Saturday, 16 November 2019

Cato daily podcast on hate speech

From the Cato Daily Podcast comes this audio discussing the question, Is a ban on hate speech a solution to any actual problem?

Friday, 18 October 2019

Economic calculation under socialism

From AIERvideo comes this video on economic calculation under socialism.
Let's assume socialist central planners have the best intentions. How will they decide what to produce, where to produce it, how to produce it, and for whom? These questions by Mises kicked off the "Socialist Calculation Debate".

Tuesday, 8 October 2019

The representative firm

Marshall's idea of  'representative firm' was created to reconcile his dynamic view of individual firms with the static view of industries. But this idea was somewhat nebulous and did not last very long in the economics literature. Marshall first wrote about the representative firm in his Principles of Economics published in 1890 but the idea was driven out of the literature by 1928, when it was replaced by A. C. Pigou's idea of the `equilibrium firm'.