Good economic theory predicts effective, cutting edge business practices. For example, the dynamic flexibility of capital resource allocation predicted by Austrian Capital Theory is being realized today via digitization, dematerialization and agile organizational innovations. Entrepreneurs who fully embrace Austrian theory can be leaders in the field of business implementation. At the same time, economic theory evolves and it’s important to keep up. This week, Hunter Hastigns and Per Bylund (Mises.org/Bylund) talk about the economics of value and how this body of theory is superseding old mainstream economic theories from the industrial age. We focused specifically on the industrial-age concept of economies of scale. Show Notes: https://mises.org/library/bylund-economics-value-versus-economies-scale "Economics of Value vs. Economies of Scale" (PDF): Mises.org/E4E_42_PDF Economics For Entrepreneurs is also available on... iTunes: https://itunes.apple.com/us/podcast/economics-for-entrepreneurs/id1453233518?mt=2 Google Play: https://play.google.com/music/m/Iz2umketq6fu5npyjpb57b7z2cq?t=Economics_For_Entrepreneurs Stitcher: https://www.stitcher.com/podcast/mises-institute/economics-for-entrepreneurs?refid=stpr Soundcloud: https://soundcloud.com/misesmedia/sets/economics-for-entrepreneurs Spotify: https://open.spotify.com/show/7A1kY8ksk1qL2oNf0i97Zp and via RSS: https://mises.org/itunes/735