Economics - Michael DeVinney

Capital Consumption

The market can’t operate without calculation. It will be difficult to view capital consumption when the market is distorted. … Read the rest

Capitalism is the only free economic system. Prices, interest rates, profit and loss, can all be explained by the … Read the rest

There is diversity in value. However, this doesn’t mean there is war of all against all. It’s certainly possible … Read the rest

Bribery has never received good press. It’s equally demonized across all forms of media. However, there are many aspects of … Read the rest

The division of labor is the outcome of men cooperating. What is known as society is just the unrestrained … Read the rest

An entrepreneurial action is made anytime money is lent. The moneylender is making an entrepreneurial action if he can’t see … Read the rest

Special experience is not required in order to act. Nor can laboratory experiments be done in regard to human action. … Read the rest

Humans act because we are uncertain about the future. The physical sciences don’t allow us to see into the future … Read the rest

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