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As most here well know that I'm a college student (senior year), so for me finding work has been hard, even in the best of economic times (as college students are perceived as flight risks from jobs, and this is generally proven to be true statistically). Last year, I had enough of a job in which...
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Has anyone read this essay? I myself find it very unsatisfying. Does anyone see the flaws and inadequacies of this discussion of externalities? I'm unsure why Hoppe put it in there. I'm still in the middle of reading it but here are a few things that I'm unsure about: His rebuttal to the...
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I was having an arguement with this person saying that people have a misconception about inflation because they think that inflation will rob him of his purchasing power of his hard earned money. So that when the prices rises, your dollar will buy fewer goods so it might seem that it lowers living standards...
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A-R: 1. Mises convincingly demonstrated in Socialism (1920) that socialism cannot calculate. Even a brilliant and well-meaning central planner cannot know the subjective valuations of all members of society. Without suffering profits or losses, there is simply no way for the state to know if it is meeting...
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I had a discussion with a friend recently, and somewhere on the way we bumped into the topic of network externalities, and the usual cry of "market failure!" was raised. From what I've seen so far the usual counter argument is that often the market takes care of the problem itself, and...
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Mises specifically refers to externalities. I have a post up on his thoughts and another post with links to other Austrians on environmental matters at my blog. The key point is that every externality is an opportunity and not a zero-sum game. Both sides win if information and transaction costs are reduced...
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[quote user="Inquisitor"]I am not sure what you'll find by the Neoclassicals on the matter. Even the Chicagoans are sheepish on the issue of externalities. Have you tried using Coase's work on the matter?[/quote] No, I haven't but there is a great deal of important works on the...
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I know Rothbard's essay, but I was looking for something more neoclassical/coasian. When talking with somebody really serious about externalities, it's really hard to argue by stating from that start that no such economic category really exists, as the Austrian framework does.