Economics - Michael DeVinney

The Origin of Money

A money can only be used if there are more than two individuals and two goods in society. It must … Read the rest

The right to property is the right to contract with that property. Property is the title to ownership. You have … Read the rest

The business cycle is caused by artificial credit expansion by the central bank and commercial banks too—if the reserve requirement … Read the rest

Change is linked with the passage of time. Action aims at change. In turn, time passes. Therefore, action is … Read the rest

Society is the outcome of acting individuals cooperating. It’s not the outcome of a few telling others what to do… Read the rest

Crusoe is approached by Friday. Friday tells Crusoe he gets one fish for every two fish he catches. Crusoe is … Read the rest

You don’t have rights in statism. You only have duty to the overlords. You are engaging in mutually beneficial transactions … Read the rest

There may not be much more important to economics than marginal utility. Acting man will value things for the removal … Read the rest

The difference between capitalism and statism boils down to the body. Who owns your body? Only you can directly control … Read the rest

The entrepreneur must earn money from the masses every day. He may not be successful every single day, but by … Read the rest