Fundamentals
The Economic Calculation Problem: What Prevents Calculation Without Market Prices
The economic calculation problem asks how rival uses of capital can be compared when there are no market prices for the means of production.
Publication contributor
Articles by Daniel Sardá · Page 27
This archive contains published site articles attributed to Daniel Sardá. The separate Thinkers section contains historical intellectual profiles, not publication contributors.
Fundamentals
Global Trade and Power: How Interdependence Becomes Influence
International trade expands cooperation and choice, but some dependencies can give states leverage. A liberal answer starts with clear rules and concrete risk management.
Fundamentals
Confiscation: What It Is and Why It Demands Strict Limits
Confiscation is a severe state deprivation of property or assets. To understand it, you have to separate sanction, permanent taking, compensation, due process, and nearby concepts such as forfeiture, seizure, embargo, and expropriation.
Fundamentals
What Is Monetary Policy? How It Works, Tools, and Limits
Monetary policy influences money, credit, and prices, but its effects are indirect and uncertain. Learn its tools, transmission, and limits.
Fundamentals
Purchasing Power Loss: What It Is, Why It Happens, and How It Is Measured
Purchasing power loss means that an income or savings balance buys less than it used to. This article explains how to identify it without confusing it with inflation or devaluation.
Fundamentals
What Inflation Is, How It Is Measured, and Why It Matters
Inflation is a general increase in prices over time. Understanding how it is measured helps distinguish it from a one-off price jump and shows why stable money matters.
Fundamentals
Voluntary Contracts: What They Are and Why They Matter in a Free Society
Voluntary contracts allow people to cooperate, exchange and assume obligations by consent, but they work only when that consent is real and protected by general rules.
Fundamentals
Rule of Law: What It Means as a Limit on Power
The rule of law requires rulers and citizens alike to be subject to public, general and enforceable rules instead of arbitrary decisions.
Fundamentals
Public Goods vs. Private Goods: Differences, Examples and Limits
Public and private goods differ by excludability and rivalry, not simply by whether they are provided by government or by a private company.
Fundamentals
Political Decentralization: What It Is, How It Works, and Why It Matters
Political decentralization distributes public authority to elected territorial governments with their own powers, resources, and accountability.
Fundamentals
Patrimonial rights: meaning, types, and why they matter
Patrimonial rights are rights with economic value that form part of a person's patrimony and make it possible to own, claim, transfer, or exploit legally protected interests.
Fundamentals
Inflation Tax: What It Is, How It Works, and How It Differs from Seigniorage
The inflation tax describes the loss of real value suffered by the money the public holds when prices rise. This article explains its mechanism, incidence, and conceptual limits.
Fundamentals
Individual Autonomy: What It Means and Why It Matters for a Free Society
Individual autonomy is the capacity to govern one’s own life through personal and responsible choices within a framework of equal rights.
Fundamentals
What Hyperinflation Is and Why It Destroys Money So Quickly
Hyperinflation is an accelerated collapse in confidence in a currency. Understanding its mechanism helps explain why it damages savings, contracts, and economic liberty.
Fundamentals
The Gold Standard: What It Was, How It Worked, and Why It Was Abandoned
The gold standard tied money to a promise of conversion into gold. That rule limited monetary discretion, but it also imposed severe costs when an economy lost reserves or entered a crisis.
Fundamentals
Global supply chains: what they are, how they work, and why they matter
Global supply chains connect firms, countries, contracts, transport, and information to produce and deliver goods. They expand opportunity, but they also require clear rules and risk management.
Fundamentals
What Are Foreign Exchange Controls and How Do They Affect the Economy?
Foreign exchange controls restrict access to foreign currency and replace part of voluntary exchange with permits, quotas, or administrative decisions.
Fundamentals
Economic blocs: what they are, how they work, and where their limits are
Economic blocs integrate countries through shared trade, customs, or market rules. They can expand exchange, but they can also create preferences and barriers against outsiders.
Fundamentals
Communal goods: what they are and why they need clear rules
Communal goods are goods or resources used by a defined community. They are not ownerless resources or resources for unlimited use.
Fundamentals
Central Bank Independence: What It Means, Why It Matters, and What Its Limits Are
Central bank independence aims to protect monetary decisions from immediate political pressure. Its value depends on rules, a limited mandate, and real accountability.
Fundamentals
Causes of Inflation: Why Prices Rise
Inflation does not have one mechanical cause. It can begin with demand, costs, money, credit, expectations, or weak institutions that allow a price shock to become persistent.
Fundamentals
Capitalism vs Socialism: Key Differences, Arguments, and Consequences
Capitalism and socialism differ over property, economic coordination, and power. The core question is which institutions better protect freedom.
Fundamentals
What Is Arbitrary State Power and Why Does It Threaten the Rule of Law?
Arbitrary state power appears when public authority acts by will, caprice, or insufficient reasons instead of being constrained by rules, limits, and review.
Fundamentals
Free Trade Agreements: What They Are, How They Work, and Their Limits
Free trade agreements can open markets and limit arbitrary barriers, but not every trade agreement is the same as pure free trade.