James C. W. Ahiakpor

james.ahiakpor@csueastbay.edu

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The Economics of the Corn Dog: Correcting a Misattribution to Adam Smith

MARCH 26, 2014 by JAMES C. W. AHIAKPOR

Adam Smith used labor as a measure of value rather than value's determinant. Karl Marx also did not use the quantity of labor employed in production as the determinant of market prices.

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November 2014

It's been 40 years since F. A. Hayek received his Nobel Prize. His insights, particularly on the distribution of knowledge and the impossibility of economic planning, remain hugely important today. In this issue, we look back on the influence of his work. Max Borders and Craig Biddle debate whether liberty must be defended from one absolute foundation, further reflections on Scottish secession, and how technology is already changing our world for the better--including how robots, despite the unease they cause, will only accelerate this process.
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