About this episode
The episode discusses the distinction between the trade economy and the tax economy.
As I see it now, there are really two economies—two distinct systems of producing and exchanging wealth. Or rather, two systems that purport to do these things, though only one of them really produces anything, and the other is organized by a peculiar form of exchange. The first is what is called the trade economy—the one summed up in the phrase "the free market." The other might be called "the tax economy." Original article: https://mises.org/free-market/two-economies
Topics covered
- economics
- free market
- tax economy
- wealth production
- exchange systems
Keywords
- economy
- free market
- taxation
- wealth
- exchange
Mentioned in this episode
Organizations: Mises Institute
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