This paper attempts to grapple with the market mechanism through which growth in one sector of the economy spreads to other sectors. It calls into question Baumol's argument for subsides to the arts and by extension, to other economic areas that have not enjoyed productivity increases

In an article in this journal, “The Fraud of Macroeconomic Stabilization Policy,” Gallaway and Vedder (2000; hence G&V) state that their: “arguments can be summarized with the following propositions" (pp. 31–32) (1.) All major macroeconomic paradigms have as their centerpiece the...

How do neoclassical economists reply to Austrian critiques of their work? Typically, although to be sure there are exceptions, they ignore them. That is, the former move mountains in an effort to avoid the arguments of the latter. Sometimes this occurs even when neoclassicals explicitly reply to...

Mention "free market advocate" or "defender of private property rights" and the name Ronald Coase is certain to be included in the top ten list of virtually all cognoscenti of such matters. Nor can it be denied that there are numerous good and sufficient reasons for this assessment....

This papers attempts to show that the neoclassical analysis of monopsony is erroneous. We deal with this issue under two sub-headings: those compatible with mainstream economics, and those that are not. In the first category are: paucity, wrong target, temporariness, limited window, complexity,...