Study Guide to Man, Economy, and State with Power and Market

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Index 251 Equilibrium, 47, 104 macro, 140 price, 16, 19, 42 Error, 95 Ethics antimarket, 229–38 consequentialist, 238 social, 242 Ex ante utility, 45, 155, 157, 181 Ex post utility, 45, 155, 157, 182 Exchange, 1 direct, 15, 27, 41 equation of, 145 indirect, 15, 27 interlocal, 144 Exchange-value, 15, 18 Existential criticism, 238 Externalities, positive and negative, 166–67 Factor incomes, 85 Factors of production. See Capital goods (factors of production) Fetter, Frank A., 11 Fisher, Irving, 141, 149, 207, 215 Fixed proportions, 90 Franchises, 196 Free markets. See Market, unhampered Freedom, 230 of the consumer, 125 of contract, 236 Galbraith, John Kenneth, 164 George, Henry, 110 Georgism, 204 Gold, 28, 49 Goods, 4 consumers’, 4 durable, 46 exchangeable (nonexchangeable), 233 Giffen, 116 producers’ See also Capital goods (factors of production) Government, 155, 157, 166, 181, 235 borrowing, 166 limited, 176 productive contributions of, spending, 156, 161 provision of defense services, 175 resource-using activities of, 162 run on a “business basis,” 162, 221 spending, 156, 159, 205, 219, 221 “voluntary,” 182 Growth, 163 Hayek, Friedrich August, 116 Hegemony, 17, 157, 242 Hire price. See Rental price Hoarding, 135, 140 Homesteading, 22 Human nature, 232, 235 rights, 235–36 Hume, David, 225, 245 Hutt, William Harold, 123, 130, 147 Hyperinflation, 165 Immigration, restrictions on, 190, 193, 197 Incentives, 169, 206 Incidence. See Taxes/taxation, incidence of Income, gross, 108, 112 Indispensability, 64–65 Individualism, methodological, 2, 3 Inflation, monetary, 156, 161, 164 price, 165
252 Study Guide to Man, Economy, and State with Power and Market See also Credit expansion; Hyperinflation Innovation, 146, 195. See also Technique Insurance, 163, 176 Integration, vertical, 71, 113 Interest, 55, 56, 59, 103 compounding of, 78 market (nominal or loan) rate of, 94, 150, 170 entrepreneurial component in market rate of, 100 “natural rate” of, 170 pure rate of, 69, 72, 74–75 purchasing-power and terms-oftrade components in the rate of, 141 Intertemporal utility comparisons, 43 Intervention, 155, 157, 181 autistic, 155, 157, 181 binary, 155, 157, 159, 181, 203–16, 219–25 triangular, 155, 157, 158, 181, 189–99 Investment, 7, 100, 102 gross, 70 net, 96, 104 trusts, 79 See also Savings Joint-stock company, 75 Judicial services. See Defense services Just price, 204, 209 Justice, canons of, in taxation, 209 Keynes, John Maynard, 107, 111, 116, 150 Keynesianism, 140, 147, 161, 224 Kinsella, Stephan, 130 Knight, Frank, 9, 87, 101 Kuznets, Simon, 220, 223, 225 Labor, 5, 7, 109 supply curve of, 107, 110, 116 Land, 5, 82, 85, 89 scarcity of, relative to labor, 109 supply curve of, 107 Law Code, 176, 178 Laws. See Diminishing marginal utility, law of; Returns, law of; One price, law of; Demand, law of Lebensraum, 197 Leisure, 7, 110, 116, 216 Libertarianism, 178 Licensing, 190, 192, 199 Liquidity, 79 Location, spatial relations and, 113 Log-rolling, 24 Loss. See Profit, loss and Luck, 234–35 Lutz, Friedrich August, 79 Management, as labor, 109 Marginal physical product (MPP), 81, 84, 87, 110 Marginal product, 7, 11 Marginal utility, 2, 6, 18, 45, 47 Marginal value product (MVP), 81, 83, 85, 87 discounted (DMVP), 81, 83, 108, 111 Marginalism. See Marginal utility Market/markets, black, 189, 191 producers’ loan, 74–75 time, 73 unhampered (free), 16, 22, 166, 175, 241 Marshall, Alfred, 60, 63, 115 Materialism, selfish, 233 Means, 4–5, 47 See also Goods Medieval society, 230, 232
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STUDY GUIDE TO MAN, ECONOMY, AND ST
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CONTENTS INTRODUCTION . . . . . . .
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In June of 2004, I became convinced
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Introduction ix appropriate, I have
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Chapter Summary In a money economy,
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Chapter 4: Prices and Consumption 4
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Chapter Summary In the evenly rotat
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Chapter 6: Production: The Rate of
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Chapter Summary This chapter explai
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Chapter 7: Production: General Pric
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Chapter Summary Entrepreneurial pro
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Chapter 8: Production: Entrepreneur
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Chapter Summary Consumer preference
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Chapter 10: Monopoly and Competitio
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Chapter Summary Like all goods, the
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Chapter 11: Money and Its Purchasin
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Chapter Summary Economists often ta
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Chapter 1: Defense Services on the
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Chapter 1: Defense Services on the
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Chapter Outline 1. Types of Interve
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Chapter 2: Fundamentals of Interven
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