Production Theory

Recorded at Mises University 2006.

For many years, I’ve been pointing out that the entire mass of the earth, from the upper limits of its atmosphere 4,000 miles straight down t

Reading Don Lavoie and Emily Chamlee-Wright’s

In my last article, “How Government Budget Deficits Reduce Wages and Raise Profits”

In recent years there have been growing complaints over slow growth in wages compared to profits.

(With assistance from Bill Barnett)

This is an interes

Few economists have the courage to point to labor legislation and regulation as the very cause of mass unemployment.

What I have shown is that to the extent that government spending consists either of waste or of intermediate goods, measurement of the standard of living of those working in the private sector is rendered much more accurately by Rothbard's measurement of PPR per private sector worker than by the Department of Commerce's per capita GNP.

Apparently the discovery of penicillin is often trotted out as a classic case showing the importance of having the innovation-incentives of a paten