Value and Exchange

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The Real Value of a Powerball Ticket

Media and CultureSubjectivismValue and Exchange

Blog01/10/2016Matthew McCaffrey

Rather than a cold estimate of the probability of future returns, the Powerball actually illustrates the subjective theory of value.

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New York State Bans Fantasy Football

Legal SystemMedia and CulturePrivate PropertyValue and Exchange

Blog11/11/2015Mark Thornton

New York State Attorney General says that fantasy football is just as bad for you as the State Lottery. The lottery is actually much worse!

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Is There a Missing Element in Austrian Economics?

Other Schools of ThoughtPraxeologyValue and Exchange

Blog09/01/2015Matthew McCaffrey

Can Austrian economics explain selfless love?

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Defending 'the Gentrifier'

U.S. EconomySubjectivismValue and Exchange

Blog02/09/2015Walter Block

Gentrification gets bad press. It would appear that the gentrifier (he who engages in gentrification) is a malign exploiter, a bully, someone who takes advantage of the weak and the poor. And these are the nice things said about him.

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Mises Daily Monday: To "Give Back," Add Real Value

PricesValue and Exchange

Blog12/29/2014Mises Institute

Mises Daily Monday by Peter St. Onge. "Giving back" is big these days, but how can we know if we're really making a contribution that someone values?

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Mises Daily Friday: Government Save Us From "Overpriced" Chinese Food

PricesValue and Exchange

Blog12/12/2014Ryan McMaken

Mises Daily Friday: Government Save Us From "Overpriced" Chinese Food

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Et Tu, Helvetia?

Money and BanksMoney and BankingValue and Exchange

Blog09/08/2014Joseph T. Salerno

Soon you will no longer be able to purchase Switzerland's finest watches for cash. One of the last bastions of financial privacy, a fundamental prerequisite of individual liberty, has succumbed to the global war on cash. The Swiss Federal government is...

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Big Mac and the Dollar

Money and BanksValue and Exchange

Blog07/31/2014Mark Thornton

Using McDonals's Big Mac as the standard, the US Dollar looks relative firm compared to some other currencies. The chart below from The Economist looks at...

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How Valuable Is a Federal Grant?

Taxes and SpendingValue and Exchange

Blog05/28/2014Randall G. Holcombe

Sometimes, a federal grant is worthless. The federal government has the ability to attach enough costly provisions to its grants that the net value is less than zero.

A recent case in my home town of Tallahassee illustrates this. The Tallahassee Democrat, May 21, page A1 (sorry,...

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Going Money

Value and Exchange

Blog04/29/2014Mark Thornton

Here is a short video that examines early forms of money such as metal and salt. Of special interest, it shows the transition from barter goods (such as axes) to transactions facilitated with miniature ax heads without handles or any use...