Production Theory

Due to the productivity norm doctrine, writes Phillip Bagus, labor unions disturb the process of capital accumulation.

That some factors of production are mobile, says the new protectionist, "proves" that free trade is not as attractive as (supposedly) David Ricardo argued. But factor mobility is not new. It has long been accepted by economists that either goods or people (and other factors of production) move.

Harry Valentine writes that South Africa's long term economic future appears bleak due to the policies that the nation's government has already enacted.

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.