Production Theory

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China, India like US Patent Reform

InterventionismProduction Theory


The pending reform of US patent law that has "inventors" and the IP bar all upset (even though it only makes modest changes to the law) is welcome by India and China, at least. See, e.g., this Indian...

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Gold and Mining Costs

Production TheoryValue and Exchange


Gold fund manager John Embry writes in Investors Digest of Canada, Gold Gleams as Influence of Central Bankers Wanes. Embry cites another analyst, Leonard Kaplan, who asks, why should gold cost $700...

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High School Senior's Questions about IP

Philosophy and MethodologyPrivate PropertyProduction TheoryValue and Exchange


I received an impressive inquiry from a high school senior: “I am contacting you to ask if I can interview you for my senior project paper, which is a persuasive paper about why copyrights are invalid and impractical. I will have between 5-10 questions regarding intellectual property for...

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The Liberty Dollar Question

Money and BanksMoney and BankingProduction Theory


Every libertarian should support full freedom in money production and use, and a great step toward sound money would be to scrap all laws against alternative currencies. I find it interesting how insistent the government is that we use its currency and no other: what is it that these people fear...

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Word for the day: fungible

Money and BankingProduction Theory


Fungible means interchangeable. The word comes into play when (inter alia) earmarked funds end up in a general account. These funds are then free to be used for purposes other than intended. Example: You would like to go on a vacation but you have unpaid car repair bills. A wealthy uncle hears...

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If the airline industry was socialized, would you still fly?

Philosophy and MethodologyProduction Theory


Not that it is the epitome of free-markets in action, however it arguably still retains some semblance of competition as the firms must satisfy the wants of each consumer in order to stay in business (bailouts notwithstanding). And believe it or not, but...

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The Sveriges Riksbank Prize in Economic Sciences 2007

PricesProduction Theory


The Royal Swedish Academy of Sciences has decided to award The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2007 jointly to Leonid Hurwicz, University of Minnesota, Eric S. Maskin,...

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What do spam and the mafia have in common?

Production Theory


A couple days ago, Alexey Tolstokozhev, a Russian spammer was found murdered. The crime scene investigators have ruled it as a probable mob hit (due to the placement of bullets). Alexey...

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Are the Chinese robbing and invading us?

EducationMedia and CultureProduction Theory


The new issue of Chronicles contains the usual odd mix of anti-statism and statism blended into a strange brew that recalls the Free Silver Populism of the late 19th century (down with taxes and up with inflation! Down with Wall Street and up with protection! ). There are good articles...

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