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Bending Over Backwards Libertarianmonarchy.com I’m constantly bending over backwards explaining to the Keynesians how clueless they are but a particular fallacy that spans beyond Keynesianism is the backward bending supply curve of labor. Conventional economics states that in most industries as...
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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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[quote user="LogisticEarth"]There's some bits in the first pages of Capital that labor that doesn't create "use-value" (utility) doesn't create value, and that therefore that labor is "wasted". This is why the common "mud-pie" argument against Marx...
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In Defense of Cheap Labor The Division of Labor is World-Wide The Economics of Outsourcing Perils of Outsourcing In Defense of Outsourcing That ought to get you started. The fact is your initial instinct is correct...it is often times the taxes and regulations and red tape that make outsourcing cheaper...
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Labor is the ultimate resource and demand for it is never satisfied. In a robotic economy, most humans would become intellectuals, artists, and entertainers. Very little manual labor would be needed. 'Unemployment' is inconsequential when civilization has reached the level when manual labor is...
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I'm reading through Human Action at the moment. My introduction to Austrian Econ. So far I think it's great, most of it seems solid (though I don't know what significant conclusions it's leading to, but I'll find out soon). I especially like that they did away with that silly notion...
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1) In "Anti-Obamanomics: Why Everyone Should Be in Favor of Reducing Taxes on the 'Rich'" Reisman writes : Other people's means of production, other people's capital, are the source both of the supply of the goods one buys and of the demand for the labor one sells. The greater...
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> And price is decided by the simple but profound economic principles of supply and demand .< No it is not so simple. The wage is the foundation of the consumer dollar, and the consumer dollar is the basis for all business activity. In effect, the wage creates its own demand. On the other hand...
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I would be very happy for some feedback on this article , which makes an argument against child labor laws. I'm not sure that I've seen a popular piece on this topic in a long while, if ever. So I'm curious whether I made the case, and how it could be strengthened.
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This morning I was thinking of an incident that occured in my hometown of Rutland, Vermont, in the 19th century. Rutland was home to several marble quarrying companies and marble was fortuitously discovered just as the Rutland Railroad came to town and the famous quarries of Carrara, Italy closed do...