Value and Exchange

In response to Block and Barnett (2012), this paper clarifies some misunderstandings about the concept of transitivity and shows its relation to rationality, asynchronicity of choice

Over the span of one hundred and fifty years, dissatisfaction with one or more of the fundamental postulates of theoretical economics has given imp

Fueled by almost frantic efforts to adjust and adapt in the face of intense inter- national competition, American industry undertook an immense cor

Supporters of Kaldor-Hicks believe it useful to have a quantitative measure to assess the efficiency of different situations.  Although it may appear convenient to be able to judge policies

Pioneering sociologist William Graham Sumner (1840–1910) was a prolific and astute historian of the early American republic. His work is informed by both his classical liberalism and his understanding of economics. He authored eight major works including major biographies and thematic studies concentrating on the vital subjects of currency, banking, business cycles, foreign trade, protectionism, and democratic politics. This article discusses Classical Liberalism and Sumner's academic philosophy.

Neoclassical utility functions are an invalid means of analyzing consumer behavior for three reasons: first, and most important, because such functions, and their attendant rankings, are cardinal, not ordinal in nature; 

Kevin Carson’s studies in Mutualist Political Economy (2004) is an impressive work.

he author provides a commentary. Despite Hoppe’s more elegant way of describing choice, it still remains a logical contradiction to oppose indifference and embrace  interchangeable commodity units.

According to many economists we need the state to provide public goods.

Teaching Microeconomic Principles well, a blend of good pedagogy and good economics, is the professional obligation of many economists. Since such courses are conventionally grounded in neoclassical theory,