Human Action: A Treatise on Economics
Page 126
transfer, 513
volkswirtschaftliche, 518 see also, Money; Production
Capitalism
British, 617
campaign against, 257, 461
economic calculation and, 231
effects upon, 283, 664, 803
entrepreneurs and, 254, 461, 502
evaluated, 310
evolution of, 465
Marxian analysis of, 78, 612, 644n, 690, 860
modern, 587
pacemakers of, 8–9, 615
poverty and, 832
production and, 9, 495, 611
results of, 611
saving and, 527, 531, 769
socialism and, 672–678, 687, 712
standard of living and, 165, 750, 833
subsistence and, 601
views of, 264–270
war and, 824 see also, Liberalism; Market economy
Carlyle, Thomas, 9, 645
Cartels, 362–366, 444, 593
Case probability, 110–115
Cash holdings
demand for, 378n, 399, 414, 426, 517, 566
neutralization of changes in, 412–113
purchasing power and, 408, 412–413, 423
size and composition of, 445–147, 460
Cassel, Gustav, 195n
Cassirer, Ernest, 38n
Caste system, 837
Catallactics
competition, 117, 274–277, 278–279, 669
defined, 235, 324, 642
delimitation of, 233–235
functional integration of, 252–256
goodwill and, 377
impoverishment and, 562, 574
inflation and deflation, 420
labor unions and, 585, 771–773
land and, 634n
logical versus mathematical, 347–354
money and, 397, 430, 432, 442
or economics of the market, Part 4, pp. 233–684
prices and, 329, 375
problem of, 3, 7, 10, 203, 604
reasoning of, 572
scope and method of, ch. 14, pp. 233–257
unemployment and, 576–577, 595–598 see also, Capitalism; Economics; Market economy; Rent
Causality, 22–23, 25, 99, 106, 208
Central Bank of Issue, 442
Cernuschi, Henri, 443
Chamberlin, Edward H., 319n
Change
action and, 220
evolutionary, 267
forces behind, 352
goods induced, 416–419
market situations and, 213
measurement of, 223–224
money relations and, 545–547
notion of, 99
purchasing power and, 203, 416–425, 428 see also, Action, human
Charisma and leaders, 150, 155
Charily, 242, 600, 833
Chasles, Philarète, 192, 193n
Cheyney, Edward Potts, 41n
Child labor, 610, 612, 615, 740–741
Chinese history, 836
Choosing, 3, 11, 45, 87, 94, 120–127, 193, 242 see also, Free will; Valuation
Christianity, 37, 719 see also, Morality; Religion
Churchill, Winston, 855
Ciccoti, Ettore, 627n
Circulation Credit Theory, 204, 430, 567–573
Citizens, economics and, 874–875
Civil War, American, 825
Civilization
ancient, decline of, 761–763
destiny of, 10, 825
liberalism and, 8, 837
primitive, 36, 145, 600
private property and, 264, 679
progress of, 85, 87, 600, 645, 813 see also, History; Savings
Clark, John Bates, 4, 255n, 496n
Class conflict, 670–671
Class interests, 5, 81
Class of wants, 123
Class probability, 107–110
Classical economists
achievement of, 232
capitalism and, 9
error of, 62, 121, 633, 678
formation of prices and, 62–64
pacemakers of capitalism, 8–9, 615
profit concept of, 532
teachings of, 174
theory of value and, 2, 63, 121, 206, 485
trade and, 274
Clearing agreements, 472, 796
Clientele, bank, 431
Cockaigne, 70
Coercion, governmental, 71, 149, 180, 283, 718
Cognition, 38, 584n, 881
Cohen, Morris R., 38n, 86n, 643n
Collectivism, 42–13, 145–153, 772 see also, Marxism; Socialism
Colonial regime, 497
Commercial legislation, 214
Common man, 46, 192–193, 611, 616–617
Communion, mystic, 166–167
Communism
effect of, 644n
Second International, 152 see also, Marxism; Socialism
Communist Manifesto, 605
Comparative cost, law of, 158–163
Competition
biological, 273–274, 663
catallactic, 117, 274–277, 278–279, 669
free, 275
goodwill and, 377
imperfect, 357, 378
labor and, 625
monopolistic, 357–378
prices and, 357, 358
