Value and Exchange

Dr. Jeffrey Herbener joins The Human Action Podcast for an extended discussion of Mises's seminal work.

Millennials are the focus of everyone’s attention in the housing business.

When Mises noted that a manager is a "junior partner" of the entrepreneur, he did not mean to downplay the role of management in the economy.

By disparaging and ultimately ignoring Say's Law, many scholars have done great damage to economic theory.

The Economic Theory of Costs contains valuable criticism of the standard neoclassical approach and some original ideas on how to develop causal-realist economics in the Mengerian tradition.

Each physical unit of a means that enters into human action is valued separately.

We think the state is taking only our money, but it is also taking our time.

Scrooge was wrong, and his Nephew Fred was right. While it's true the benefits of feasting with friends and family can't be calculated in a ledger, that doesn't mean those things have no value.

Many seem to mistakenly think that economic growth has to do with GDP or producing stuff. It does not.

If allowed to function freely, capitalism is hard-wired to distribute resources to as many people as possible at affordable prices. You don't have to be rich to participate in the bounty.