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Practice Speaking: Read Aloud
ID: #522
Long Income 1
Some Austrian economists have tried to refute this argument by denying the very existence of an income effect. Fortunately, I do not have to refute labour theory of value, it’s already been done, see Human Action by Mises. The government reassures us that cash machines will not run dry, and supermarkets will have enough supplies between Christmas and New Year.
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