Value and Exchange
Subjective Value and Market Prices
This concept of economic calculation is really the foundation of all economic theory, and price theory is the cornerstone of economic calculation.
The Division of Labor and Social Order
"The free market and the division of labor does not promote hyper-atomized individuals. It creates social harmony and community."
How People Determine the Value of a Good
In contrast to the imaginary way that mainstream economists present value, Austrian economists properly use ordinal rankings to determine value.
The Subjective Theory of Value
The starting point for the development of all economic theory is “human action is purposeful behavior.” The following reading is chapter 4 from An Introduction to Austrian Economics by Thomas C. Taylor.
The Causal Connections Between Goods
The following reading is selected from Principles of Economics, chapter I, “The General Theory of the Good,” by Carl Menger.
The Laws Governing Goods-Character
The following reading is selected from Principles of Economics, chapter I, “The General Theory of the Good,” by Carl Menger.
Tampa Group Declares Independence from the Dollar
Wesley Schlemmer joins Good Money to discuss how Bitcoin Bay is helping Tampa residents convert Bitcoin into real goods and services, including locally raised beef.
Do People Value Money Because They Need It to Pay Taxes?
Per Bylund joins Bob to discuss his new paper at the QJAE, which points out several flaws in the MMT claim that money is valued in order to pay taxes.
The Bud Light Boycott and Clueless Corporate Executives
Bud Light executives thought customers wanted the beer to partner with a "transgender" celebrity. Or executives simply didn't care what customers thought. In any case, executives are now paying the price.