Marx built his infamous Labor Theory of Value on the premise that labor itself was a commodity. However, as Mises and other Austrians have noted, Marx failed both at understanding the complexity of labor and subjective value theories.

What Murray Rothbard used to call the "Old Right" stood for liberty, freedom of speech, and a free economy. Most importantly, they stood for peace, all in contrast to the "liberals" of their day and ours.

There is good evidence that the Skyscraper Curse is dead. But what does that mean? Are historical changes are in the works?

The Salamanca School is known for important contributions to free-market economics and the Austrian School. The Bolognese jurists also made key contributions.

While people knowing the history of the Austrian school of economics are familiar with the School of Salamanca, it turns out they were influenced by jurists in Bologna who helped to build a legal and intellectual framework upon which scholars could develop free market thought.

It is understood that Marx's theories stand entirely upon his Labor Theory of Value. If that theory is discredited, so is the scenario that leads to the inevitable triumph of communism. That fact, however, doesn't stop Marx's disciples from employing other fallacies.

It is understood that Marx's theories stand entirely upon his Labor Theory of Value. If that theory is discredited, so is the scenario that leads to the inevitable triumph of communism. That fact, however, doesn't stop Marx's disciples from employing other fallacies.