It is a common belief that people employed in various enterprises and institutions are paid for their WORK. The belief stems directly from one of… Read More »Can labor be a commodity?

I hope that the arguments given in the previous post leave no doubt that merchant (trading) activity is a PROCESS of SERVICE PROVIDING stretched over… Read More »More about commercial activity

As the previous post shows, in order to enter into a purchase/sale transaction, i.e. an ACT OF EXCHANGE in the market, the seller must have… Read More »What do merchants get rich on?

The thesis that the act of exchange does not enrich anyone, which I always preach in my lectures, and which I also repeated in the… Read More »More about equivalence principle

It is clear from what I have written in previous posts that, thanks to the existence of the market, EVERY participant in the market can… Read More »Equivalence – the basic principle of market exchange

I wrote previously that the conclusion of any transaction for the purchase/sale of any good is evidence that for each of the counterparties is an… Read More »Subjectively best, that is?

Following on from the previous post, one might ask whether, by making a transaction at a given place and time, that is, humanly speaking, buying,… Read More »What does lowest cost mean?

In my previous post I tried to clarify the issue of the apparent conflict of interests of the buyer and seller of something on the… Read More »More about the apparent conflict of interest

In a post presenting my book titled. “Foundations of personalist economics” which I posted on my site here, I gave one of the trivial examples… Read More »On the apparent conflict of interests