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Well, how would the government or market use the price mechanism to determine whether a road should or should not be built? Say they're determining whether a bridge should be built between Alaska and Russia. There is no existing price to gauge whether there is existing demand for a bridge to be built, so how exactly would a private firm be able
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I see the economic calculation problem (ECP) referenced an awful lot and I'm not entirely sure it is used correctly. For example, I was reading through a debate over government vs market provision of roads and someone referenced the ECP as to why government could not provide roads efficiently. They claimed the government could not effectively determine
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In order for this to be possible the increase supply of money would need to be stored under people's mattresses (or something similar). Why was this the case?
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John James The evidence posted in the links points to higher total tax rates not impeding job growth. So then does the question whether to redistribute become purely a moral rather than economic one?
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I do not see how someone who believes in incarceration can also believe in the concept of self ownership. The ownership of one's body is by definition inalienable yet when an aggressor commits a crime we agree they must be incarcerated. How can an individual simultaneously believe in self ownership while agreeing to forfeit an aggressor's right
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can someone lock this thread, i realised i posted it in the wrong forum
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What is the Austrian view on 'trickle down' economics? Aside from moral arguments, what negative consequences would redistributing more income from higher to lower wage earners have (assume for argument's sake it is a closed economy)?