JMR

New essay: "How the Economy Works" by M. Northrup Buechner

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Professor M. Northrup Buechner of St. John’s University has posted an essay entitled, "How the Economy Works." It goes along with his new book, Objective Economics: How Ayn Rand's Philosophy Changes Everything About Economics.

Essentially, his book explains a new theory of how prices work. He discards the modern view of economics and casts prices in terms of the objective-subjective-intrinsic trichotomy that Objectivists are familiar with. I'm in the middle of reading the book now, and I like it so far.

The essay is posted on Buechner's site here: http://objectiveeconomics.net

He has granted permission allowing anyone to post or republish the essay, as long as it is reproduced in its entirety. I decided to make an attractive two-column PDF version of it, which I've posted here: http://ohpcenter.org...s-handouts.php.

(I also corrected one typo that was in the web text. "choses" > "chooses".)

Enjoy,

Jared

Edited by Betsy Speicher
Fixed broken link

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Professor M. Northrup Buechner of St. John’s University has posted an essay entitled, "How the Economy Works." It goes along with his new book, Objective Economics: How Ayn Rand's Philosophy Changes Everything About Economics.

Essentially, his book explains a new theory of how prices work. He discards the modern view of economics and casts prices in terms of the objective-subjective-intrinsic trichotomy that Objectivists are familiar with. I'm in the middle of reading the book now, and I like it so far.

The essay is posted on Buechner's site here: http://objectiveeconomics.net

He has granted permission allowing anyone to post or republish the essay, as long as it is reproduced in its entirety. I decided to make an attractive two-column PDF version of it, which I've posted here: http://ohpcenter.org...s-handouts.php.

(I also corrected one typo that was in the web text. "choses" > "chooses".)

Enjoy,

Jared

You mean the way the economy -ought- to work. The way it is currently working, the Cronies are gorging themselves on the substance created by the productive folk. In -Atlas Shrugged- Francisco (my favorite character) comment briefly on the "Aristocracy of Pull". Ayn Rand nailed Crony (so-called) Capitalism dead center. She hit the mark with that, and Francisco's -money speech-.

From an intellectual p.o.v. the bogus "labor theory" of wealth production has won the day thus far. The understanding that wit and mind are the ultimate creators of wealth has been lost in the noise. The politicians value the remaining market aspects of our economy (look now, because they are disappearing rapidly!) only in terms of job production. Our economy is not supposed to make things, it is suppose to make jobs, according to these benighted folk.

ruveyn

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The politicians value the remaining market aspects of our economy (look now, because they are disappearing rapidly!) only in terms of job production. Our economy is not supposed to make things, it is suppose to make jobs, according to these benighted folk.

Actually, according to the Democrats, the economy is supposed to make campaign contributions.

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I'm currently in the middle of Chapter 8 in the book.

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