Sunday, May 10, 2009

Introduction to Economic Reasoning - Chapter 10: The Gold Standard

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As demonstrated in previous chapters, money must originate as a commodity. One cannot use praxeology to determine which commodity will do s...

Introduction to Economic Reasoning - Chapter 9: Money, Part 2

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In the last chapter Dr. Gordon showed that actors converge on the use of a few goods to use as a medium exchange. He defines money as a goo...

Introduction to Economic Reasoning - Chapter 8: Money: Part 1

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The discussions about labor and price controls have depended upon the same basic principles of economics identified in earlier chapters. On...
Sunday, April 26, 2009

Introduction to Economic Reasoning - Chapter 7: Minimum Wages and Wage Controls

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Minimum wages and wage control are no different from the discussion about price control. Still they are very important topics associated wi...

Introduction to Economic Reasoning - Chapter 6: Price Controls

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Dr. Gordon illustrates the effects of price controls by first showing that at the market price there is buyer for every seller and vice vers...
Sunday, April 12, 2009

Introduction to Economic Reasoning - Chapter 5: The Labor Theory of Value

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Dr. Gordon begins by clarifying an apparent contradiction from the last Chapter. In the beginning of that chapter Dr. Gordon noted that eve...
Sunday, March 29, 2009

Introduction to Economic Reasoning - Chapter 4: Demand and Supply

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Dr. Gordon now turns to the laws of demand and supply; the concepts people most often identify with economics. Gordon begins simply. Two act...