Chapter 162 of 163 · Man, Economy, and State, with Power and Market by Murray N. Rothbard

Index of Subjects

7,423 words · All 163 chapters

Ability and earnings, 1354
Ability to pay, 1224–31
Abundance, 654; see also Saving; Scarcity
Acceleration principle, 860(n70), 868–74, 869(n78), 870(n79), 874(n82)
Accounting, 198, 200, 843(n58), 863
Action
- types of interpersonal, 79–94; see also Human action
Adulteration, 1098, 1099(n19)
Advertising, 666(n28), 738(n88), 888, 978, 978(n93), 981(n97), 1071
Aesthetics, 74
Affluence, growth, and government, 962–89
- Galbraith and sin of, 973–89
Aggression, 101, 877; see also Government
Agriculture, 487
Air, 8(n10), 92
Air pollution, 182
Alienation, 1317–18
Altruism, 1321–23
Anarchism, 1347
“Anarchy of production,” 876, 1024
Animals, 2(n5), 172
Antitrust laws, 907, 1117–21
Arbitrage, 119
Association, law, 98
Austria, 534(n20)
Austrian School of economics, xx, xxviii–xxxi, liv, lviii
- business cycle, 1007, 1008(n115)
- costs, 343(n16), 588
- economists, 356, 356(n21)
- investment, 535
- land and labor, 481
- marginal utility theory, 356(n21)
- praxeology; See Praxeology
- present state of, lix
- price, 817
- production, 481, 627(n70)
- progress of, lviii, lix
- taxation, 909, 1160
- time, 1199(n43), 1201
- vs. neoclassical economics, 1124(n53)
Autistic intervention, 877
Average physical product, 37(table 1), 468–75, 469(table 13), 472(fig. 59), 473(table 14)
Averages, 838, 839(n56)

