Mastery of jargon doesn’t make you a competent economist.  You must understand property to understand freedom.  Economics is about exchanging one thing for another.  What is really happening in the exchange is an exchange of property titles.  To understand exchange, you must understand property.  Exchange isn’t based on graphs and equations.  These are value loaded.  Ethics is demonstrable, rational, and objective.

Graphs and equations are disguise for hiding their values and assumptions.  They aren’t adhering to a coherent ethical system.  They wouldn’t hide if they were.  Two people exchanging goods are really better off at the time of the exchange.  The exchange wouldn’t have been made if they weren’t.  Thus, society is better off.  An equation isn’t needed to show this unless you want to hide something.

Society is better off from the exchange.  Economists will invent different ways to measure utility.  This is all nonsense.  Utility can’t be measured.  They are putting their own values into whatever is used to make this measurement.  It doesn’t matter if a third party disagrees with the exchange.  Only the people involved in the exchange are concerned because they are exchanging their own property titles.

To disagree with others exchanging their own property titles is to disagree with justice.  Property titles are different from possession.  A thief may steal a good.  That good is in their possession.  However, the thief doesn’t have the property title.  The thief acquired the good illegitimately.  The property title would remain with the legitimate owner.  All, not just economists, must adhere to the one ethical system.

It’s impossible to understand economics without understanding property.  Various mathematical tools are used to hide assumptions and values.  These mathematical tools always assume there is nothing wrong with resources being siphoned off.  Ethics are ethics and they’re not subjective.  There’s a universal system of ethics.  Economics is plagued by ignoring this.

Reference

Murray Rothbard; Rothbard Reader