This article describes cardinal and ordinal utility as I understand them and then argues that analysis under cardinal utility is more productive. I also argue for the plausibility of interpersonal comparisons of utility. Ordinal and Cardinal Utility When the preference of A to B is understood in as ordinal we may simply suppose that an … Read more Utility and Interpersonal Comparisons of Utility
This article argues that the several concepts of the entrepreneur on Austrian Economics are all lacking, but to varying degrees. I argue that the Kirznerian entrepreneur, partricularly understood, is the closest match to reality, but I attempt to further improve on the concept. Finally, I relate this entrepreneur to economic growth and point out the … Read more The Kirznerian Delta: FSR or Abundance?
A professor of mine recently made the following remark about one of my writings: “Most concerning in my judgment is your facile use of aggregate terms to denote particular lines of meaning, as illustrated by your references to neoclassical, Austrian, behavioral, and other aggregations of groups of economists.” The professor was entirely correct. In the … Read more Pros and Cons of Aggregate Terms in Advancing Particular Theory
This short essay was a 2nd year Ph.D. level homework assignment for which I received a B+, where the professor grading my response was also the original article’s author. The original article from Wagner (2011) is a working article, accessible here. Dr. Wagner’s comments on this essay included: “I accept pretty much everything you say, … Read more Short Essay Regarding “Dispute Resolution when Rationalities Conflict: Cost and Choice in a Mixed Economy”
This article argues that a singularity-like event in the market for defense would be a watershed moment in the transformation of a mixed economy to polycentric governance. I won’t be calculating a date in the context of this article. One explanation for the existence of government is that government itself is the emergent output of … Read more The Military Singularity
One of my research interests is the synthesis of Neoclassical and Austrian Economics. While I originally set out to execute this synthesis, I now find myself documenting the fact that such synthesis has already occurred. An individual scholar of interest in this regard is James Buchanan. James Buchanan is a Nobel Prize winning economist and … Read more James Buchanan and the Synthesis of Austrian and Neoclassical Economics
Utility is maximized by the intent of transaction, not by the letter of the contract of the transaction, if any such document exists. This forms an economic argument for the interpretation of contracts on original intent. Consider some contract using particular language at a certain point and time. The individuals consenting to such a contract … Read more The Economics of Original Intent