Economics from the Ground Up
One of the unhappy casualties of World War I was the old-fashioned treatise on economic "principles."
One of the unhappy casualties of World War I was the old-fashioned treatise on economic "principles."
Freedom is not an endless battlefield of <i>caveat emptor</i>, where the bodies of the uninformed masses are stacked ten high, walletless and decapitated.
Recorded at Mises University 2011. Includes an introduction by Mark Thornton.
The grave robber joins the bootlegger, the gunrunner, the drug dealer, and the ivory poacher as another phony criminal created by laws that shouldn
Value is in the eye of the beholder, and hence voluntary trades are win-win activities.
The cost theory could not explain what actually forms spot prices on any given day. The Austrians had a better theory. This was an unambiguous advance in the science of economics, analogous to the superiority of Einsteinian relativity over Newtonian mechanics.
At $3 a pop, these little things seem like a rip-off. Yet consumers keep buying under the right conditions: mostly sports events for kids. What's more, competition isn't pushing the price down. Let us see how this all makes sense from an economic point of view.