Explore " production theory" with insightful episodes like "What Can Carl Menger Teach Us about Falafel Sandwiches?" and "Low Time Preference Leads to Civilization" from podcasts like ""Audio Mises Wire" and "Audio Mises Wire"" and more!
What better way to explain the relationship between higher-order and lower-order goods than with food? Here, we look at the falafel sandwich.
Original Article: What Can Carl Menger Teach Us about Falafel Sandwiches?
Economists use time preference to explain the existence of interest, but the ability of people to postpone some present consumption in order to save for the future has much broader social ramifications.
Original Article: Low Time Preference Leads to Civilization
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