What is something “worth” in the marketplace? Who gets to decide that? If you ask someone steeped in classical economic theory, they will tell you that something is worth exactly what someone else is ...

Peter Boghossian and James Lindsay’s call for listening to social-justice warriors (“Social-Justice Warriors Won’t Listen, but You Should,” op-ed. Oct. 12) is, in many ways, a restatement of the ...

This is a preview. Log in through your library . Abstract This paper tells the story of how Sraffa's interpretation of classical economics, particularly Ricardo, closely follows the developments of ...

In an era marked by economic turbulence, from inflation spikes to tech disruptions, the compass of classical economic thought, particularly that of Henry Hazlitt, offers not just direction but ...

Efficiency refers to the optimal allocation of resources, where it is impossible to make someone better off without making ...

The old issue of the relationship between economics and psychology has resurfaced recently mainly because of the rise of behavioral economics. The bulk of this literature deals with the relation ...