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I heard a statement from Peter Schiff yesterday and I’m having some trouble thinking about it. The average Ford worker in Henry Ford’s era (1914) earned approximately $5 per day in wages – the equivalent of 1.25 ounces of gold per week. The average Ford worker today earns approximately...
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Mises in Human Action: “The disutility of labor is not of a categorial and aprioristic character. We can without contradiction think of a world in which labor does not cause uneasiness, and we can depict the state of affairs prevailing in such a world. But the real world is conditioned by the disutility...
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Not an economic question but i figured I would get more traffic this way. There will be money bomb for Ron Paul on May 5th, the day of the first debate. Go to debateday.com to RSVP, the donations will go to ronpaul2012.com. Here is the facebook page to RSVP at http://www.facebook.com/event.php?eid=176057135779358...
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I have a friend who doesn't have the knowledge yet to answer this guy and I can't really check it over for another few hours, although I'm sure it's full of fallacies, false dichotomies and unsupported assertions - I find that non-Austrians are generally devoid of the ability to think...
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Im taking political economy this semester. Let's just say, the teaher, she is of far-left, borderline socialist, believer. When a person in class talked about minimum wages and said how that would lead to unemployment, she stated that the people who typically make this argument are big businesses...
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I am a ten-cent-above-the-minimum-wage worker at McDonald's, and I mainly work in the grill area. At my McDonald's there is one two-sided "table" where the sandwiches are assembled, one grill for the grilled meat products, and one fryer for fried meat/fish products. Ideally, on either...
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Why would an oil embargo against another nation by one nation not work? I know it won't work, but I can't think of the economics terminology that would explain why it wouldn't. I know the consumers could simply go to another nation, but somehow that seems like an unsatisfactory explanation...
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I recently bought a variety of books from the LvMI and I’m eager to start reading them but I'm somewhat unsure where to start. Here is the complete list of books that I bought: The LvMI Home Study Course (1. Great Austrian Economists, Randall Holcombe 2. Against Leviathan, Robert Higgs 3. An...
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Link URL: http://jeffreymiron.com/2010/04/a-policy-trilema-maybe-not/ Quote: [quote]Absent the moral hazards created by policy, private actors will be more cautious about risk. Absent the false assurances of regulation, financial market participants will exercise due diligience and diversification. The...
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Hi all, I want to learn and understand Austrian economics, so where do I begin? I don't have much of an understanding of economics so keep that in mind. I have been reading Mises for a year or two now but still ideas and concepts fly over my head often. Is there some sort of introduction to Austrian...