Balance of payments, 198, 205, 210, 822–26, 825(table 16), 824(n43), 1011(n119)
Bankruptcy, 1011, 1028
Bankruptcy laws, 180, 551(n38)
Banks and banking
- Belgium, 810(n35)
- central, 1013(n122), 1015, 1016(n125), 1017(n126)
- checks, 804
- credit expansion, 873, 1008, 1013
- demand deposits, 804, 804(n30, n31)
- deposit insurance, 1009(n118)
- fraud, 802, 809(n33), 1009(n117)
- free, 1013, 1013(n122)
- government, 811, 1009(n117)
- Holland, 810(n35)
- loans, 793
- money warehouses, 800–04
- 100 percent reserve, 804, 807, 810–11, 831(n47), 1007(n114)
- promissory notes, 811(n37)
- purposes, 800
- receipts, 801, 802, 803, 804(n31), 808
- reserve, 804, 806, 810(n34), 1016(n125)
- savings, 804(n30)
- Switzerland, 810(n35)
- time deposits, 804(n30)
- see also Money; Trade
Bargaining
- collective, 715
- Mises's view, 365(n29), 456(n3)
- prices, 362–66, 456(n3)
- power, 1329(n21)
- skill, 109
- theory, 363(n27), 364, 477, 566
Barter, lvi
- agreements, 187, 636
- effects, 238, 931(n45)
- free market of, lvi
- ratios, 235
- taxation, 914(n34)
- time component, 270, 273(n20)
- see also Direct exchange
Basing-point system, 621(n67), 1121, 1122(n49)
Beggars, 1321(n16)
Begging, 943, 943(n59)
Behaviorism, 1, 43(n27), 482; see also Human action
Belgium, banks, 671(n35)
Belonging, sense of, 100
Benefit principle of taxation, 923, 1225(n66), 1235(n79), 1242(n81), 1236–40, 1248(n85)
Benefits
- at the expense of others, 880
- external, 1029–41, 1035(n149), 1037(n150), 1041(n152)
- government, 1029–1041
- money, 765
- mutual, 879
- psychic, 575
- saving-investment, 547–49
- taxation, 908, 932
Betting, 555, 555(n44), 1333(n23)
Bills of exchange, 821, 827–28
Bimetallism, 828, 899, 1081
Binary intervention, 877, 879, 881(n6), 907–994
Biology, metaphor, 970, 1001
Black market, 888, 893, 899, 901, 960
Blacklist, 179
Blackmail, 183(n49)
Bonds, 445
Booms, 937, 1002, 1006, 1006(n113), 1018–21,
Bootleggers, 900, 902(n24)
Borrowing, 417, 445, 551(n38), 913, 1025–28
Boycott, 179
Brand name, 664
Bribery, 893, 893(n20), 896, 901
Budget, government, 907–14
Bureaucracy, 892(n19), 901, 908, 961, 1027
Business
- acceleration principle, 868
- advertising, 666(n28), 738(n88), 888, 978
- calculation, 611(fig. 66)
- cartels, 636, 652, 659
- cost, 588–600
- cycles
  - Austrian theory, 1007, 1008(n115)
  - capitalism, 853
  - causal sequence, 854(n64)
  - credit expansion, 873
  - depression, 581, 984, 1000, 1005
  - errors, 852
  - fallacies of, 1299
  - inflation, 989–1024
  - overoptimism and overpessimism, 854, 854(n64)
  - pattern, 851, 1008
  - Schumpeter's theory, 854–59
  - secondary developments, 1004–08
  - specific, 855(n66)
- decision-making, 602
- decision-rents, 603
- evenly rotating economy, 602
- excess capacity, 726
- expansion, 907(n28)
- fluctuations, 851–54
- forecasting, 64, 159, 293, 639, 732, 873
- government in, 946–52
- income, 601–05
- innovations, 546, 746, 858, 961
- inventories, 863(n71)
- joint-stock companies, 426–43, 438(fig. 53), 686(n51), 951(n65)
- loss, 684(n47)
- marginal, 603
- measuring changes, 848
- motivation, 666(n27)
- oligopoly, 722
- organization, 429
- size
  - competition, 684(47n)
  - determined, 597(n42), 599(n44), 650, 659–61, 683
  - economics and technology, 645–51
  - vertical integration, 394, 609–16, 610(fig. 65)
- tax, 928–29, 930
- transactions, 648
- see also Entrepreneurship; Evenly rotating economy; Monopoly
Buying and selling
- costs, 276, 340, 599, 736–38
- discrimination, 160
- entrepreneurship, 159
- exchange gains, 257
- marginal, 117, 238, 254, 275
- maximum and minimum, 108
- measurement, 117
- money, 758
- preferences, 206, 255, 741
- prices, 103, 106, 109(n23), 112, 127(table 3), 235, 739
- profit and loss, 289
- prohibited, 900
- restricted, 153
- revenue, 161
- speculation, 130, 873
- stock withheld, 137, 139
- time, 157
- utility, 239, 254, 275
- value scales. See Value scales, buyers and sellers
- zones, 250(n8)
- see also Demand; Supply
Calculation
- accounting, 198, 202, 843(n58), 863
- business, 606–09, 611(fig. 66)
- chaos, centers, 952–53
- co-operatives, 433, 608
- economic, 614, 844, 1267–73, 1363–64, 1275(n16)
- evenly rotating economy, 616
- market, 606–09
- see also Measurement; Money
Canals, private, 984(n99)
Capital
- accumulation, production structure, 537–43, 1168(n21)
- Böhm-Bawerk's views, 58–59, 374(n6)
- choosing, 55, 415
- circulation, 535(n21)
- consumption, 47, 55, 534
- defined, 967
- evenly rotating economy, 399, 450, 480
- expanded, 436
- formation, 47–70, 966(n77)
- goods
  - Benham's views, 56
  - Böhm-Bawerk's views, 58–59, 483, 489(n23)
  - convertible, 65
  - defined, 299
  - durable, 391, 535(n21)
  - identified, 10
  - land, 479–88, 494, 506(n36)
  - market, 613
  - Mises’ views, 483, 581(n21)
  - owners, 333, 345–48
  - perishable, 53
  - pricing, 522
  - stages, 208(fig. 32), 534(n18)
- interest rate, 373
- investment, 207, 532, 719
- labor, 506(n36)
- limited, 639(n6)
- maintaining, 398
- marginal efficiency, 371(n5)
- national, 491
- permanence, 402
- production, 40–41, 479, 537
- stockholders, 426
- values
  - aggregate profits in changing economy, 527–36
  - determination, 490
  - equilibrium, 291
- see also Investments; Money; Production
Capitalism
- business cycles, 855
- choice, 415
- corporate, 434
- criticism, 974
- decisions, 399
- demand, 406
- “economic power,” 346
- entrepreneurs, 510, 527, 536, 578, 639(n6)
- function, 374
- German theory, 973(n87)
- income, 368, 396, 518–19
- investments, 207, 532, 719
- money, individual stock and time preference, 410–16
- ownership, 333, 345–48
- producers’, 392, 395, 406
- production, 345–48, 410–16
- rent, 488–95
- savings, 345
- services, 347
- trial by intellectuals, 974(n89)
- see also Evenly rotating economy; Market economy
Capitalists; see also Capitalism
Capitalization, lvii, 488–95, 528(n13), 533(n17)
Cartels
- agreements, 181, 634, 1119
- compulsory, 1094, 1099–1100
- consequences
  - economics, technology, and size of firm, 645–51
  - free competition, 653–58
  - instability, 651–53
  - mergers and corporations, 643–44
  - monopoly prices, 636–43
  - problem of one big company, 659–61
- consumers’ sovereignty, 641
- German, 683(n46)
- morality, 641
- socialism, 659
- voluntary, 905, 1119
Case probability, 60(n36)
Cash balance, 203, 264, 759–60, 775, 805, 1168(n21), 1181(n33)
Cash holding, 203, 850
Caste system, 641, 881(n6), 902(n24), 1062(n5)
Catallactics
- competition, 676(n41)
- consumption, 630(n2)
- idleness, 586(n25)
- labor, 565, 714(n66)
- scope, 215, 299
- unionism, 714(n66)
- see also Capitalism; Economics; Market economy; Rent
Catholic thought, 1335–36
Cause and effect, 43(n27), 454, 591–92
Center for Libertarian Studies, lix
Central planning
- India, 970(n83)
- innovations, 961, 961(n74)
- prohibitions, 960
- research, 961(n74)
- socialism, 958–66
Champagne, fairs of, 1051
Changes
- equilibrium, 321
- interest rate, 466(fig. 57), 549–52
- investment, 532
- measuring, 848
- money, 415, 762–64, 811–15
- prices, 142–52, 288(table 10), 522
- production, 509–55
- valuation, 39, 527
- see also Direct exchange; Human action; Indirect exchange
Changing economy, 509–55
Charging what the traffic will bear, 663
Charity, 943, 943(n58), 1258, 1314, 1318–21, 1321(n16, n17), 1354
Checks and balances, 1054
Chicago School, 705(n58), 912, 1196
Children, 93(n12); see also Laws, child labor
Choosing
- capital, 55, 415
- consumer, 629, 667, 885–86, 969(n80)
- differentiation, 666(n28)
- economizing, 5
- goods, 55, 294
- investment, 216, 219
- limited, 1034(n147)
- location, 1034
- marginal utility, 30, 278
- means and ends, 1–2, 5
- planning, 71, 279–80
- praxeology, 306, 481
- production, 482
- slavery, 81, 987(n102)
- voluntary, 84(n6), 635
- see also Valuation
Circularity, 268, 454, 535(n21), 760–61
Civil Aeronautics Board, 1095(n15)
Civil disobedience, 1187
Claims, types, 165
Class probability, 553
Clear and present danger, 1100(n22)
Clearing system, 771, 771(n8), 821–26
Coercion, 1326–29, 1345–46
- “external” benefits, 1029
- free market, 1024–25
- unions, 897, 897(n22), 974
- see also Government
Coining money, 197(n7), 799, 800(n29)
- private, 1144–46
Commodity
- marketable, 189, 191(fig. 31)
- money, 196, 204, 764, 798–800
- trade, 122, 196
- see also Stock
Communism, 172, 959, 959(n71, n72)
Compensatory fiscal policy, 1023
Competition
- cartels, 653–58
- cutthroat, 681–87, 684(n48)
- effects, 109
- environment, 675–76
- free, 653–58
- limited, 949
- location, 675–76
- monopolistic, 629–30; see also Monopoly
- prices, 635, 680, 704, 903
- pure, 593(n35), 720, 727(fig. 70), 732(fig. 71), 1352(n36), 1352
- right of, 657
- welfare ideas, 298, 723(n72)
- see also Market economy
Conceptual realism, 1279(n19)
Conflict
- command posts, 953–55
- harmony, 876(n2), 881
- intervention and, 1061–65
- see also Government
Conscription, 878, 1113
Conservation, 907(n28), 1037; see also Laws, conservation
Conservatives, 615(n60), 934, 947, 955, 969, 992, 1028
Constants, 845(n59), 849, 863
Constitutions, 1291(n28)
Construct, imaginary and model, 576(n15)
Consumers
- action, 56, 280, 298
- advertising, 666(n28), 738(n88), 888, 978
- choice, 630, 667, 885, 969(n80), 1070–71, 1301, 1324
- credit, 983
- demand, 96, 297, 416, 672
- dictatorship and, 1303–06, 1303(n5)
- goods, 7
  - durable. See Goods, durable
  - exchangeable and nonexchangeable, 162–69, 207, 214, 300
  - interrelations, 280–88
  - money, 197, 200, 261
  - prices, 227; see also Prices, consumption
- income, 605
- innovations, 856(n67), 988(n103)
- irrationality, 666(n27)
- loan market, 371(n5), 375, 420, 435, 451(n44), 551
- marginal utility of money, 261–68
- morality, 632
- preferences, 207, 255, 514, 666(n28)
- rationality, 666(n27)
- risks, 548, 551, 681, 886
- satisfactions, 298–302
- scarcity, 12, 34, 330
- services, 12, 56, 605–06
- sovereignty
  - Hutt's views, 631(n3), 631–36, 653
  - individual, 339(n12), 629–30
- spending. See Spending
- surplus, 259, 261
- tax, 914
- time, 9, 42, 404
- valuation, 569
- see also Entrepreneurship; Market economy
Consumption
- antiproductive, 941
- budget studies, 862
- capital, 47, 55, 534
- catallactics, 630(n2)
- defined, 53
- economics of, lvi
- evaluated, 38
- function, 777, 778–79, 860–66, 864(n72), 865(n75), 867(n76)
- Galbraith's attack, 973, 984
- investment ratios, 860, 861(fig. 82), 997
- nonproductive, 941(n57)
- present and future, 278, 919, 919(n38)
- prices, 233–317; see also Prices
- Russian, 966
- savings, 400, 413(fig. 49)
- services, 333(n8)
- surplus, 259, 261
- see also Goods; Production
Contracts
- agreements, voluntary, 91
- damages, 177
- enforcement, 176
- free-market, 295
- interest, 441, 504(n35)
- law, 178(n45)
- marriage, 164(n35)
Control
- ownership, 659(n19)
- price, 658(n17), 664(n26), 892–900, 893(fig. 83), 895(fig. 84)
- product, triangular intervention, 900–07
- see also Government
Convertibility and valuation, 38–42, 65
Co-operation
- activity, 99, 102(n19), 697, 1119
- compulsory, 84(n6), 643
- peaceful, 1325
- right, 657
- see also Human action
Co-operatives, 433, 608, 608(n54), 1252(n88), 1280
Copyrights and patents, 673(n38), 746(n93), 745–54, 748(n96, n97), 1133(n68); see also Patents

