The question of the relation of cost to value is properly only a concrete form of a much more general question — the question of the regular relations between the values of such goods as in causal interdependence contribute to one and the same utility for our well-being.
In the conviction of the inadequacy of the classical political economy, the Austrian economists and the adherents of the historical school agree. But in regard to the final cause of the inadequacy, there is a fundamental difference of opinion that has led to a lively contention over methods.
Labor is a factor of production. The price the seller of labor can obtain on the market depends on the data of the market.
It is good luck for the laborer if market conditions are such that a kind of work he is able to perform is lavishly remunerated; it is chance, not
Employs graphical analysis to demonstrate many ways in which US minimum-wage legislation caters to special interests and exploits voters’ lack of e
When Jean-Baptiste Colbert died on September 6, 1683, there was celebration throughout France.
If the blackmail offer is rejected, the blackmailer may exercise his rights of free speech and publicize the secret. There is nothing amiss here.
In deciding to hire a worker, the employer does not ask himself what the worker gets as take-home wages.
In a free market, an unemployed man has always chosen unemployment over working in a place, at a time, in a way, or for a wage that he dislikes, wr
