A New MICRO Economics Book.

Now it is possible to get a comprehensive economics book - that is, one that seamlessly combines macro and micro - a book that can also serve as an alternative textbook, one that strictly adheres to laissez-faire, free market economics.

This is no minor task if you consider the sad state of affairs in education generally, and in economics specifically. No where else will you find as compelling a reason for stopping all ego-driven human intervention into the economy.

The book, that is built upon the foundation laid by the contributors to the philosophy of classical liberalism and the great Austrian economists, is entitled MACRO & MICRO Economics Renewed. No one should be without access to this state-of-the-art economics book!

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or liberty and justice, please send them this link:
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Understanding Profit Is Pretty Basic!

Following logic similar to that of Turgot: The purpose of production is profit so that the fruits of production can be purchased and consumed!

What could be more basic? Who is opposed to consumption, and if so, they will perish from starvation soon and no longer will there be any to say that they are opposed to consumption?

To consume requires acquisition of consumption goods which requires a productive endeavor yielding an income. Productive endeavor yielding an income is profit!

In contrast, a productive endeavor that fails to yield an income is loss. This will not be chosen again or emulated by anyone who is trying to live prosperously.

Profitable endeavors will be the ones pursued and these will yield fruits of production that will enrich society and thereby increase prosperity.

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If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
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Why Are Anti-Capitalists Against Profit?

It all stems from a misunderstanding of usury. Usury was maligned as ‘unproductive’ but that was because of economic ignorance and the same economic ignorance continues today.

Usury, or the charging of interest, is nothing more than an exchange of a present good for a future good. Which do you prefer: $100 now or $105 a year from now? How much would you be willing to accept one year from now instead of $100 today? The point is: all humans have a time preference, they prefer things now over the same thing in the future.

So to be on equal ground, to be able to compare values, the present value of future goods needs to be compared to the value of the present good. Charging interest is simply the cost associated with paying the lender back in full sometime in the future.

Capital as a resource is nothing more than borrowing what is needed to hire the productive resources now even though it will be sometime in the future before there is any revenue. The profit is the equivalent of full compensation for all of the resources needed in the production process, including the human resources of the entrepreneur and the ones who provide the capital. Without the entrepreneur and the capitalist none of the other factors (land and labor) would have received their incomes.

Profit is maligned and capital is maligned and usury has been maligned all because of economic ignorance. It is this ignorance that underlies socialism.

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If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
http://bruce-koerber.squarespace.com