capitalism Dialectical Materialism and its Criticism According to dialectical materialism, the metamorphosis of the material productive forces - which is an inexorable, autonomous change - causes an alteration in the production relation influenced social structures.
economics The Clash of Judgements of Values An absolute hierarchy of values cannot be determined by any objective method. The field of science concerns itself with existential propositions.
economics Economics and Judgements of Value Whether a certain field of study is a description of nature or about judgements of value is an important distinction.
economics The Conceit of the Articulators Coordination ensures the limited knowledge of individuals meets and reconciles each other's best interests.
philosophy Understanding Knowledge An individual's proficiency in peripheral knowledge has no bearing on his well-being and it becomes entirely academic as to whether his interpretations on those areas are correct or absurd.
capitalism Articulation versus Spontaneous Order In a socialistic system, all the decisions are articulated, which is the explicit directions regarding the kind of activities allowed to be conducted.
law The Meaning of Economic Freedom There is an illusion of the "market" being a physical place for transactions, rather than recognising it as a process with certain characteristics.
capitalism The Debates in Capitalism Many of the material comforts enjoyed by the middle and lower classes could be enjoyed only by the rich and the noble two hundred years ago.
capital The Challenges in Preserving and Growing Capital A well-executed entrepreneurial plan may give the appearance of a constant level of capital. But, a constant level of capital doesn't mean constant capital goods.
capital goods The Issue of Technology and Adaptability of Production Choices Production methods are bound by the past and hasty course corrections are generally avoided. It appears that plans guide consumer goals at later stages of evolution.
capital goods Meaning of Capital and its Implications for Entrepreneurial Risks An accountant's definition of Capital tends to be abstract. The value assigned to Capital is a derivative of actual capital goods that the business unit holds.
capital goods The Genesis of Capital Accumulation in Societies We look at the origins of capital accumulation in societies and the difference between being capital-rich and poor.
saving Saving, Production and Economic Calculations in an Economy In this post we look at saving and production processes in a market economy. Production is the bridge between postponement of consumption today and greater consumption at a later date.
intervention Interventionism and the Slide to Socialism Should the government selectively intervene to cap prices? What effects do these policies bring? With the help of an illustration we examine what price intervention does.
inflation Inflation versus Unemployment: The Wrong Debate Keeping the purchasing power of money growing is the hardest part for any government. Its interests are not aligned with this purpose.
business cycle The Causes of Business Cycles and The Role of Entrepreneurs We look at the causes of business cycles and the role of the entrepreneur. Do entrepreneur activities accelerate cycles or do cycles independently occur?
interest A Fundamental Exposition of Interest Rates Understanding the place of origin of interest rates in an economy is important. Is the interest rate that is made explicit in a loan contract the real interest rate in an economy? Do interest rates get determined in credit markets or in the real economy? We explore these here.
inflation Understanding Inflation in Greater Detail The quantity theory of money asserts if money supply increases general price level would increase. We explore inflation beyond mathematical constructs.
employment Why Apprenticeship is Necessary for Developing Human Capital Wage laws prevent employers from hiring at a certain level of wages. Weren’t apprenticeships the ‘escape’ route from poverty? Have laws helped or harmed society?
debt How Budget Deficits Add to Entrepreneur Risks Should entrepreneurs take the 'artificial' credit extended by the central banks? Should they be more careful in investing in long term projects? We evaluate these questions in the light of the enormous liquidity available now.
austrian The Austrian Versus the Chicago Schools of Economic Thought Here is a list to start with. While the Austrians have always been an 'alternative' school, Chicago emerged from Keynesian shadows and has become mainstream today. Austrians have interesting perspectives
monetary policy The Real Meaning of 'Capital' Capital is a sort of 'black-box' that a country must preserve and build, and from which benefits for current consumption are derived.
policy The Effect of Minimum Wages on the Economy It sounds 'reasonable' that employees must be paid a decent living wage. Isn't it equitable to society that the government decides the minimum wages that employers ought to pay?