Corporations, 430, 433, 1143–44, 1252(n88), 1281(n21), 1353; see also Joint-stock company
Costs
- Austrian School, 343(n16)
- average, 592
- bibliographical references, 600(n48)
- business, 588–600, 733, 928
- buying and selling, 276, 341, 599, 736–38
- comparative, 98
- curve. See Curves, cost
- determined, 136, 734(fig. 72)
- external, 1035(n148)
- firm, 588–600
- fixed, 591
- human action, 262
- interest, 354(n19)
- labor, 577
- land, 342
- marginal and government, 950
- marginal private, 950(n63)
- marginal social, 950(n63)
- marginal utility, 264, 276–79
- money, prices, and A. Marshall, 275, 353–62, 588, 598–99, 674(n39)
- monopoly, 734(fig. 72), 736
- opportunity, 607
- principle, 1242, 1242(n80)
- production, xxxvi–xxxviii, 340–45, 353–62, 597, 618(n64), 737(n86)
- psychic, 104, 160, 262
- restriction, 704, 906
- revenues, 104, 135, 160, 209, 255
- rise and fall, 790(n25)
- selling, 276, 333(n8), 341, 599, 736–38, 737(n86)
- significance, 342(n14)
- storage, 157(n31)
- subjective, 343
- transportation, 618(n64), 619, 820
- use, 264, 276–79
- see also Market economy; Money
Counterfeiting, 1145, 1249(n86)
Countervailing power, 736(n83)
Credit
- consumer, 984
- contraction, 1006(n113), 1007(n114)
- debt, 180, 439, 439(n36)
- default, 180
- exchange, 166
- negotiable instruments, 181
- transaction, 168, 440, 772, 823
Credit expansion
- banks, 1008, 1012
- business cycle, 989–1024
- deflation, 917(n35), 1005
- depression, 581, 984, 1000, 1005
- effects, 998
- government promotion, 1014–18
- inflation, 989–94
- limits, 1008–14
- shareholders, 429, 439
Crusoe economics, 43, 47, 79, 80, 95, 103, 187, 366, 537, 636(n4), 653, 726
Curves
- cost, 589, 589(n29), 591, 592(n33), 595(n39), 598, 600(n47), 660, 727, 733, 736(n82)
- demand
  - changes, 147
  - competition, 720
  - defined, 121, 724
  - effect, 251(fig. 37), 675, 728(n75)
  - elastic and inelastic, 641, 676, 722, 904, 1130(n64)
  - example, 249(fig. 35)
  - labor, 572(fig. 63), 573(fig. 64)
  - land, 568, 568(fig. 62), 694
  - long-run and short-run, 733
  - marginal utility, 124
  - modified, 132(fig. 19), 134(fig. 22), 251
  - possible pattern, 121(fig. 14)
  - prices, 894
  - reservation, 250(fig. 36), 759
  - shape, 733
  - simplified, 132(fig. 18)
  - total, 249(fig. 35), 760, 762
  - vertical, 759
- speculation, 251
- stock, 249(fig. 35)
- supply
  - defined, 121
  - changes, 147
  - effect, 251(fig. 37), 574(n14)
  - example, 249(fig. 35)
  - labor, 572(fig. 63), 573(fig. 64)
  - land, 568, 568(fig. 62)
  - modified, 132(fig. 20)
  - possible pattern, 121(fig. 14)
  - prices, 1024
  - reservation, 250(fig. 36), 756
  - seller's, 245(fig. 34)
- time market
  - aggregate, 388(fig. 44)
  - individual, 387(fig. 43)
  - interest rate, 414(fig. 50)
- total outlay, 128(fig. 17)
- see also Value scales
Debt
- credit, 180, 439, 439(n36)
- default, 180
- money, 178(n45)
- outcome, 177
- public, 1027, 1027(n137)
Defamation, 182
Deflation, 917(n35), 1006, 1159(n13); seealso Money
Demand
- capitalists, 406
- cash, 789
- consumer, 95, 297, 416, 672
- curve. See Curves, demand
- elasticity, 126–30, 676, 722, 1163(n16)
- excess, 118
- gold, 272, 899
- goods. See Goods, demand
- income, 416–20
- increase, 23, 239
- individual, 381(n8)
- labor, 406, 572(fig. 63), 573(fig. 64)
- land, 406, 568
- market, 155; see also Market economy
- money. See Money
- nonmonetary, 760
- price, 23, 115, 126, 138–39, 249–57
- production, 95, 416–20
- quantity, 153(fig. 28)
- renting, 294
- reservation, 137, 247, 253, 294, 756
- schedules. See Schedules
- silver, 899
- speculation, 130–37, 251, 768–71, 770(fig. 77)
- stock withheld, 137, 139
- total to hold, 137–42, 138(table 4), 139(fig. 23), 148(fig. 25), 247
- utility, 252
Democracy, 890, 891(n18), 1065–67, 1279–81, 1280(n20), 1282(n23), 1286(n24, n25), 1288(n27)
- classical, 1282–83
- modern, 1285–87, 1286(n24)
- peaceful change and, 1288–89
- socialism and, 1281–82
Depression, 581, 984, 1000, 1005
Determinism, 978
Dictatorship, 886, 886(n12)
Direct exchange
- continuing markets, 142–52
- division of labor, 95–102
- demand, 126–42
- exchangeable goods, 162–69, 214, 215(n14)
- interpersonal action, 79–94
- land, 170
- limitations, 187–89
- prices, 106, 142
- property, 169
- society, contractual, 84–94, 99
- specialization and stock production, 153–61, 156(fig. 29)
- speculation, 130–37
- stock, 137–42, 139(fig. 23), 153–61
- supply and demand schedules, 137–42
- terms, 103–06
- violence, 79–84
- voluntary action, 84–94
- see also Exchange
Discounting, 453–78, 480
Discrimination, 159–60, 666(n28)
- see also Valuation
Distribution
- fallacy, 477, 622–24
- functional and personal, 623
- income, 912
- land, 618, 937(n51)
- problem of, 1153–55
- stock companies, 438(fig. 53)
- see also Entrepreneurship
Disutility, 44, 49
Diversity, 1309
Dividends, 433, 440
Dollar, origin, 197(n7)
Durable goods. See Goods, durable

