All Posts Tagged With: "costs"
Value, Cost, Marginal Utility, and Böhm-Bawerk
As Ludwig von Mises’s teacher shows, Austrian economics never fails to fascinate.
14Jan2011 | Sheldon Richman | 14 comments | ContinuedSupply Depends on the Demand for (Often Unseen) Alternatives
It’s important to understand that supply is just the flip side of demand and often gives us an alternative way to change the incentives people face.
12Aug2010 | Steven Horwitz | 2 comments | ContinuedThe Force of Economics
Ninos Malek teaches economics at Valley Christian High School in San Jose, California, and is an economics lecturer at San dose State University and DeAnza College. A long time ago, in a galaxy far, far away . . . there were economists who tried to explain economics in clear terms. Unfortunately, there are only a [...]
1Dec1999 | Ninos P. Malek | 0 comments | ContinuedMarkets and Freedom
The social cooperation that emerges in free markets permits the specialization on which prosperity depends. We would be much poorer without the specialization that is possible only when large numbers of people can coordinate production and consumption through market exchange. But even more important than the material wealth we realize from the marketplace is the [...]
1Sep1998 | Dwight R. Lee | 0 comments | ContinuedThe Perfect Price
Mr. Fairless is Chairman of the Executive Advisory Committee, United States Steel Corporation. What determines the price of a ton of steel? Who sets it? Just what is the policy of United States Steel as to prices? Along with other successful American industries, we in the steel business learned a long time ago that the [...]
1Jan1956 | Benjamin F. Fairless | 0 comments | ContinuedWhy Pay For Things?
Dr. Harper is a member of the staff of the Foundation for Economic Education. “Why do we have to pay for things?” asked a five-year-old boy at dinner one evening. Probably his question was prompted by the suffering of privation endured by all small boys, with their many wants to be served by few pennies. [...]
1Jan1956 | F. A. Harper | 0 comments | Continued-
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