All Posts Tagged With: "price"
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 | ContinuedT. Boone Pickens is Right About Oil Imports? It Just Ain’t So!
The $700 billion that Americans spend annually to purchase oil from other countries (according to Pickens) is a price not a transfer. For the $700 billion we send to oil exporters, we get something in return—oil. Our receipt of millions of barrels of oil in exchange for that money is hardly a transfer. We receive a versatile commodity that can be used for everything from making plastics to fueling family vacations. The exporters receive the $700 billion that they can then use to purchase other goods and services.
1Apr2009 | E. Frank Stephenson | 6 comments | ContinuedUnderstanding Austrian Economics, Part 1
Austrian economics owes its name to the historic fact that it was founded and first elaborated by three Austrians—Carl Menger (1840–1921), Friedrich von Wieser (1851–1926), and Eugen von Böhm-Bawerk (1851–1914). The latter two built upon Menger, though Böhm-Bawerk, in particular, made important additional contributions. Menger’s great work, translated into English (but not until seventy-nine years [...]
1Oct2003 | Henry Hazlitt | 3 comments | ContinuedThe Miracle of Privatization
When I was a small boy I used to bicycle in the hills of northwest England where Derbyshire and Cheshire meet. In the distance I could often see glimpses of water, but all roads to it were blocked by locked gates and signs reading “Public Property: Keep Out.” Today, following the privatization of the water [...]
1Sep2000 | John Blundell | 1 comment | Continued-
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