Earnings, implicit, and market calculation, 606–09
Econometricians, 325(n2)
Econometrics, liv, 1357–69
Economic
- means, the, 1254
- power, 1326–29, 1332
- principles, lv
Economics
- action, 72–77, 280(n26), 324(n1)
- Austrian School. See Austrian School
- basis, 2
- calculation, 614, 843–44
- Cambridge, liv
- Crusoe, 47, 80, 95, 103, 537, 636(n4)
- defined, 162, 875(n1)
- education, 744, 954
- epistemological character, 865
- firm, theory, 506(n36)
- fragmentation of, lii
- Galbraith's views, 973–88
- indifference concept, 307
- interdisciplinary mixtures with, lii
- interrelations, 589(n28)
- Keynes’ views, 582
- land, 171, 485
- location and spatial relations, 617–22
- market economy, 84–185
- mathematics, 75, 306, 325, 785
- neoclassical, 424, 582, 1124(n53)
- of growth, 1335
- population, 562, 860(n70)
- praxeology, 72–77
- prediction, 64, 159, 293, 639, 731, 873
- public policy and, 1357–69
- resources, 171–72, 174(n42), 486
- Ricardian, 718–19
- scarcity. See Scarcity
- science, 357
- Schumpeter's views, 450, 729, 851–52
- technology, and size of firm, 645–51
- unemployment, 581, 783, 790
- unions, 713
- violent intervention in market, 875–1041
  - benefits, external, 1029–1041
  - binary, 877, 880, 907–94
  - booms, 1018–21
  - borrowing, 1025–28
  - budget, 907–14
  - business, 946–52, 989–1024
  - centers of calculational chaos, 952–53
  - coercion and free market, 1024–25
  - compensatory fiscal policy, 1021–24
  - conflict and command posts, 953–55
  - control
    - price, 892–900
    - product, 900–07
  - credit expansion, 989–1004, 1008–18
  - free market and coercion, 1024–25
  - Galbraith and sin of affluence, 973–88
  - goods, collective, 1029–41
  - government
    - arguments, 1029–41
    - borrowing, 1025–28
    - budget, 907–14
    - business basis, 946–52
    - credit expansion, 1014–18
    - expenditures, 938–41
    - free market, 1024–25
    - growth and affluence, 962–88
  - income tax, 914–19
  - industry tax, 927–31
  - inflation, 989–1024
  - introduction, 875–76
  - land tax, 934–37
  - mathematical, liv
  - neutral tax, 919–27
  - ownership, public, 955–57
  - planning, central, 958–61
  - price control, 892–900
  - product control, 900–07
  - productivity, contribution, 938–41
  - purchasing power tax, 937
  - resource-using activities, 944–46
  - sales tax, 930–34
  - shifting and incidence, 927–30
  - social security, 957
  - socialism, 614, 958–61
  - subsidies, 942–44
  - taxation, 914–38
  - transfer payments, 942–44
  - triangular intervention, 878, 892–907
  - typology of intervention, 877–78
  - unemployment, 582
  - unhampered, 2, 84–185
  - utility
    - effects, 878–85
    - ex post free-market government, 831–42
    - intervention, 877, 891
  - values, land, 171, 934–37
- welfare, 623(n69), 876(n2), 879(n3), 1360–62
Economists
- Austrian, 368
- Cambridge, 841
- Chicago School, 912
- classical, 217(n15), 332(n7), 343(n16), 351, 356, 358(n23), 373
- conservative, 615(n60), 934, 947, 955, 969, 992, 1028
- mathematical, 325(n2)
- Walrasian, 589(n28)
Economy
- changing, 509, 527–36
- imaginary construction, 143(n29), 534, 576(n15), 627, 876
- money, 195, 233, 268, 281
- primitive, 47, 79, 95, 103, 537, 636(n4)
- progressing. See Progressing economy
- retrogressing, 532, 532(n16), 536
- Russian, 959, 959(n72), 966, 971(n84)
- stationary, 533, 627
- see also Entrepreneurship; Evenly rotating economy; Market economy
Education, 577, 744, 954, 982(n98)
Egypt, steel mills, 966(n77)
Elasticity of demand, 126–30, 676, 721
Eminent domain, 1139–41, 1140(n72), 1141(n73, n74)
Empiricism, liv
Employment, 582, 605 780(fig. 79); see also Labor
Ends. See Means and ends
England
- contract law, 178(n45)
- Currency School, 1012
- development, 984(n99)
- Industrial Revolution, 972
- monopoly, 669
Entrepreneurs, 1125(n55), 1140(n72)
Entrepreneurship, 1313, 1359
- act, 64
- aim, 569
- appraisement, 316
- booms, 1018
- capitalist, 510, 527, 536, 578, 639(n6)
- change, 509–55
- decision-making ability, 598
- durable consumers’ goods, 288, 296
- forecasting, 64, 159, 293, 639, 732, 873
- function, 434, 509, 511
- income, 588–616
- innovations, 210, 546–47, 856
- interest, 549–52
- investment, 210, 517–27, 547–49, 950
- labor, 605
- production, 509–55
- profits and loss, 509–16, 527–36, 607, 885, 895
- purpose, 349
- risks, 548, 550, 682, 886
- scarcity, 639(n6)
- transportation costs, 619
- see also Consumers; Market economy
Egalitarianism, 1234(n78), 1308–12
Environment, 3, 675–76; see also Location
Envy, 1068
Epistemology, 865
Equality
- before the law, 1218–21, 1311(n12)
- marginal utility, 302
- of opportunity, 1310
- prices, 694–95
- privilege, 906(n27), 907(n28)
- purchasing power, 620
- tax, 919
- utility, 307
Equilibrium
- basis, 539
- capital value, 292
- changing, 321
- exchange, 146(table 5)
- final, 108, 134(fig. 21), 321, 325(n2), 727(fig. 70)
- general, lvii, 589(n28), 910
- interest rate, 418(fig. 51), 735(fig. 73)
- mathematics, 325(n2)
- money value, 761(fig. 74)
- partial, 910
- prices
  - determined, 106–26, 120(fig. 13), 131, 789
  - exchange, 146(table 5)
  - identical, 248
  - market, 143(n29), 246
  - movement, 142, 812
  - products and services, 790(n24)
- process, 372
- speculation, 250
- supply and demand, 139
- unemployment, 783
- zone, 250(n8)
Ethics
- antimarket, 1297–56
- economics and, 713, 1360–65
- impossible, 1174(n25), 1223(n63)
- market and, 632, 1215
- philosophy of, 73, 74
- rational, 1029, 1029(n140, n141)
Eudaemonism, 1356(n37)
Evenly rotating economy (ERE), xxxiv(n35), xxxviii
- businessmen, 601
- calculation, 616
- capital, 399, 450, 480
- changes, 529(n14)
- essence, 514
- goals, 359
- interest rate, 362, 375, 446, 735, 909(n31)
- long-run values, 358–59
- money, 767–68
- pricing, 354, 453, 492
- production, 320–29, 514
- profits and losses, 509
- purpose, 349
- rent, 558
- state of rest, 143(n29)
Excess capacity, 67(n38), 642, 726–36, 764, 770, 874(n82)
Exchange
- action, 20, 70–72, 279
- aggression, 101
- autistic, 84
- barriers. See Trade
- bills, 827–28
- combinations, 102
- commodity, 189, 191(fig. 31)
- compulsory, 84
- continuing, 142
- contracts, 176
- credit, 166
- demand, 126–42, 756
- direct, lvi, 79–185
- division, 85, 95
- equal, 880, 880(n5)
- equation, 831–42
- equilibrium, 146(table 5)
- gains, 257–61
- gold, 273
- goods. See Goods, exchange
- importance, 87
- indirect, 187–231
- interlocal, 617–24, 818–26
- interpersonal, 84
- isolated, 107
- marginal utility, 86
- market, 187
- medium. See Money
- monetary, lvi
- motivation, 100
- pattern, 199
- prices, 106, 142–52
- production and consumption, 88, 630(n2)
- property, 92, 169
- quantity, 146(table 5)
- rate, 828–31
- reasons, 103
- resources, 223
- services, 162
- types, 163, 168–69
- value, 88, 99, 131, 223, 758
- voluntary, xciv 84–94, 876(n2)
- see also Market economy
Expenditures. See Spending
Experts, 1072, 1301
Exploitation, 84, 743, 881, 881(n6), 1352
Exports and imports
- balance of payments, 205, 823, 1011(n119)
- benefit, 212(n13)
- gold, 822
- goods, 202
- income, 822
- money, 202
- trade, 1011
External diseconomies, 181

Factors of production. See Production
Factory Acts, 1118(n36)
False assumptions, liv
Farm program, 1367–68
Fascist system, 959
Fees, 1247(n84)
Fines, 1154(n7)
Fire in crowded theater, 1339
Firms. See Business
Fiscal policy, compensatory, 1023
Fish, ownership, 174
Fisheries, 1127(n59)
Forecasting, 64, 159, 293, 639, 732, 876, 1357
Forests, 1126, 1126(n57), 1132
Franchises, 1138
Fraud, 183, 802, 1009(n117), 1099(n19), 1346
Freedom
- Left and Right, 1060(n4)
- of contract, 1344–47
- of speech, 1339
- to starve, 339, 1318
- to steal, 1342
Free market. See Market economy
Free rider, 965, 1036
French, railroads, 951(n65), 1265(n8)