restriction of, 278–279, 373–374
social, 274
Compulsion, governmental, 71, 149, 189, 283, 718
Computation of interest, 533–534
Comte, Auguste, 72–73, 151
Concatenation
defined, 105, 324
market and, 252, 330, 441, 566, 604
Conception and understanding, 51–58
Confiscation
philosophy of, 800–801
redistribution and, ch. 32, pp. 800–807
taxation and, 802–807
Conflicts (and harmony) of interests, ch. 24, pp. 660–684; 686
Connexity
among occupational groups, 590
of prices, 388–389 see also, Catallactics; Market economy
Conquest, 645–646, 817, 828 see also, War
Consequence and anteriority, 99
Conservation, 652–653
Consistency (Constancy), 103–104
Constituent Assembly, 284n
Consumers
business propaganda and, 316–319
choices of, 63
demand of, 241, 495, 553
goods, 93–94, 330, 487
policy 312, 315
prices and 328, 390
service to, 227
sovereignty of, 270–272, 297, 305, 308, 495, 724
surplus and, 385
Consumers
value judgment and, 328 see also, Entrepreneurs; Market economy
Consumption
affected by monopoly prices, 381–384
capital, 261, 481, 511–514, 846
government interference with, 727–729
production and, 354, 427 see also, Underconsumption
Continental currency, 425
Contraction, credit, 564–567
Contractual bonds, 196–199, 280, 497
Contracyclical policies, 792–794
Control
foreign exchange, 794–796
of supply, in monopoly, 357
population, 663–669
price, 752, 756–763, 822
qualitative credit, 790
rationing, 757, 822
rent, 759–761 see also, Interventionism; New Deal; Planning
Conventionalism, 39
Convertibility of capital goods, 499–502, 505, 510
Cooperation
human, 143–145, 157, 663, 712
international monetary, 473–75
social, 2, 147n, 179, 184, 196, 280, 285, 668; Part 5, pp. 685–711; 830; see also, Action, human
Copernicus, Nicolaus, 58, 186
Copyright, 382–383, 657–658, 676–677
Corn-hog cycle, 583
Corn
Laws, 82
Corporations, 303–304, 532n, 703–704
Corporativism and syndicalism, ch. 33, pp. 808–816
Cosmology, 18, 192, 634
Cost
accounting, 336–347
comparative, 158–163
entrepreneurial, 341
external, 650–656
of production, 340, 367
of restriction, 737
phenomenon of Valuation, 393–394
prices and, 97, 349
real, 393, 632
reduction, 344
shipment, 450 see also, Economic calculation; Market economy; Money
Crack-up boom, 424, 433
Cranks, monetary, 186
Creative genius, see, Genius
Credit
circulation, 430, 567–573
commodity, 430
contraction, 564–567
expansion, see, Credit expansion
manipulation, currency and, ch. 31, pp. 774–799
money, 425–426, 432n
qualitative control, 790
Credit expansion
creation of, 434, 439n
definition of, 431, 568, 787
effect of, 548–562, 771, 787–792
gold standard and, 470, 473
interest, trade cycle and, ch. 20, pp. 535–583 see also, Cycle theory; Deflation; Depression; Inflation; Malinvestment; Money
Creditors
unpopularity of, 537–538
versus debtors, 536, 777, 785
Currency
Continental, 425
credit manipulation and, ch. 31, pp. 774–799
debasement, 774–775
deposit, 443
devaluation, 462–463, 781–787
government, 774–777, 784
School, 204, 435, 437 439, 568–569
theory, 559n see also, Fiats; Legal tender; Money
Cycle theory
contracyclical policies, 792
corn-hog, 583
monetary or circulation credit, 204, 567–573
nonmonetary, 551–552, 578–583
sunspot, 579
trade, 204; ch. 20, pp. 535–583; 788 see also, Credit expansion; Deflation; Depression; Inflation
D
Darwinism, 170, 173–175
DaVanzati, Bernardo, 232
Debasement, currency, 774–775
Debt
abatement or aggravation of, 777–779
public, 226–229, 843–845
Debtors and creditors, 536, 777, 785
Deduction by reasoning, 38
Deflation, 419–421, 428, 564–567, 779 see also, Cycle theory; Depression; Money
