Consumer goods are also called finished goods. The products we buy at the supermarket and other retail stores have, in less finished form, passed through many stages (including distribution), reaching back to the original factors of production: land and labor. Land...
For more than three decades, the Federal Reserve has steadily expanded its role in the American economy. From a relatively narrow mandate as a lender of last resort to commercial banks, to inflation and employment targeting, it now operates as a systemic backstop for...
Temu, a Chinese-based online retailer that has been available in the United States since the fall of 2022. Quickly become a leading online retailer, Temu has grown so fast that Bernstein analyst Robin Zhu projects that the site will generate as much as $1.8 billion in...
Even when a line on a map separates two individuals, trade is still trade—that is, mutually beneficial cooperation. Whether the line separates towns, cities, counties, states, or countries, it does not matter. The transactions are win-win. We could do quite well...
As the U.S. Congress continues to ignore the need for real fiscal discipline, kicking the can down the road again with yet another continuing resolution (CR), it is worth revisiting what two of the greats of the Austrian School had to say regarding the question of the...
Zohran Mamdani is running for Mayor of New York City to “lower the cost of living for working class New Yorkers,” according to his campaign website. He has promised to freeze the cost of rent “stabilized” apartments, put the “worst landlords” out of business, create...
Editor's note: This article is taken from managing editor Keith Knight's opening statement for a recent ZeroHedge debate. To clarify, when I say communism, I'm referring to the abolition of private property and voluntary contracts. Socialism is most accurately...
Many people are uneasy with the free market. I think that's because they subscribe, implicitly if not explicitly, to the labor theory of value. Workers, people lament, seem not to reap the full and just reward for their labors. Belief in the labor theory puts...
