At the core of Modern Monetary Theory (MMT) lies the implicit premise that the acquisition of money represents […]
exchange
Government involvement in “healthcare” provides startling example of an incredible waste of resources that no one seems to […]
Nation-states have no resources of their own. They redistribute the resources of their citizens. Nation-states can neither win […]
Value and price have a very close and important relationship. Value exists entirely in the subjective realm, whereas […]
Since the beginning of economics as a specialized study, economist have realized that the concept of value lies […]
Exchanges provide us with the objective information we need to make affirmative statements about market activity and what drives it.
See how, for you, every determination of value results from your own subjective judgment…
A dollar cannot represent the value for an item of less value than a dollar
Probably the most popular concept of value incorporates the cost of production. The idea here is that any […]
Source Some people believe that, since all economic goods require some amount of labor to produce (even “free” […]