"Consequently, in every act of cultivation, the question has to be considered, how land and capital should be employed relatively to each other, so as to give the best returns of rent. The same return in crops may be produced by taking more or less land into cultivation, or by employing more or fewer doses of capital, and agriculturists have to decide on these points. Thus land and capital become commensurable in their products; and, whenever civilisation has got this length, it is impossible longer to avoid valuing land according to the fundamental laws of valuing capital. To do otherwise would be to renounce the only possible measure for calculation and economic decisions. Just as capitals can be rightly compared with each other only when calculated at the same rate of interest, so can land and capital be rightly compared only when the valuation of land assumes the rate of interest on capital." - Friedrich von Wieser, ***Natural Value*** (1893) p. 140. Retrieved from Online Library of Liberty.

Natural Value | Online Library of Liberty

An early and significant contribution to the Austrian theory of value.

#Agorism #Agorist #AnCap #AnarchoCapitalism #Libertarian #Antistate #AustrianEconomics #FreeMarket #FreeTrade #Exchange #Rent #Production #Capital #Land #PrivateProperty #Valuation #Value #Interest #TimePreference #EconomicCalculation #ECP #Quotestr

"...rent can be fixed exactly; — but there is no means by which to determine with certainty how many rents would be required to give the value of the land. Why is there no such means in the case of land as there is in the case of capital? The answer is simple. Capital reproduces itself in the gross return as a part of that gross return. Thus there is a fixed relation between the two 'known' quantities, gross return and net return, and the 'unknown' quantity, capital value; and this relation gives the measure for capitalisation. Land has not the same double position as productive factor and as product. It produces without being reproduced; and thus, to determine the value of land, it becomes necessary to bring to our aid the standard for capitalisation which we find in capital." - Friedrich von Wieser, ***Natural Value*** (1893) p. 139. Retrieved from Online Library of Liberty.

Natural Value | Online Library of Liberty

An early and significant contribution to the Austrian theory of value.

#Agorism #Agorist #AnCap #AnarchoCapitalism #Libertarian #Antistate #AustrianEconomics #FreeMarket #FreeTrade #Exchange #Rent #Production #Capital #Land #PrivateProperty #Valuation #Value #EconomicCalculation #ECP #Quotestr

FUCK THE CROWN LIVE FREE OR DIE #Agorism #Agorist #AnCap #AnarchoCapitalism #CryptoAnarchy #Antistate #Antigovernment #Antipolitics #SEK3 #Hoppe #Hoppean #CounterEconomics #GrayMarket #BlackMarket

@bird Name some strong and weak arguments against MMT besides "hyperinflation is bad"

Eating dinner at my future sister-in-law's place was so good.

I'm so jealous of Japan now.🤤 Source: Japan In Future, YT #Interesting #MildlyInteresting #Fascinating #Culture #Lifestyle #Urbanstr #Citystr #Japan #Japanstr #Nihon #Nippon #Lovestr #Foodstr #Video #Videostr

Imagine all the cholesterol. #Interesting #Culture #Foodstr #Chefstr #Japan #Japanstr #Nihon #Nippon #Pizza #Video #Videostr

Bro doesn't need a new phone. He needs a new gym membership. W mom #Interesting #Discipline #Lesson #Lifestr #Grownostr #Grownstr #FYP #Video #Videostr #BullishBounty

ABOLISH THE STATE BECOME UNGOVERNABLE #Agorism #Agorist #A3 #AnCap #AnarchoCapitalism #Libertarian #Antistate #Antigovernment #Antipolitics #Rothbard #SEKIII #CounterEconomics #GrayMarket #BlackMarket

The Cantillon effect and its consequences for the human race. #Agorism #Agorist #AnCap #Libertarian #Libertarianism #Antistate #Antigovernment #Inflation #Redistribution #WealthRedistribution #EndTheFed #Cantillon #CantillonEffect #AustrianEconomics #SoundMoney #Bitcoin #Monero

Make it make sense. #Agorism #Agorist #AnCap #Libertarian #Antistate #EndTheFed #Debt #NationalDebt #NationalBudget #FiscalResponsibility #FiscalSpending #TaxationIsTheft

Funny animal fails #Memes #Memestr #DankMemes #NostrMeme #NostrMemes #Nostr #Plebchain #Zap #Laughstr #Jokestr #LOL #Comedy #Funny #Petstr #Dogstr #Catstr #Duckstr #Video #Videostr

#AskNostr anyone got any ideas for Austrian School of Economics books that specifically focus on discussing and rebutting Keynesians and post-Keynesians? I think I've been focusing too much on debunking Marxist ideas, even though some Marxist ideas are also Keynesian ideas.

