The Fiasco of Fiat Money
Today’s worldwide fiat-money regime has effects that extend beyond what most people would imagine, writes Thorsten Polleit.
Value and Exchange
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Value in Devaluation?
Devaluation means monetary expansion. The resulting bubble is misinterpreted as the success of devaluation. There ensues a disastrous race to the bottom.
The Measurement Chimera
According to the prejudice of many thinkers, "science is measurement."
Money Makes the World Go Around
Austrians understand that state intervention in the monetary system is an abuse.
The Value of Money
Benjamin Anderson was among a handful of economists who set out to integrate monetary theory into a general theory of value. At last his treatise is back in print.
The Value of Goods of Higher Order
There is no necessary connection between the value of present consumer goods and the value of currently available capital goods.
The “Mystery” of the Endowment Effect
Mainstream economists are puzzled by the endowment effect, demonstrating the inability of formal economics to explain what drives human action.
Postmarket Effects of Intellectual Monopoly
Digital-music pricing is standardized and immune to market demand, just as store prices were in the Soviet Union.
The Rap against Unearned Riches
Only if one understands the subjective theory of value may he proceed logically to a belief in private ownership and control of property.
