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In the "Production" section, which follows the "Creative Genius" section of Human Action , Mises defines prouction as (p. 140) not an act of creation [...]. The producer is not a creator. Man is creative only in thinking and in the realm of imagination. In the world of external phenomena...
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Their subsidization of solar panel production is, believe it or not, has little or no impact on the pace of solar energy research and development. If they subsidized the production of cell phones, new faster, smaller, more reliable cell phones would still be coming out every year. The only difference...
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I just finished reading Prices and Production by F.A Hayek. I am trying to come up with examples from economic history, or recent history, or even simple imaginary examples of the lengthening of the production process and the shortening of the production process that comes about due to the operation...
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This was published in a non-Austrian journal 'Mercury' of the Astronomical Society of the Pacific. I thought it might be of interest to a different audience as well. ___________________________________________________________________________________ Yet Another Solution Of The Fermi Paradox Background...