Gia Bawerk ((link)) Free

He pointed out a fatal flaw in Marxist theory: if a worker is paid the "full value" of a product that won't be sold for a year, the employer is essentially providing a free "time-travel" service. Without a profit or interest motive, there would be no incentive for anyone to organize production over long periods. Why He Matters Today

Böhm-Bawerk introduced the concept of "roundaboutness" ( Produktionsumwege ) to describe how capitalistic economies grow. gia bawerk free

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