Value and Exchange

Calls for finding efficiencies in government by electing or appointing people to “run it like a business” are futile.

Contrary to the Austrian community’s former perception, we revealed value investing’s incompatibility with Austrian economics

Business owners understand that the key to prosperity is to reduce costs and deliver more goods to the customer. Wage workers, however, often want higher prices in order to "protect" their jobs.

Even if everyone were totally charitable, we still could not build a complex economy without the price mechanism provided by markets.

Presented at Mises University 2018.

Despite its great appeal because of its simplicity, the supply-demand graphic as employed by mainstream economics is a tool that is detached from the facts of reality.

The division of labor is what made the West rich and has kept it rich. It's telling that Marx planned to abolish the division of labor altogether.

The prices of goods are not set mechanically by some kind of supply-demand curves but by the goal-seeking choices of individuals.

Workplace raids against employers of non-government-approved workers make a mockery of private property rights.

This article offers an entirely realistic account of equilibrium analysis, thus closing a disturbing gap in economic science.  Human choice involves a dichotomy of success and failure.