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Value and Exchange
Despite its great appeal because of its simplicity, the supply-demand graphic as employed by mainstream economics is a tool that is detached from the facts of reality.
Labor and WagesPolitical TheoryValue and Exchange
The division of labor is what made the West rich and has kept it rich. It's telling that Marx planned to abolish the division of labor altogether.
SubjectivismValue and Exchange
The prices of goods are not set mechanically by some kind of supply-demand curves but by the goal-seeking choices of individuals.
Bureaucracy and RegulationPrivate PropertyValue and Exchange
Workplace raids against employers of non-government-approved workers make a mockery of private property rights.
Monopoly and CompetitionValue and Exchange
As Mises knew, economics "concerns everyone and belongs to all" — and this definitely includes business owners.
Austrian Economics OverviewPricesValue and Exchange
The purpose of economic science is not to resolve all social problems, nor does it have appropriate tools for this.
Thanks to markets, our unchanging desires are being satisfied more and more effectively over time.
Bureaucracy and RegulationValue and Exchange
If the "pay gap" narrative were true, "greedy" employers would hire more women to get the same work done at lower wages.
Noah Smith has written yet another "popular" column challenging established economics assumptions. But he's really only appealing to his reader's established biases.
Media and CultureValue and Exchange
Newspapers apparently have a very high opinion of the quality of the product they're turning out. Many consumers seem to disagree.