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Source link: http://archive.mises.org/20395/mises-daily-wednesday-january-11-2012/

Mises Daily: Wednesday, January 11, 2012

January 11, 2012 by

"Investment or Malinvestment?" by Igor Karbinovskiy

Suppose I write an article on the economy that no one wants to read, much less pay me for. Now suppose that the government pays me for it anyway — as part of a jobs bill. Presto! A new job has been created; a person who was previously unemployed is now working. But what have I produced?

"The Value of Goods of Higher Order" by Carl Menger

There is no necessary connection between the value of present consumer goods and the value of currently available capital goods.

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