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189. Is Property Theft? | Dr. Robert Murphy

The Jordan B. Peterson Podcast

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Understanding Austrian Economics and Value

This chapter explores the relationship between human behavior and Austrian economics, focusing on individuals as goal-directed actors. It highlights the evolution of economic thought, particularly the transition from classical theories to the marginal utility framework, addressing the complexities of value assessment and decision-making. Through discussing Ludwig von Mises' contributions and the limitations of the labor theory of value, the chapter illustrates the subjective nature of market pricing and the factors influencing it.

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