A money can only be used if there are more than two individuals and two goods in society. It must … Read the rest
Tag: Statism
Property and Contracts
The right to property is the right to contract with that property. Property is the title to ownership. You have … Read the rest
What Causes the Business Cycle?
The business cycle is caused by artificial credit expansion by the central bank and commercial banks too—if the reserve requirement … Read the rest
The Size of the Social Unit: Free Trade
Free trade is beneficial for the masses. Restricted trade does benefit a few at the expense of the many. … Read the rest
Taking Rites Seriously
Masculinity is a social construct only in the sense that it differs in the development to manhood from society to … Read the rest
Economics and Time
Change is linked with the passage of time. Action aims at change. In turn, time passes. Therefore, action is … Read the rest
The Individual in Society II
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 Economics II
Crusoe is approached by Friday. Friday tells Crusoe he gets one fish for every two fish he catches. Crusoe is … Read the rest
Rights in Statism
You don’t have rights in statism. You only have duty to the overlords. You are engaging in mutually beneficial transactions … Read the rest
The Law of Marginal Utility
There may not be much more important to economics than marginal utility. Acting man will value things for the removal … Read the rest