Production Theory

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Economic Impact of Legal Marijuana

Production Theory

Blog12/03/2013

Here is an article that reports legal marijuana growers are using a great deal of electricity in Colorado following the vote to legalize marijuana. It focuses on the negative impact...

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Happy St. Patrick's Day

Production Theory

Blog03/17/2013

Many of you maybe celebrating St. Patrick's Day with a cool glass of Ireland's iconic beer: Guinness.

Guinness is different from other beers because it is dark and creamy. It also has less alcohol. I did not know until very recently that the darkness and flavor come from the ingredient...

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Production Theory and Man, Economy, and State

Production Theory

Blog09/12/2012

"One of Rothbard's greatest accomplishments in production theory was the development of a capital and interest theory that integrated the temporal production-structure analysis of Knut Wicksell and Hayek with the pure-time-preference theory expounded by Frank A. Fetter and Ludwig von Mises....

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A test of your economic intuition

Production Theory

Blog05/19/2008

You see a headline that reads "$1 billion Later, Elevators Still Fail."

The project in question is:

a) a private company that is managing a private facility...

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Newspaper is worthless

Production Theory

Blog03/26/2008

A report on the price of newspaper: zero

A paper mill in the central Canadian province of Manitoba is no longer accepting paper for recycling because the price of newsprint has dropped...

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Krugman is just too much

Taxes and SpendingProduction Theory

Blog02/28/2008

Here is a howler from Paul Krugman:

The fact is that war is, in general, expansionary for the economy, at least in the short run. World War II,...

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While Politicians yammer, enterprise does work

InterventionismPhilosophy and MethodologyProduction Theory

Blog02/12/2008

While the politicians run around the country telling us of their plans to make our lives better--what wizardry they command, merely to make speeches, pass laws, and print paper and thereby make us prosperous and secure!--free enterprise is...

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The Recycling Myth

Production Theory

Blog02/04/2008

The coercive recycling structure is set up in layers, where the consumer ("producer" of waste) gets to do most of the work of sorting, cleaning, and transporting the trash to collection centers. Government-appointed companies then empty the containers and transport the materials to regional...

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The Broken Window Fallacy Reapplied

Calculation and KnowledgeProduction Theory

Blog01/28/2008

It is not a good thing to destroy wealth. Bastiat puts it this way: "Society loses the value of things which are uselessly destroyed." It sounds like an unexceptional claim. But herein rests the core case against everything the government does. Perhaps, then, we can see why the allegory is not...

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Mozilla: Meet Sarbanes-Oxley (and Henry Blodget)

Financial MarketsProduction Theory

Blog01/07/2008

The insufferable Henry Blodget, the disgraced securities analyst who is barred from working in the securities industry (he met up with Eliot Spitzer), is back to his usual chatter....

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