Deists, 69
Deity, 1, 151
Demand
consumer, 241, 553
elasticity of, 55, 349
for money, 398–402
for Swedish products, 793n
measurement of, 349
monopoly of, 380–381, 591–593
supply and, see, Supply, demand and
Democracy
case for, 76n, 150, 846
eighteenth-century, 174
elections in, 647n
industrial, 281, 809
majority rule in, 76, 149, 153, 189, 193, 647n
market, 271, 678
Depletion of natural resources, 135n, 383, 635, 652–653
Depression
contracyclical policy, 792
creation of, 204n, 423, 431, 560, 579, 791
effect of, 573
of 1929, 849
under totalitarianism, 562–563 see also, Credit expansion; Cycle theory; Deflation; Inflation; Malinvestment
Deproletarianization, 665
Destruction and aggression, 169–173
Devaluation and currency, 462–463, 781–787
Devil, the, 51
Dialectical materialism, 79–84
Dickinson, Henry Douglas, 702n, 706n
Dictatorship, 113, 647 see also, Government; Totalitarianism
Dietz, Frederick Charles, 617n
Dietzgen, Eugen, 74n
Differential rent, 632
Discount rate and external drain, 459
Discrimination
of prices, 385–388 see also, Valuation
Disequilibrium, 428
Disproportionality of trade cycle, 581–583
Distribution, 255, 335, 391, 800 see also, Consumers; Entrepreneurs; Prices
Disutility of labor, see, Labor, disutility of
Dividends, corporation, 532n
Division of labor, see, Labor, division of
Dorn, Walter Louis, 614n
Douglas, Clifford Hugh, 186
Douglas, Paul, 349
Dridzo, Solomon Abramovich, (Lozovsky, A., pseud.), 765n
Dualism, 17–18, 712
Duopoly, 359–360
Durable goods doctrine, 581
Duration of serviceableness, 476–477, 479
Dynamics, 258, 353
E
East versus West, 84, 495, 665, 836
Eclecticism, 185
Econometrics, 348, 349
Economic autarky, 267n, 314
Economic calculation, Part 3, pp.201–232; ch. 26, pp. 694–711
capitalism and, 231, 260, 488, 511
limits of, 215–218
market and nonmarket and, 206, 210–212
money and, 215, 225, 230, 260
problem of, 207–210, 345
results of, 421–422
socialism under, ch. 26, pp. 694–711
sphere of, ch. 12, pp. 213–229
theory of, 199–232, 260, 421–422, 692–711, 856
valuation without, ch. 11, pp. 20–212 see also, Mathematics; Measurement; Quantitative economics
Economics
armchair, 9
backwardness of, 7–8, 56, 664n, 865
bourgeois, 78
calculation, see, Economic calculation
citizens and, 874–875
cognition of, 205, 881
defined, 10, 225n, 266, 881
denial of, 4, 7, 21, 235–237, 643
effects, long-run and short-run, 82–83, 294, 649, 650, 744, 787, 844
education and, 872–874
epistemological character of, 4; ch. 2, pp. 30–71
external, 650–656
freedom and, 875–876
government policy and, 239, 467
history and, 51, 66, 266, 327, 426, 502, 603, 863–865
law of, 755–756
learning and, ch. 38, pp. 863–876
logical method of, 2 51, 347
mathematical method of, 251, 257, 330, 347–354, 374–376, 396, 697–698, 706–711
nondescript character of, ch. 37, pp. 858–862
objectives of, 6, 185, 203, 354
of market society, Part 4, pp. 233–684
philosophy of laymen, 464
praxeology and, 1–3, 92, 95, 497, 879, 881
prediction of, 105, 117, 866
privileges and, 81, 313, 658–659, 742
problems of human existence and, ch. 39, pp. 877–881
procedure of, 64–69
profession of, 865–866
public opinion and, 537, 859–860
quantitative, 55–57, 118, 347–349
realism and, 646
restriction and, 749–751
revolt against, 9, 67–68; ch. 3, pp. 72–91; 755–756
Ricardian, see, Ricardo, David
scarcity and, 93, 236–237, 525
singularity of, 858–859
society and, Part 7, pp. 858–881
specialization of, 69, 870
study of, 3, 64, 491, 863–865
teaching of, 868–874
theory of, 6–10, 202
universities and, 868–872
value judgment and, 10, 21, 295, 256, 879–881