Mises Search

[This article is a summation of arguments made in a  recent academic publication in  Small Business Economics Journal , entitled “Subjective Value and Entrepreneurship” by Drs. Per L. Bylund and Mark D. Packard .]  What is the value of a pizza? If you asked a standard economist, they might—thinking themself quite clever—ask in return, “well, what

Abstract: The socalled autistic economy (here autarkic)—the economy of one—has been employed by Austrian theorists as a useful analytic baseline on which to build catallactic (market process) theory, which has included a theory of entrepreneurship. But so far, the autarkic economy has been examined almost exclusively in this way. In this article