Why Austrian School Economists Have a Better Understanding of Goods and Services
What makes a good a good is not the physical thing itself, but the value we find in it because it is serviceable toward some valued end.
Value and Exchange
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The Myth of “Planned Obsolescence”
In times of massive and frequent technological improvement, it would be sheer waste for manufacturers to dump resources into making products last past their usefulness.
The Fairness of “Unequal” Exchange
When an elected official or government bureaucrat interferes with a valid, non-coerced exchange, they may appear to be helping one individual when they are actually harming a foundation of modern society; free exchange of goods and services.
Markets Rely on Accurate and Honest Information — But Governments Want the Opposite
Market prices reveal critical information about sellers, buyers, and market demand. But government interference in markets substitutes a fake version of reality that leads to impoverishment.
Do Consumers Know What’s Best for Them?
The free-market doctrine does not rest on an assumption that consumers make wise choices. Like the mythical “economic man,” the Perfectly Wise Individual is a straw man created by the critics of the theory.
Why Socialist Calculation Is Always Impossible
True economic value begins in the minds of individuals, and only individuals can predict, plan, and act in the marketplace.
Recycling: Wasting Resources While Claiming to Conserve Them
Recycling isn't free. It requires the use of time and resources, many of which end up wasted. But politicians keep insisting that recycling is always a win-win, even though we have many examples to the contrary.
Consumerism? Why People Spend on “Useless” Status Symbols
People buy things that reflect their value systems — values learned in homes and other non-market institutions. Meanwhile, markets don't force anyone to buy anything.
