Source: The Daily Economy
by Antón Chamberlin
“Many debates on economic topics hinge on a set of familiar words: production, prices, costs, value. These terms appear constantly in political speeches, news articles, and policy discussions. Yet they are rarely used with much precision (at least where academic economists are concerned). As a result, people often talk past one another while believing they are in agreement — or disagreement — about the same thing. Confusing colloquial meanings with technical definitions can lead to deeply flawed conclusions about how markets work and what governments can realistically accomplish.” (01/21/26)
https://thedailyeconomy.org/article/when-production-isnt-production-and-prices-arent-prices/