BEGINNER

Price

The amount paid for a unit of a good or service. Prices reflect the supply of and demand for a good or service. All else held equal, the price of a good or service increases as either demand increases or as supply falls. Similarly all else held equal, a fall in price occurs as demand decreases or supply increases.
 

Paul Cwik - Problems and Prices

 

Anthony Carilli - Austrian Economics: Praxeology, Supply, and Demand

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Monetary Calculation: Looking Forward and Backward

Indispensable prices.

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Monetary calculation allows entrepreneurs both to peer into an uncertain future and determine their past successes and failures.

THE CALLING

Not Just What, But How

The indispensability of free-market prices.

JANUARY 12, 2012 by STEVEN HORWITZ

Only in a free-market economy, characterized by the private ownership of capital, could we figure out not just what to produce, but how best to produce it.

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The Two-Price System: U.S. Rationing During World War II

Price Controls and Rationing Led to Law-Breaking and Black Markets

APRIL 24, 2009 by ROBERT HIGGS

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April 2014

Around the world, people are struggling to throw off authoritarianism, with deeply mixed results. From Egypt to Venezuela, determined people build networks to overthrow their regimes, but as yet we have not learned to live without Leviathan. In this issue, Michael Malice and Gary Dudney discuss their glimpses inside totalitarian regimes, while Sarah Skwire and Michael Nolan look at how totalitarian regimes grind down the individual--and how individuals fight back. Plus, Jeffrey Tucker identifies a strain in libertarianism that, left unchecked, could reduce even our vibrant movement to something that is analogous to the grim aesthetic of architectural brutalism. The struggle for our lives and freedom is a struggle for beauty; it begins inside each of us.
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