Production Theory

In a free economy, firms threatened with competition often respond by searching for ways to increase efficiencies and improving on economies of scale and scope.

There is a little-known loophole in federal law that allows for people with disabilities to be employed at wage rates below the minimum wage. Why the exemption? It’s an effort to lessen unemployment among the disabled, and a tacit admission in federal law that minimum wages cause unemployment.

Smuggling has often played a pivotal role in important events and episodes in American history, writes Mark Thornton.

Swiss voters recently rejected a proposal to introduce the world’s highest minimum wage, writes Benjamin M. Wiegold.

One of Carl Menger’s contributions was his primacy of the consumer in determining value and price, not only in the marketplace but in all economic

War increases government spending, inhibits free trade, and lays the foundation for numerous future conflicts, writes Ron Paul.

by Ron Paul

Section Six: Truth and Lies about Markets. Narrated by Harold L. Fritsche.

The James M. Rodney Lecture, presented at the 2012 Mises Institute Supporters Summit. Recorded at Callaway Gardens, Georgia, on 26 October 2012.

Interviewed by host Thom Hartmann, Mark Thornton explains why the minimum wage actually hurts the workers it is supposed to help.