The Division of Labor and Social Order
"The free market and the division of labor does not promote hyper-atomized individuals. It creates social harmony and community."
"The free market and the division of labor does not promote hyper-atomized individuals. It creates social harmony and community."
According to this theory, cooperation among any number of persons is more productive than the individual efforts of the same persons in isolation from one another.
Rothbard shows that the failures of government are no accident but rather stem from the very nature of the means.
In that epoch of virtually unchallenged Keynesian ascendancy, Hutt's work was a beacon for those who defended the truth that economics is about the choices and actions of real human beings.
Capital goods become available thanks to secure private property rights, and a class of people willing to save and invest. Without this, there can be no great progress in the standard of living. But, it all takes time.
"The free market and the division of labor does not promote hyper-atomized individuals. It creates social harmony and community."
The Marxist concept of exploitation arises from a deep question Marx asked: Why do capitalists earn interest?
The goods created by automation—and the labor freed up by it—become inputs for industries downstream.
Without the labor theory of value's assumption of a natural price that explains what is “really” going on beneath the veil of supply and demand, there is no mystification involved in capitalist production.