Gains
- exchange, 257–61
- money relation, 811–15
- monopoly, 677–80, 691, 906
- psychic, 260
Gambling, 555, 555(n44), 1333, 1333(n23), 1334(n24)
Georgists
- individuals and the State, 956(n68)
- Ingalls’ views, 175, 175(n43)
- land ownership, 170–71
- land speculation, 570–72
- landowner function, 934–37, 936(n50)
- single tax, 935(n48), 937(n51)
- unearned increment, 1037–38, 1038(n151)
Germany, 683(n46), 973(n87), 1021
Gerrymandering, 1282
Gold
- coins, 198
- demand, 272, 899
- export points, 822
- fiat and, 1018(n127)
- governmental, 1017(n126)
- mining, 776(n10)
- money economy, 526(n11)
- nonmonetary use, 760, 767
- prices, 273
- reserve, 803–04
- silver, 828
- standard, 851, 1017
- use, 200
- see also Money
Goods
- alienable, 164
- capital. See Capital goods
- choosing, 55, 294
- collective, 1019, 1029–41, 1292(n29)
- complementary, 285
- consumers’. See Consumers, goods; Consumption
- demand
  - elasticity, 126–30, 676, 722
  - marginal utility, 239
  - present, 395, 406, 421
  - quantities, 115(table 2)
  - specific unit, 23
- durable
  - land, 405(n24)
  - prices and services, 16, 288–98
  - purchasing power, 316
  - reselling, 254
  - serviceable, 68
- export-import, 202
- exchange
  - interpersonal, 84
  - types, 8, 162–69, 206, 215(n14), 630(n2)
- exchangeable, 1324, 1350–56
- fixed stock, 149, 255
- “free,” 8(n10)
- homogeneous, 666(n27, n28), 667, 694, 700, 967
- inalienable, 164
- labor, 43
- marginal utility, 976
- marketable, 1323, 1350 ff.
- monetary attributes, 826–31
- movement, 610(fig. 65)
- nonexchangeable, 214, 215(n14), 1324
- ownership, 92, 332
- perishable, 53
- present and future
  - capitalists, 392, 406
  - interest rate, 348–53, 393(n14)
  - serviceableness, 68
  - supply and demand, 395, 421
  - value, 344, 375, 384
- prices
  - changes, 142, 288(table 10), 522
  - consumer, lvi
  - determination, 106–26, 238–57
  - interrelations, 280–88
- producers’. See Producers; Production
- purchasing, 199, 237
- relationship, 28
- selling, 127(table 3), 206, 254, 739
- specific and nonspecific, 38, 522
- stolen, 180(n46)
- substitutes, 282, 286
- supply, 23, 116, 139
- total outlay of sale, 127(table 3)
- types, 33
- utility, 252, 288, 296, 299, 375, 385
- valued, 21, 288, 296, 299, 375, 384
- warehouse receipts, 165
- see also Product
Government
- action, interpersonal, 84, 957(n69)
- activity, “collective goods” and “external benefits,” 1029–41, 1257(n3), 1292(n29)
- affluence and growth, 962–88
- arguments, 962(n75), 1026
- Austria, 534(n20)
- banks and banking, 810, 1009(n117)
- benefits, 1029–41
- borrowing, 1025–28, 1027(n136, n137), 1028(n139)
- budget, 907–14
- bureaucratic, 892(n19), 900, 908, 961, 1027
- business basis, fallacy, 946–52, 1261ff.
- charity, 943, 943(n59)
- central planning, 958–61
- coercion, 1024, 1030
- communistic, 173, 959, 959(n71, n72)
- compensatory fiscal policy, 1023
- competition in, 1034(n147)
- compulsory school attendance, 955
- conservation, 1037
- credit-expansion promoter, 1014–18
- criminals, 884, 945
- debt, 1027(n136, n137), 1028, 1028(n139)
- defense, 1270
- democratic, 890, 891(n18)
- dictatorship, 886, 886(n12)
- education, 954
- Egyptian, 966(n77)
- England, 178(n45), 669, 972, 984(n99)
- expenditures, 1149–51, 1167(n19), 1253–95
- experts, 889
- free market, utility ex ante and ex post, 885–91
- French railroads, 951(n65)
- Galbraith's views, 962–88
- German, 683(n46), 973(n87), 1021
- gifts to, 1057(n1), 1245–52
- grants, 545(n33), 669
- growth, 962–88
- “immortality,” 957(n69)
- Indian, 970(n83)
- industry, 613(n57)
- inefficiencies, 951
- inflation, 895, 1021
- interference. See Intervention
- investment, 966, 1259, 1262
- lending, 1274–75
- loans, 1026
- majority rule, 432, 883
- national product and, 1292–94
- needs, 983
- output, 969(n80)
- ownership, 953, 955, 1030, 1129(n63), 1259–78, 1266(n10), 1271(n13), 1276–79, 1278(n18), 1337–40
- Point Four, 542(n31)
- police, 944, 984, 1031, 1032
- poor relief, 942, 943(n58)
- post office, 951, 951(n64, n65), 952, 955, 956(n67)
- pricing, marginal costs, 950
- production, 939, 966
- productive contribution, 938–41
- profit-making enterprise, 86, 948
- propaganda, 982
- public utility, 516(n3)
- rivers, 954
- roads, 945, 946(n61), 948, 952(n66), 986, 1032
- sales, 1293(n30)
- savings, effects, 68, 1026
- schools, 954, 955, 986, 1269, 1271, 1271(n13)
- seas, 954
- services, 944, 950, 951(n65), 984, 1259ff., 1265(n8)
- shortages and, 1260
- social security, 957
- social utility, 882
- socialistic, 614, 659, 875, 935(n48), 958, 965, 971(n84)
- Soviet, 959, 959(n72), 966, 971(n84)
- spending. See Spending
- subsidies. See Subsidies
- subway, 952, 952(n66)
- streets, 1338
- tax. See Taxation
- unemployment relief, 944, 985
- uniformity, 1268(n12)
- unions, 897(n22)
- voluntary nature of, 883, 883(n10)
- waste, 66, 637, 647, 941, 1041(n152)
- water supply, 944
- world, 1051
Grazing, 1126(n57), 1127, 1127(n58)
Gresham's Law, 898, 1080, 1083, 1144
Group relations, 2–3, 433
Growth
- affluence and government, 962–88
  - Galbraith and sin of affluence, 973–88
  - problem, 962–73
- economic, 968

Happiness, 18
Harmony, 876(n2), 881
Hayekian paradigm
- discovery, lix
- knowledge, lix
Hedonism, 1356(n37)
Hegemonic relations, 82, 100, 636, 877–88
- principle, 1365–695
“Hidden persuaders,” 981(n97)
History, 74, 192, 258(n13)
Hoarding
- cash balance, 759
- Keynesian system, 776–92, 863
- liquidity preference, 785–92
- prices, 851
- social income, expenditures, and unemployment, 776–85
Holland, banks and banking, 810(n35)
Homestead principle, 1126, 1126(n57), 1127(n58), 1209, 1209(n54), 1212(n57), 1213, 1356
Hoover Commission Task Force Report, 961(n74)
Human action
- analysis, 43(n27), 875(n1)
- assumptions, 324(n1)
- behaviorism, 43(n27), 482
- capital formation, 47–70
- causal force, 323
- concept, 1–33
- consumer, 56, 281, 297
- convertibility and valuation, 38–42, 65
- co-operation, 99, 697
- costs, 262
- deliberate, 7(n9)
- determining, 306
- economics, xxii, 72–77, 280(n26), 324(n1)
- equality of utility, 307–08
- ex ante and ex post, 277, 885
- exchange, 20, 70–72, 279
- fundamentals, 1–77, 319–20
- goals, 658(n18)
- group relations, 2–3, 433
- indifference, 307, 309
- interaction, 79, 85
- interpersonal, 84, 957(n69)
- invasive and noninvasive, 93, 176
- labor vs. leisure, 42–47, 217, 344
- law
  - of marginal utility, 21–33, 73, 125
  - of returns, 33–38, 468
- mathematics, 326, 327(n5)
- means and ends, 8–13, 17–21, 658(n18)
- morality, 177, 633, 636, 641
- planned, 11, 280(n25)
- praxeology, 72–77, 877
- production
  - period, 9
  - process, 482
  - structure, 319–20, 333
  - theory, 33–47, 468
- qualitative, 324, 845
- rational, 310, 666(n27)
- real, 260
- stages, 159
- things, 835
- time, 13–17, 13(fig. 1)
- types, 94
- uncertainty, 7, 60, 265, 376, 552
- valuation, 17–21, 38, 309; see also Want-satisfaction
- violence, 80, 82, 875
- voluntary, 84
Human rights, 1338

