Production Theory

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."

Bob offers his commentary on the movies “The Hunt” and “The Purge”—both produced by Blumhouse Productions—and focuses on whether The Purge storyline offers a challenge to Rothbard’s depiction of anarcho-capitalism.

An individual’s demand is constrained by his production of goods. The more goods an individual produces, the more of other goods he can secure for himself.

An individual’s demand is constrained by his production of goods. The more goods an individual produces, the more of other goods he can secure for himself.