Economic Reasoning Archives | The Free Market Center Journal

Wage & Price Discovery

Jim Berger
posted on February 7, 2019January 27, 2020
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Socialists show reluctance to accept deferred payment or agree to absorb any losses. Even before they face those issues, how can they establish what portion of revenues they actually deserve? They

Posted in Economic Reasoning, Economics

Socialism Would Pay Full Value

Jim Berger
posted on February 5, 2019January 27, 2020
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Socialists want full pay for their work. Would they delay that payment until completion of production? Would they agree to cover any losses after the sale of the product? I recently view a video in

Posted in Economic Reasoning, Economics

Systems Thinking in Economics

Jim Berger
posted on January 22, 2019January 27, 2020
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Systems Thinking helps people understand more clearly the complexity of markets. You will probably hear me make several references to “systems thinking” in the process of explaining free

Posted in Economic Reasoning, Economics

The Dangers of Modern Monetary Theory

Jim Berger
posted on January 15, 2019January 27, 2020
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At the core of Modern Monetary Theory (MMT) lies the implicit premise that the acquisition of money represents an end of itself. MMT bases its argument on what some people refer to as a

Posted in Economic Reasoning, Economics

Linguistic Revision

Jim Berger
posted on November 15, 2018January 27, 2020
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The language used by economists confuses many people—including themselves. Imprecise usage of words and phrases leads to poor communication and flawed thinking. Test the meaning of everything you

Posted in Economic Reasoning, Economics

The Power of Preference

Jim Berger
posted on October 18, 2018January 27, 2020
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Preference has tremendous power because it guides all transactions in a market economy. The preferences of individuals govern all economic activity. You have power because of your preferences. Choose

Posted in Economic Reasoning, Economics, Money Matters Book

A Pricing Model

Jim Berger
posted on October 16, 2018February 20, 2019
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No one can build a model to either determine or predict prices, despite the useful information that prices provide. Attempts to predict prices will always prove fruitless. Knowing prices in advance

Posted in Economic Reasoning, Economics

What’s It Worth?

Jim Berger
posted on October 11, 2018January 29, 2019
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The worth—or value—of any good is always unknown and unknowable. Use the consideration of this reality to trigger useful questions regarding market behavior. If you have followed my posts to this

Posted in Economic Reasoning, Economics

The Importance of the Individual

Jim Berger
posted on October 9, 2018January 29, 2019
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The discrete nature of humans makes the individual the center of all market activity. They decide what has value and how much. Their actions based on those evaluations make free markets operate

Posted in Economic Reasoning, Economics

Relationship of Value to Price

Jim Berger
posted on October 4, 2018January 29, 2019
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Value and price have a very close and important relationship. Value exists entirely in the subjective realm, whereas price provides objective evidence of an economic transaction. The price results

Category: Economic Reasoning

Wage & Price Discovery

Socialism Would Pay Full Value

Systems Thinking in Economics

The Dangers of Modern Monetary Theory

Linguistic Revision

The Power of Preference

A Pricing Model

What’s It Worth?

The Importance of the Individual

Relationship of Value to Price