This blog is a commentary on contemporary business, politics, economics, society, and culture, based on the values of Reason, Rational Self-Interest, and Laissez-Faire Capitalism. Its intellectual foundations are Ayn Rand's philosophy of Objectivism and the theory of the Austrian and British Classical schools of economics as expressed in the writings of Mises, Böhm-Bawerk, Menger, Ricardo, Smith, James and John Stuart Mill, Bastiat, and Hazlitt, and in my own writings.
Showing posts with label Krugman doesn't understand tha the effect of a fall in wage rates and prices is that the same amount of expenditure can buy more labor and consumers' goods. Show all posts
Showing posts with label Krugman doesn't understand tha the effect of a fall in wage rates and prices is that the same amount of expenditure can buy more labor and consumers' goods. Show all posts