There is a curious rumor going around. Allegedly, the Obama Administration is producing a shrinking federal deficit. Paul Krugman has even picked up this rumor in his NYT column. Is there any traction to the dubious assertion that the administration is fiscally sane?
Obama is Better Than Obama?
There is a difference between the national…
This is the second post in the live-blogging Economics as Religion series. The first post was published on Monday, March 11.
“To the extent that any system of economic ideas offers an alternative vision of the ‘ultimate values,’ or ‘ultimate reality,’ that actually shapes the workings of history, economics is offering yet another grand prophecy…
Over the next few weeks, I will be live-blogging Robert H. Nelson’s Economics as Religion. Though the book is somewhat dated (published 2001), its discussion is still relevant. This is the first post in this series. Hope you enjoy!
Introduction: The Market Paradox
The role of self-interest in economic growth is a paradox.
Of course,…
This piece was originally published by the Ludwig von Mises Institute on February 11, 2013.
Employment law is a mainstay of state economic policy. Few question its efficacy as a means to correct “market failures”—like unlivable wages for meaningful work—that would leave society in shambles. In fact, no serious debate exists among American policymakers about…
Mia over at PragmaticMom.com has posted a great analysis of basic monetary economics over at her blog. I encourage you all to read it. Here’s an excerpt:
This is the key question of why the United States (and therefore Rosie) can’t just print endless amounts of money. This questions shifts from a question of Government…
This article was originally published at Values and Capitalism.
In recent years, the purported effect of oil speculators in raising the price of oil has sparked much debate and concern. Pundits of various political bents have sought an explanation for the rising price of oil among the activity of speculators, and legislation has recently been…
The last subject covered by Nicolai Foss and Peter Klein in Organizing Entrepreneurial Judgment is the internal organization of the firm. Foss and Klein argue that the organization of the firm is critical to how entrepreneurial judgment will be manifested at different levels of the firm. Ownership rights are foundational for this organization to occur.…
In the final chapters of Organizing Entrepreneurial Judgment, Nicolai Foss and Peter Klein set out to theoretically account for the existence, boundaries and internal organization of the firm. They continue to focus on the central role of the entrepreneur in explaining the firm. Chapter seven is the point at which Foss and Klein really begin…
Beginning with chapter six of Organizing Entrepreneurial Judgment, Nicolai Foss and Peter Klein focus on actually making the connection between the theory of the entrepreneur and the theory of the firm. Specifically in chapter six, Foss and Klein dive into existing theories of the firm and the role for the entrepreneur within those theories. While…
In chapter 5 of Organizing Entrepreneurial Judgment, Nicolai Foss and Peter Klein articulate the real nature of capital goods. They explain how the treatment of capital goods has varied among different schools of economic thought as well as the implications for the firm and the entrepreneur resulting from differing conceptions of capital goods. Foss and…
![Cream_puff_assembly_line[1]](https://hanseconomics.com/wp-content/uploads/2013/02/Cream_puff_assembly_line1-e1360603297580-100x100.jpg "Waging War on Work")