Idleness
- catallactic, 586(n25)
- forced, 931(n45)
- land, 702
- money, 760, 767, 804(n30)
- resources, 692–93, 702
- see also Leisure
Imaginary constructions, xxxiv
- concept, 576(n15)
- state of rest, 143(n29)
- stationary economy, 533, 627
- see also Equilibrium; Evenly rotating economy
Immigration. See Laws, immigration
Import quota, 903
Imports. See Exports and imports
Income
- averaging, 1179(n31)
- benefits, 924
- business, 601–05
- capitalist, 368, 396, 518
- consumer, 605
- designated, 602–03
- distribution, 912
- earning process, 352
- entrepreneurs, 588–616
- exports and imports, 822
- factor, 335(fig. 40), 369(fig. 41), 478–79
- gross, 395
- inflation, 992
- interest, 368
- labor, 368, 605
- land, and labor, 368, 528, 605
- maximizing, 213–31, 561(n6)
- money, 198–206, 210, 224
- national, 397, 777(n12), 862
- net, 396
- post, demanders, 416–20
- productive, 557–627
- psychic, 213, 217, 221, 575, 633
- real, 525, 561(n6), 916
- social, 776–85, 778(fig. 78), 780(fig. 79), 859, 861(fig. 82)
- sources, 468–79, 606
- spending. See Spending
- tax, 914–19, 916(fig. 86), 920, 934, 934(n47)
- underdeveloped countries, 914(n34)
- voluntary, 81, 85
- wealth, 656, 743, 988(n103), 889
Indeterminacy, 365, 716–17
Index numbers, 845, 847(n60)
India, 970(n83)
Indifference, 307, 309
Indirect exchange
- emergence, 189–93
- expenditures, 198–213
- implications of emergence of money, 193–95
- income, 198–206, 213–31, 298
- limitations of direct exchange, 187–89
- maximizing income and allocating resources, 213–31
- monetary unit, 196–98
- money, 193–206, 299
- pattern, 187–231, 190(fig. 30)
- producers’ expenditures, 206–12
- see also Exchange
Individual
- action. See Human action
- atoms, 3(n6)
- group relations, 2–3, 433
- money, stock, 204, 416–20, 412(fig. 48), 413(fig. 49), 763(fig. 76)
- real monetary assets, 917(n35)
- society, 280(n26)
- sovereignty, 629–30; see also Consumers
- value scales. See Value scales
Industrial Revolution, 972
Industry
- acceleration principle, 868
- basing-point system, 621(n67)
- booms, 937, 1002, 1006(n113), 1018
- government, 613(n57)
- interest return, 734, 736, 909(n31)
- location, 619
- oil, 684(n48), 686(n51)
- planned, 613(n57)
- processes, 543(n32)
- steel, 579
- tax, 927–30
- taxicab, 906
- West German, 683(n46)
- see also Technology
Inelasticity, 635, 641, 676, 722
Inequality. See Equality
Infant industry argument, 1105–07, 1135
Inflation, lvii, lix, 119, 1077, 1158, 1158(n12)
- business cycle, 989–1024
- compensatory fiscal policy, 1021–24
- credit expansion, 989–94
- defined, 990(n106), 1022(n131)
- depressions, 581, 984, 1000, 1005
- effects, 991, 1005, 1083(n5),
- Galbraith's views, 984, 993–94
- German, 1021
- government fighting, 1021
- incomes, 993
- Keynesian, 784
- money supply, 1071
- prices, 1021, 1078
- process, 895
- tax, 1019
- wages, 784
Infringement, 1343
Inheritance, 1038
Innovations
- business procedures, 858
- central planning, 960
- consumers, 856(n67)
- entrepreneurs, 546–47, 973(n87)
- governmental, 973(n87)
- patents, 745
- planned, 961
- rents, 858(n69)
- research, 750, 980
- Schumpeter's explanation, 857
Interpersonal relations, lvi
Insurance, 1052, 1314–15
- regulations, 1116
- risk and uncertainty, 552–55
Integration, vertical, 609–16, 610(fig. 65), 611(fig. 66)
Interaction, 79–80, 85
Interest
- contract, 437(n35)
- cost, 354(n19), 735
- defined, 509
- earning by firm, 734
- George's view, 1201(n45)
- income, 368
- investment, 859–60
- Keynesian theory, 786
- originary, 539(n27)
- rate
  - capital, 373
  - changes, 466(fig. 57), 547–52
  - contractual, 437(n35), 441
  - determination, 362, 421(fig. 52)
  - entrepreneurs, 550–52
  - equilibrium, 418(fig. 51), 735(fig. 73)
  - evenly rotating economy, 362, 375, 446, 735, 909(n31)
  - Keynes’ views, 788(n22)
  - land, 405(n24)
  - loan, 793, 1027
  - long-run and short-run, 447(fig. 54)
  - market, 539–40, 550–52, 792, 999
  - natural, 371(n5), 793, 1005
  - present and future, 348–53, 393(n14)
  - prices, 371, 735(fig. 73)
  - production, 367–451, 549–52
  - purchasing power, 773–76, 792–98, 859–60
  - pure, 348–53, 370, 375–79, 790
  - return, 734, 735(fig. 73), 909(n31)
  - Schumpeter's views, 450
  - spread, 521(fig. 61)
  - time structure, 375–79, 414(fig. 50), 418(fig. 51), 445–51, 449(fig. 55)
  - uniform, 408(fig. 47), 617
  - zero, 450
International trade, theory of, 1101
Intervention
- analyzed, 875, 875(n1)
- autistic, 877, 1058, 1060(n4)
- bank, 997
- binary, 877, 879, 1058–63, 1060(n4), 1094(n13), 1116(n40), 1149–1295, 1253(n1)
- cartels, 634, 636
- checked, 884
- classified, 877
- coercive, 879
- conflict and, 1061–65
- consequences, 878, 879(n3)
- cumulative, 1367–69
- defined, 877
- depression, 581, 984, 1000, 1005
- praxeology, 875(n1), 877
- public utility, 702
- triangular, 878, 892–907, 1059, 1060, 1060(n4), 1075–1147
- transportation, 952
- types of, lvii
- typology, lvii, 877–78, 942
- utility, 878–85
- violent, 875–1041; see also Economics, violent intervention in market
Invasion of property, 176–85, 182(n48)
Inventions, 540, 961
Inventories, 863(n71)
Investments
- Austrian School, 535
- booms, 1006(n113)
- capital, 209, 532–33, 719
- choosing, 216, 219
- consumption, 860, 861(fig. 82), 997
- decisions, 63
- decreased, 532
- determined, 539
- earnings, 441
- entrepreneurship, 210, 517–27, 547–49, 950
- government, 967
- growth, 963
- Indian, 970(n83)
- interest, 859–60
- joint, 426, 438(fig. 53)
- Keynesian system, 860
- labor efficiency, 719
- malinvestments, 180, 1002, 1027
- marginal value product, 477
- multiplier, 866
- net, 517–27
- opportunities, 63(n37)
- period, 543
- planned, 54
- processes, 538(n26)
- production, 329, 426, 517–27, 539, 547–49
- profit and loss, 514
- reasons, 225
- renting, 294
- stock companies, 426, 951(n65)
- saving, 436, 533, 547–49, 872, 916(fig. 86)
- spending, 210
- subsidized, 965, 1037
- technology, 542
- theory, 535
- time preference, 531, 539, 995
- uncertainty, 60, 552
- underdeveloped countries, 542, 914(n34), 966(n77), 970
- wealth, 657, 743, 940, 1041(n152)
- yield, 423
- see also Capital, goods; Entrepreneurship; Speculation
Invisible hand, 100, 100(n18), 876(n2)
Isolation, 339

Joint-stock company, 426–43, 438(fig. 53), 800, 951(n65)
Judgment. See Valuation; Value scale
Judiciary, independent, 1286
Jungle, the, 1324–26, 1324(n20), 1329
Jury service, compulsory, 878

Keynesian paradigm, lviii
Keynesian system
- acceleration principle, 868–74
- consumption function, 860–66
- critique of, lv(n44)
- economics, 1259
- employment, 582, 776, 778(fig. 78)
- expenditures, 776–85, 778(fig. 78), 780(fig. 79)
- fallacies, 859–68
- hoarding, 776–92
- income, social, 776–85, 778(fig. 78), 780(fig. 79), 859, 861(fig. 82)
- inflation, 784
- interest and investment, 789, 859, 861(fig. 82), 868
- liquidity preference, 785–92
- loan market, 371(n5), 792
- multiplier, 866–68
- theory, lvii
- unemployment, 776–85, 778(fig. 78), 780(fig. 79), 782(fig. 80)
Kidnapping, 742(n90)
Knowledge, technological, 527

