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Recent Posts
The Subjective Value of Mustard and Its Implications
REPEAT OF AUSTRIAN ECONOMIC PROBLEM PLUS SOLUTION
THE WORLD'S HARDEST AUSTRIAN ECONOMICS PROBLEM
Would a Ban on New Gold Coins Work?
The Disabled Car Because of Missing or Broken Essential Parts Problem
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February 2009 (5)
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The Subjective Value of Mustard and Its Implications
Assume a foil packet of mustard whose only use is to potentially turn a plain hotdog/bun combination into a hotdog/bun combination with mustard. Given the Austrian Subjective Theory of Value, assume that you subjectively rank the end of consuming a mustard...
Published
Sat, Feb 6 2010 4:29 AM
by
Don Lloyd
REPEAT OF AUSTRIAN ECONOMIC PROBLEM PLUS SOLUTION
PROBLEM: From http://mises.org/Community/blogs/donlloyd/archive/2009/02/20/the-world-s-hardest-austrian-economics-problem.aspx THE WORLD'S HARDEST AUSTRIAN ECONOMICS PROBLEM by Don Lloyd For background : http://mises.org/journals/aen/aen21_3_1.pdf...
Published
Wed, Feb 25 2009 2:34 PM
by
Don Lloyd
THE WORLD'S HARDEST AUSTRIAN ECONOMICS PROBLEM
THE WORLD'S HARDEST AUSTRIAN ECONOMICS PROBLEM by Don Lloyd For background : http://mises.org/journals/aen/aen21_3_1.pdf REISMAN: If you open up the hood of an automobile, you see a number of individual parts that disable the entire car if they are...
Published
Fri, Feb 20 2009 7:41 PM
by
Don Lloyd
Would a Ban on New Gold Coins Work?
Assume a gold coin money standard. Some believe that new gold coins should not be allowed to add to the money supply. The basis for this belief is that once a commodity is established as money, society will derive no additional benefit from either more...
Published
Tue, Feb 10 2009 1:27 PM
by
Don Lloyd
The Disabled Car Because of Missing or Broken Essential Parts Problem
Sparsely scattered over Austrian and other economic literature are treatments of both the valuation and the factor pricing (separately) of essential parts of an automobile whose absence or malfunction prevent the automobile from serving its intended end...
Published
Tue, Feb 3 2009 3:39 PM
by
Don Lloyd
John Law : French to English translation needed for Mises TMC footnote
From Theory of Money and Credit, pg. 106 : 1 More than two hundred years ago, John Law, far ahead of his time and with an insight amounting to genius, had seized upon this truth: 'II est raisonnable de penser que I'argent s'echangeait sur...
Published
Mon, Feb 2 2009 10:34 PM
by
Don Lloyd
Find the Austrian Theory for This Factor Price
A single worker can, in one hour, produce a paperweight as described below. Find the Austrian Theory that deals with the wage rate that the worker earns. Paperweight Description : Name - FRN-Brick Paperweight Market Price - $200 Manufacturing Process...
Published
Sun, Aug 3 2008 11:06 AM
by
Don Lloyd
Filed under:
factor
,
wages
Problems with gold or any common currency?
Let's say we have two economically and geographically isolated islands, each with the rough size and population of New Zealand. They are virtual clones of one another, and each has a functioning monetary economy based on a gold standard, with all...
Published
Tue, Apr 15 2008 3:11 PM
by
Don Lloyd
A Candy Bar Inflation Puzzle (+ hint + answers)
A candy bar maker produces a chocolate bar of a size which permits 10 nominal bites and which sells for a price of $1.00. Ongoing monetary supply inflation has increased the manufacturer's factor costs and forced him to decide between increasing the...
Published
Thu, Oct 18 2007 5:55 AM
by
Don Lloyd