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Value and Exchange
People buy things that reflect their value systems — values learned in homes and other non-market institutions. Meanwhile, markets don't force anyone to buy anything.
SubjectivismValue and Exchange
Anti-capitalists love to claim that consumers don't really have free choice — that advertisers and peers really dictate to others what they should buy. In truth, consumers choose freely, but use others to filter information and simplify the process.
Austrian Economics OverviewSubjectivismValue and Exchange
The concept of economic cost seems to confuse people. It is not the price you pay for a good, but the reason you pay it.
Monopoly and CompetitionValue and Exchange
Competition and cooperation and not two things in conflict. They are both essential ingredients in a society based on voluntary action instead of violence.
PovertyValue and Exchange
If the Wal-Mart CEO were to take a $1 salary and the company were to spread that over each of the company's workers, each worker would receive a one-time bonus of $10.
Prices are set by how much people value goods and services. And people value things based on what they think will improve their life and well-being.
Labor and WagesValue and Exchange
Truckers are paid less now than in the 1970s because government regulators once tightly controlled competition, thus driving up the cost of living for everyone else.
Political TheoryValue and Exchange
Being resentful about a business transaction after the fact isn't the same thing as being exploited or abused.
Free MarketsEntrepreneurshipValue and Exchange
Millennials are the focus of everyone’s attention in the housing business.
The EntrepreneurPhilosophy and MethodologyValue and Exchange
When Mises noted that a manager is a "junior partner" of the entrepreneur, he did not mean to downplay the role of management in the economy.