While most economists admit that value is subjective, they still err by concentrating on scarcity and choice instead of purposeful action by individuals.
Original Article: The Objective Science of Subjective Value
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Published on November 1, 2023
While most economists admit that value is subjective, they still err by concentrating on scarcity and choice instead of purposeful action by individuals.
Original Article: The Objective Science of Subjective Value
2023-10-30
In 2023, Canada’s parliament passed two significant pieces of legislation, Bills C-11 and C-18, both of which have stirred debates and concerns regarding their potential impact on online freedom and political censorship. Bill C-18, commonly known as the Online News Act, was introduced in the forty-fourth Canadian Parliament and received royal assent on June 22, 2023. This legislation introduces a framework mandating digital news intermediaries, including search engines and social-networking services, to negotiate compensation for online publishers for reproducing or facilitating access to their content. These negotiations would aim to make social-media companies pay Canadian publishers for links to their content, even though these links are free advertising that already help the publishers
2023-10-27
“The market economy involves peaceful cooperation. It bursts asunder when the citizens turn into warriors and, instead of exchanging commodities and services, fight one another.”
So Ludwig von Mises begins a short chapter in Human Action called “The Economics of War.”
While brief, the eleven pages (pages 817–28 in the scholar’s edition) are densely packed with Mises’s take on the history of warfare, what leads to total war, how wars are won, the costs of war, and the ideological conditions for war and peace. As is his modus operandi, Mises frequently contrasts war with the peaceful cooperation of the international division of labor.
The History of Warfare
In his short history of warfare, Mises describes the wars of primitive times as total wars, in which both sides sought the complete
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