Value and Exchange

It is the Mises Institute's great pleasure to introduce Carl Menger's 1871 book Principles of Economics to an online audience.

Many say that markets are fine from day to day but not during exceptional events. But Lew Rockwell finds that markets love nothing more than a challenge that offers a profit opportunity.

Neoclassical economists often make matters more complicated than necessary; but, fortunately, the best of them manage to stumble close

Well meaning or not, the boycott of Taco Bell by misguided activists, in the name of helping labor, is deeply ignorant and very destructive, writes Daniel D'Amico. 

The Deficit Twins, are, at best, fraternal, not identical, writes Sean Corrigan. In the last six years, US defense spending has risen 60% and four-fifths of this increase has taken place just since the present Administration took office.

Is Australia a dry country? Not at all, writes Benjamin Marks. It has more rainfall than the United States!

Frank Shostak explains what Mises meant when he wrote that: "The Santa Claus principle liquidates itself." Most individuals in the western world take the ample availability of goods and services for granted.

Protection or Free Trade, published in 1886, is undoubtedly one of the most significant works ever written on the subject, writes Laurence Vance.

The body-weight crusaders continue their Quixotic struggle, writes Gard Goldsmith, because they believe in the Marxist myth that the owners of the means of production make people buy things.

Stefan Karlsson considers the income effect and concludes that its very existence demonstrates the failure of the state to improve the social order.