Here, in this 1886 book, George examines the pressing issues of free trade and protectionism... issues that continue to thwart and challenge our economies today. How do tariffs impact production and revenue? Do high wages necessitate protectionism? What is lacking in arguments for free trade? What are the strengths and weaknesses of both free trade and protectionism? George answers these questions, and others, in this incisive work. ALSO FROM COSIMO: George's Progress and Poverty, The Science of Political Economy, A Perplexed Philosopher, The Condition of Labor, and Social Problems.

    Here Eugen von Boehm-Bawerk —Mises's teacher and a huge figure in the history of thought — explains and argues for the subjective theory of value, the theory of marginal utility, and their relationship to price. His legendary patience and attention to detail is on full display. This book was originally published in German in 1886 as an elaboration on Menger — driving home points concerning value as against every non-Austrian point of view. He completely demolishes not only the labor theory of value but also the value theory that rests on claims of aggregate economic value or social worth. In so doing, he clarifies points that Menger himself hadn't entirely spelled out. The English translation by Hans Sennholz has circulated among a handful of writers since 1973 but it was never available publicly nor published.Until now.