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Under chapter 7 of Human Action under the part "2. The Law of Returns", there are some parts I don't quite follow: If we deviate from this optimal combination by increasing the quantity of C without changing the quantity of B , the return will as a rule increase further The producers goods...
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My knowledge of Austrian Economics is limited to Rothbard's works The Ethics of Liberty , For a New Liberty , and sections of Power & Market . I know he was highly influenced my Mises and I would like to start tackling some of his works. I just want to get a general feel for his theory of economic...
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"But computation demands units. And there can be no unit of subjective use-value of commodities. Marginal utility provides no unit of value. the worth of two units of a given commodity is not twice as great as one--although it is necessarily greater or smaller than one. Judgments of value do not...