Labor
- allocated, 221, 648
- backward supply curve, 573
- capital, 506(n36)
- cost of training, 577
- demanders of present goods, 406, 572(fig. 63), 573(fig. 64)
- direct, 605
- disrupted, 950
- divisible factors, 95–102, 597
- division of, 96
- efficiency, 719
- employment, 582, 605, 780(fig. 79)
- goals, 879(n4)
- goods, 43
- Hutt's views, 631
- land, 368, 407, 481, 506(n36), 557–88
- legislation, 897(n22)
- leisure, 42–47, 217, 344
- management, 565, 598, 601
- marginal utility, 44, 217
- mobility, 586(n24)
- money reserve, 757
- monopoly, 717–19
- nature, 564–66
- pricing, 704–16
- prison, 1154(n7)
- ownership, 333
- rent, 557–88
- rights, 714(n66)
- scarcity, 365, 559, 692
- services, 206, 405, 564, 605, 757
- specific and nonspecific, 522
- submarginal, 563
- supply, 572–78, 572(fig. 63), 573(fig. 64)
- unemployment. See Unemployment
- unions
  - arguments, 716–19
  - building, 1100(n21)
  - craft, 708
  - coercion, 897, 897(n22), 975
  - consequences, 714
  - economics, 713
  - efficiency and “Ricardo effect,” 718–19
  - indeterminacy zone, 716–17
  - industrial, 709
  - minimum wage, 897
  - praxeology, 712
  - pricing of labor, 704–16
  - private governments, 715
  - Ricardo effect, 718–19
  - strikebreaking, 712
  - unemployment, 709
  - voluntary, 897
  - wages, 704, 705(n58), 718, 790
  - work rules, 714
- value, 342(n14)
- see also Consumers; Producers; Production; Wages
Laissez faire, 1048–49, 1056, 1300, 1340–56
Land
- abundance, 366
- capitalization, 528–29, 530
- characteristics, 493
- costs, 342
- demand, 406, 568
- distribution, 618, 936(n50), 1204(n48)
- economic, 172, 485
- exchange, 169
- feudal, 1211–13, 1212(n56)
- first ownership, first user, 529
- Georgists, 171, 175, 570–72, 934–37, 936(n50), 937(n51), 1037
- geographic, 485
- goods
  - capital, 479–88, 495, 506(n36)
  - durable, 424(n24)
- grants, 405(n33)
- ground, 528, 935, 1037
- identified, 10
- income, 368, 528
- interest rate, 405(n24)
- labor, 368, 406, 481, 506(n36), 557–88
- marginal, 559, 694
- monopoly, 692
- owners, 170, 175, 333, 934–37, 936(n50)
- prices, 566, 569–70
- production, 169, 479–88, 557–88
- profits, 527
- raw, 169–75
- rent, 557–88
- resources, 485, 496, 570
- scarcity, 559, 692
- single tax, 937(n51)
- socialization, 935(n48)
- soil maintenance, 487
- speculation, 570–72, 1202(n46)
- submarginal, 563
- supply, 566–72
- tax, 934–37, 937(n51), 956(n68)
- urban, 486
- value, 171, 934–37, 1131(n65), 1199–1200
- zero-rent, 563
- see also Property
Law
- antitrust, 907
- common, 1051, 1345(n34), 1346
- compulsory attendance, 955
- copyright and patents, 745–54
- economic
  - antitrust, 907
  - association, 98
  - bankruptcy, 551(n38)
  - cause and effect, 592–93
  - comparative costs, 98
  - contract, 178(n45)
  - Gresham's, 899
  - licensing, 903
  - marginal utility, 21–33, 73, 125
  - negotiable instruments, 181
  - quantitative, 43(n27), 526, 549
  - returns, 33–38 , 468
- history, 972, 973(n87)
- Malthusian, 562
- morality, 178, 632, 636, 641
- natural, 173
- of equal freedom, 1220, 1311–12, 1312(n13), 1341–43, 1355
- rule of, 1220(n61)
Laws
- child labor, 1111–12, 1112(n36), 1113(n37)
- closing, 1115
- compulsory attendance, 1112, 1271(n14)
- conservation, 1089, 1122–33, 1122(n50), 1123(n51), 1124(n52), 1125(n55), 1126(n56), 1129(n62), 1132(n66)
- emigration, 1108(n32)
- immigration, 1107–10, 1109(n33), 1110(n34), 1146–47
- legal tender, 1083, 1083(n6)
- maximum hour, 1088–89, 1089(n10)
- minimum wage, 1114, 1114(n39)
Leasing, 1128
Lebensraum, 1146–47
Legal tender. See Laws, legal tender
Leisure
- coerced deprivation, 987(n102)
- consumer good, lvi, 1323
- defined, 46(n30)
- disutility, 44, 574(n14)
- encouraged, 915
- Hutt's views, 631
- increased, 50
- labor, 42–47, 217, 344, 897(n22)
- marginal utility, 46, 218, 574(n14), 1165
- money reserve, 757
- want satisfaction, 43
Liability, limited, 1144(n78)
Libertarian Law Code, 1053(n4)
Licensing, 878, 903, 1094–96, 1095(n14), 1097(n16), 1141–42, 1142(n75), 1258(n4)
Liquidity preference, 785–92, 791(n26)
Loans
- bank, 793
- government, 1025–28
- market, 371(n5), 376, 420–26, 435–43, 451(n44), 552
- see also Credit; Credit expansion
Location
- choice, 1034
- competitive, 675–76
- economics, and spatial relations, 617–22
- industry, 618
- monopoly, 698–702
- purchasing power of money, 818
- used, 570
Logic, 75
- deductive, liv
Log-rolling, 102
Long-run values, 359
Losses. See Profits and losses
Luck, 1333–34
Ludwig von Mises Institute, lix, lx
Lumpy factors, 1353
Luxury, 987