"If again the whole return were imputed to labour and none of it to the material instruments, production would be misled by productive value. Land and capital would be declared valueless; there would be no need to consider them at all; whereas labour would be overestimated, and would, consequently, be far too greatly withheld. The most overestimated would be that labour which got the most intensive material assistance, and so gave the absolutely largest returns." - Friedrich von Wieser, ***Natural Value*** (1893) p. 92-93. Retrieved from Online Library of Liberty.

Natural Value | Online Library of Liberty

An early and significant contribution to the Austrian theory of value.

#AnCap #Libertarian #Libertarianism #Antistate #AustrianEconomics #Imputation #DivisionOfLabor #Wieser #Labor #Capital #Land #NaturalResources #Value #Utility #Production #Returns #Quotestr

"Interest is a surplus, a remainder left when product of capital is the minuend and value of consumed capital is the subtrahend. The productive power of capital may find its result in increasing the minuend. But so far as that goes it cannot increase the minuend without at the same time increasing the subtrahend in the same proportion...always increasing in value as the value that can be produced by its help increases; i.e. as the value of its product increases." - Eugen von Böhm-Bawerk, ***Capital and Interest*** (1890) p. 179-180. Translated by William Smart. #AnCap #Libertarian #Antistate #AustrianEconomics #AustrianSchool #FreeMarket #MarketEconomy #Economics #Economy #Surplus #Capital #Interest #InterestRate #SubjectiveValue #Value #MarginalUtility #Utility #Quotestr

"The large and persistent unemployment during a recession is the chief concern among the public, and virtually all government remedies are couched in terms of their ability to restore full employment...Even after the collapse of an unsustainable boom, workers would eventually return to work—albeit at lower wages and perhaps in entirely different industries. The permanence of unemployment is due to institutional barriers erected by government, perhaps in conjunction with labor unions, which prevent wage rates from adjusting in light of the new realities." - Robert P. Murphy, ***Choice, Cooperation, Enterprise, and Human Action*** (2015) p. 260 #AnCap #Libertarian #Antistate #Antigovernment #NonIntervention #Deregulation #FreeMarket #Contract #Unemployment #UnemploymentRate #PriceControls #MinimumWage #BarriersOfEntry #RedTape #Quotestr

Aggregate data not only fails to take into account individual decisions on buying and selling, it also acts as a fixed average, failing to show who is most impacted by economic policies and the types of impacts. #Agorism #Agorist #AnCap #Libertarian #Antistate #PriceControls #Inflation #EndTheFed #AustrianEconomics #ConsumerPreference #SubjectiveValue #TimePreference #HumanAction #SupplyAndDemand #Supply #Demand #Deregulation #FreeMarket #FreeTrade

"Liquidity traps" are caused from previous boom-bust cycles of the Fed depleting previous savings by expanding the money supply, resulting in the capacity for spending, production, and consumption of goods being shrunk. #Agorism #Agorist #Libertarian #Antistate #Antigovernment #EndTheFed #AustrianEconomics #TimePreference #Interest #SoundMoney #Money #Wages #LiquidityTraps #FreeBanking #BusinessCycles #Saving #Spending #KeynesianEconomics #Bitcoin #Monero

Abraham Lincoln rode WHAT!? Source: Comedy Feud, YT #Memes #Memestr #DankMemes #NostrMeme #NostrMemes #Nostr #Plebchain #Zap #Laughstr #Jokestr #LOL #Comedy #Funny #Video #Videostr

As someone who is quite light and noise-sensitive, I wouldn't mind living here. #FunFacts #Facts #Factstr #Interesting #Homestr #Video #Videostr