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 <strong>and</strong> negative, 166–67 Fac<strong>to</strong>r incomes, 85 Fac<strong>to</strong>rs of production. See Capital goods (fac<strong>to</strong>rs of production) Fetter, Frank A., 11 Fisher, Irving, 141, 149, 207, 215 Fixed proportions, 90 Franchises, 196 Free markets. See <strong>Market</strong>, 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 (fac<strong>to</strong>rs 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 <strong>Study</strong> <strong>Guide</strong> <strong>to</strong> <strong>Man</strong>, <strong>Economy</strong>, <strong>and</strong> <strong>State</strong> <strong>with</strong> <strong>Power</strong> <strong>and</strong> <strong>Market</strong> 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 <strong>and</strong> 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-s<strong>to</strong>ck 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 L<strong>and</strong>, 5, 82, 85, 89 scarcity of, relative <strong>to</strong> labor, 109 supply curve of, 107 Law Code, 176, 178 Laws. See Diminishing marginal utility, law of; Returns, law of; One price, law of; Dem<strong>and</strong>, law of Lebensraum, 197 Leisure, 7, 110, 116, 216 Libertarianism, 178 Licensing, 190, 192, 199 Liquidity, 79 Location, spatial relations <strong>and</strong>, 113 Log-rolling, 24 Loss. See Profit, loss <strong>and</strong> Luck, 234–35 Lutz, Friedrich August, 79 <strong>Man</strong>agement, 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 <strong>Market</strong>/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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CONTENTS INTRODUCTION . . . . . . .
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