Production Theory

Anti-outsourcing theories implicitly assume that high production costs are a source of wealth, argues Bill Anderson.

The trend over the past fifty years has been for a gradual reduction in the number employed in manufacturing, says Jude Blanchette, but both output and productivity have increased.

In a brilliant lecture at the Austrian Scholars Conference, Sean Corrigan chronicles the failings of growth-driven government policies that impoverish in the long run.

Lew Rockwell agrees with Richard Clarke: "Your government failed you"--in many more ways than he is willing to admit.

The new protectionists, writes Sudha Shenoy, want to reverse the outflow of US capital to China and India. But it cannot be done, which is good in the long run for everyone.

Gary Galles on Booker T. Washington: He encouraged business, industry and entrepreneurship, rather than political agitation.

It may be fashionable to blame the market economy for all of society's ills, writes Art Carden, but this blame is undeserved and many scholars' faith in alternatives to the market is misplaced. No socialist regime has ever held a free election, and no free market has ever produced a death camp. Popular academic opinions to the contrary, the market works. And we can take that to the bank.

Rothbard covers the principles of demand and supply curves. Prices are at the seat of the whole system. Use the logic of reality. The most mobile labor force is teenagers. Over time, capital equipment per laborer increases. Real wage rates increase. Consumer prices decrease.

Recorded at Mises University 2001.

Minimum wage laws force unemployment up. All of those with few skills looking for an entry position will be denied because they cannot add enough value to the business labor field to be paid minimum wage. Unemployment follows minimum wage hikes. Marginal workers are being denied the labor market.