementary good for consuming other goods. As such, leisure’s status as a consumer good is a priori true, not an empirical assumption.

Joe Biden thinks a centrally planned supply chain for healthcare supplies is necessary, because "We can no longer leave this to the private sector." There are many reasons why this is so very wrong.

Joe Biden thinks a centrally planned supply chain for healthcare supplies is necessary, because "We can no longer leave this to the private sector." There are many reasons why this is so very wrong. 

"Surely, any endorsement of a 'free' market in slaves indicates the inadequacy of utilitarian concepts of property and the need for a theory of justice."