Macroeconomics, xxii, 269(n19)
Marginal utility and choice, xxi
Majority rule, 883, 1065–67, 1066(n9), 1067(n10)
- contradictions of, 1279–80
Maladjustment, 512(n1), 515, 1006(n113)
Malinvestments, 180, 1002, 1027–28
Malthusian controversy, 562
Management, 564, 598, 601–02; see also Business; Entrepreneurship; Government; Ownership
Marginal private costs, 950(n63)
Marginal productivity, 453–507, 506(n36)
Marginal social costs, 950(n63)
Marginal utility
- Austrian School, 356(n21)
- buying and selling, 117, 239, 254, 276
- choice, 30, 279
- costs, 264, 276–79
- determined, 260
- equalization, 302
- exchange, 10, 86
- goods, 976
- labor, 46, 218
- law, 21–33, 73, 125
- leisure, 46, 218, 574(n14)
- measured, 27–28, 260, 314
- money
  - cash balance, 203, 264, 759, 775, 805
  - consumer, 261–68
  - cost, 364, 276–79
  - diminishing, 218, 263, 301, 379
  - planning and range of choice, 30, 279–80
  - regression theory, 268–76
- product, 453–78, 461(fig. 56), 469(table 13), 472(fig. 59), 473(table 14), 500–04
- productivity, 578–80, 590, 1266(n10), 1347–56
- purchasing power, 263
- supply, 28, 260
- “total,” 314
- valuation, 30(fig. 4), 314, 453–78, 500–04
- want-satisfaction, 27
Market economy
- attacks on, 338, 623, 1008
- banks and banking, 803–04
- binary intervention, 877, 880
- calculation and implicit earnings, 606–09
- capital. See Capital
- cartels, 905
- coercion, 1024–25
- consumer, action, 280, 339(n12), 451(n44), 629; see also Consumers
- continuous, 281
- credit expansion, 429–30, 439
- debtors, 180
- defense of, 1047–56, 1067, 1100, 1251
- economics, 79–1041
- error reduced, 885
- exchange, 187
- government, utility ex ante and ex post, 885–91
- harmony, 881, 876(n2)
- influence, 645, 966
- interest rate, 539, 550–52, 792, 999
- intervention, 875–1041
- invasive and noninvasive acts, 93, 176
- investments. See investments
- Keynes’ critique, 780
- loan, 371(n5), 377, 420–25, 435–43, 451(n44), 551
- mercantilist view, 880
- money, lvi, lvii, 235, 267, 375
- monopoly. See Monopoly
- natural, 551(n38)
- ownership. See Ownership
- penalties on, 1115–16
- poverty, 943, 943(n58), 975
- prices
  - analyzed, 491, 611, 687
  - changes, 142–52, 288(table 10), 521
  - competitive, 635, 704
  - determined, 106–26, 131, 224, 238, 291
  - durable goods and services, 16, 288
  - equilibrium, 143(n29), 246, 783, 903
  - formation, 689(fig. 68)
  - money, 235, 261–80, 311–15
- “present,” 292(n31)
- principle, 1365–69
- protection, 1047–56, 1067, 1100, 1251
- production. See Production
- purchasing power, 237
- purely free market, 1250(n87)
- purposes, 99, 609
- reactions, 999
- regional problems, 777(n12)
- research, 980
- savings. See Savings
- social utility, 879, 882, 891
- sovereignty, 629
- speculation, 157
- spending. See Spending
- stabilizing plans, 847
- static, 726(n74)
- stock companies, 426, 951(n65)
- summary, 624–27
- taxation, 912
- testing, 114
- trade, 959(n72)
- unemployment, 582, 783
- unhampered, 79–1041
- wages, 782(fig. 80), 783(fig. 81)
- see also Business; Capitalism; Choosing; Curves; Demands; Entrepreneurship; Schedules
Markets, artificial, 1321(n16)
Marriage contracts, 164(n35)
Marshallian tax views, 910
Marxism, 415, 765(n6), 1062
Material, and economic, 12, 162
Materialism, 1321–24
Mathematics
- assumptions, 324(n1)
- Austrian, 627(n70)
- econometrics, 325(n2)
- equations, 323, 324, 616(n62), 831, 834(n54), 836
- functions, 306, 323, 326, 867
- equilibrium, 325(n2)
- gambling, 555
- human action, 326, 327(n5)
- in economics, 75, 306, 323, 324, 325(n2), 326(n3), 327(n4, n5), 470(n7), 785, 866
- indifference, 307
- liquidity preference, 785
- logic, 75
- logistics, 75
- marginal product, 37(table 1), 475–78, 500–04
- multiplier, 866–68
- numbers, 845
- praxeology, 75, 217
- probability theory, 60(n36), 553
- use, 313, 326(n3), 327(n5), 470(n7)
- value scales, 19
- variables, 845(n59)
Means and ends
- action, 8–13, 17–21, 658(n18)
- behaviorism, 3, 482
- choosing, 1, 5, 1298(n1)
- distinction, 76
- individual, 8, 17, 658(n18)
- labor and leisure, 43, 658(n18)
- political and economic, 879(n4), 1306(n7)
- supply, quantity, 26(fig. 3)
- values, 17–21
- want-satisfaction, 879(n4)
Measurement
- buying and selling, 117
- impossibility, 18
- index-number methods, 845
- prices, 130(n27)
- purchasing power of money, 843–51
- quantitative, 526, 1163(n16)
- surpluses, 258
- utility, 27, 258, 313
- see also Mathematics
Medicine, 743, 744(n92)
Mercantilism, 880
Mergers, cartels and corporations, 643–44
Metaphors in economics, 970, 1001, 970(n81, n82)
Microeconomics, xxii, 269(n19)
Middle Ages, 1315–17
Migration. See Location
Minimum wage. See Laws, minimum wage
Minorities, 1280(n20)
Mint, monopoly of, 1082(n4), 1270
Misesian paradigm, lix
Model-building, 1358(n3)
Monetary unit, 196–98, 237, 312, 620
Money
- accounts, 198, 202, 863
- acquiring, 200, 209
- allocated, 219
- balance of payments, 198, 205, 210, 822–26, 825(table 16), 1011(n119)
- bills of exchange, 827–28
- bimetallism, 828, 899
- British Currency School, 1012
- buying and selling, 758
- cash holdings, 203, 850
- certificates, 803
- changes, 415, 762–64, 811–15
- checks, 804
- circularity, 268, 454, 535(n21), 760
- claims, 800-04
- clearing system, 771, 821–26
- co-existing, 828–31
- coining, 197(n7), 799, 800(n29)
- commodity, 192, 204, 764, 798–800, 851
- concept, 192
- consumer, 198, 201, 261, 298
- costs, 276, 353–62, 588, 674(n39)
- credit. See Credit; Credit expansion debts, 177, 178(n45), 439(n36), 440, 1028
- deflation, 917(n35), 1006
- demand, 650(n10), 756–62, 763(fig. 75), 767–98, 770(fig. 77), 816
- dollar origin, 197(n7)
- economy, 195, 233, 268, 281
- emergence, 189–95
- exchange
  - bills, 827
  - demand, 756, 816
  - equation, fallacy, 831–42
  - opposition, 233
  - rates, co-existing, 828–33
  - value, 758, 761(fig. 74)
- expenditures. See Spending
- exports and imports, 202
- fiat, 1014, 1018(n127)
- gold. See Gold
- goods, attributes, 826–31
- Gresham's Law, 899
- holding, 276(n22)
- idle, 760, 767, 804(n30)
- income, 198–206, 210, 224
- inflation. See Inflation
- Keynesian system, 860
- labor demand, 757
- labor services, 206, 406
- marginal utility
  - cash balance, 203, 264, 759, 760-61
  - concept, 574(n14)
  - consumer, 261–68
  - costs, 264, 276–79
  - diminishing, 218, 263, 301, 379
  - planning and range of choice, 279–80
  - regression theory, 268–76
- market, 235, 267, 375, 767–68
- Marshall, costs, and prices, 353–62
- Marshallian theory of quasi rents, 558
- measure of values, 851
- merging of assets, 426, 696; see also Joint-stock company
- nature, 851
- neutral, 773, 818
- nonproductive, 765
- numéraire, 851
- obtaining, 376
- 100-percent reserve, 804, 807, 810-11, 831(n47), 1007(n114)
- ownership, 194
- parallel standards, 831(n47)
- prices
  - calculated, 233
  - circularity, 268
  - common denominator, 235
  - concept, 233–38
  - consumers’ goods, 261, 280–88
  - costs, and A. Marshall, 353–62
  - determined, 224, 238–49
  - economic analysis, 269(n19)
  - goods side and money side, 815–18
  - marginal utility, 261–80, 311–15
- profits, 293, 811
- progressing economy, 560–61, 771, 817
- purchasing power. See Purchasing power of money
- quantitative, 849(n62)
- quasi, 827
- ranked, 261
- real, 917(n35)
- receipts, 803, 804(n31), 808
- regression, 268–76, 274(fig. 38), 1021
- relation, 526(n11), 756–64, 811–15
- reservation, 757
- silver, 828, 899
- speculative demand, 768–71
- stabilization, 843–51
- standard, 805
- stock
  - individual, 204, 410–16, 412(fig. 48), 413(fig. 49), 763(fig. 76)
  - time preference, 410–16, 774
  - total, 763(fig. 76), 834
  - utility, 263, 764–67
- subjective value, 764
- substitutes, 805–09, 1009
- supply, 650(n10), 756–62, 798–811
- token coins, 804
- turnover, 532(n15)
- use, 264, 386(n11)
- wages, 531, 782(fig. 80)
- warehouse, 800-04
- see also Banks and banking; Capital; Exchange
Monopoly and competition, 1143–44
- antitrust laws, 907, 1117–21
- bilateral, 636(n4), 726
- cartels, 636–61, 907
- Chamberlin and selling costs, 736–38, 736(n84), 737(n86)
- charging what the traffic will bear, 663
- competition, 629–754, 732(fig. 71)
- consequences of shift, 732(fig. 71)
- consumer sovereignty, 629–36
- copyrights, 673(n38), 745–54, 746(n93), 748(n96, n97)
- corporations, 643–53
- cost, 734(fig. 72), 735
- countervailing power, 736(n83)
- creation, 670(n33)
- cutthroat, 681–87, 684(n48)
- defined, 661–71, 661(n22), 667(n29), 669(n30), 670(n32)
- domestic, 906(n27)
- England, 669
- environment, 675–76
- equilibrium, 727(fig. 70), 735(fig. 73)
- excess capacity, 726–36
- free competition, 653–58
- gain, 677–80, 691, 906
- grants, 903, 906, 1089–1147
- Hutt's views, 631–36
- illegal, 661(n22)
- imperfect, 720–38
- individual sovereignty, 629–30
- instability, 651–53
- labor, 704–19
- land, 692
- licenses, 903
- location, 698–702
- medicine, 744(n92)
- mergers, 643–44
- monopolistic competition, 664(n26), 720–38
- monopoly, 629–754, 1299
- monopsony and oligopoly, 717–18
- natural, 701–04, 703(n56)
- neoclassical theory, 672–75, 673(fig. 67)
- oil, 684(n48), 686(n51)
- patents, 745–54, 746(n95), 748(n96, n97), 753(n101)
- prices, lvii, 1090, 1130(n64), 1299
  - cartels, 636–43, 907
  - consequences, 672–87
  - defined, 671, 687–88, 690
  - illusion, 661–704
  - imperfect, 720–38
  - labor unions, 704–16
  - multiform, 739–45
  - neoclassical theory, 672–75
  - problem of one big company, 659–61
  - restrictionist, 706
  - size of firm, 645–51, 658
  - technology, 645–51
  - world, 680–81
- privileges, 906(n27), 907(n28), 1143(n76)
- profit and gain, 677–80, 1090
- quasi, 903, 906
- refutation of, 1090(n11)
- scarcity, 692
- size, 645–51, 658–61
- technology, 645–51
- unhampered market, 687–98
- wages, 705, 705(n58)
Monopsony and oligopsony, 717–18
Montaigne fallacy, 880
Morality, 177, 632, 636, 641
- and choice, 1102(n20), 1303–06
- and human nature, 1306–08
Motivation, 1, 100, 324, 666(n27)
Multiplier, 866–68
Murder, 79, 81, 94, 877

National defense, 1031
“National income,” 397, 397(n15), 401, 401(n19), 777(n12), 988(n104)
National product statistics, 1292–95
Natural liberty, 1341–44
Natural resources
- conservation, 907(n28), 1037
- depletion, 496–500
- distribution, 618, 937(n51)
- land, 10(n11)
- views, 9, 171, 174(n42), 485
- waste, 499, 499(n32), 500(n33)
Navigation, private, 984(n99)
Nazi system, 959
Negotiable instruments, 181
Neighborhood effects, 1292(n29)
Neoclassical
- synthesis, xxi–xxii
- theory of monopoly price, 425, 582, 672–75, 673(fig. 67)
New York City taxicab industry, 906
New York University, lx
Noise, 182(n48)

Oligopoly, 722
Oligopsony and monopsony, 717–18, 1103(n26)
- 100-percent reserve, 810-11, 831(n47), 1002, 1007(n114)
Organized crime, 1087(n8)
Ownership
- agreements, 164(n34, n35)
- air, 92
- air lanes, 174(n41)
- airwaves, 173, 173(n40)
- appropriated, 169
- capitalist, 333, 345–48
- children, 93(n12)
- control, 659(n19)
- evidences, 165
- fraud, 183, 802, 1009(n117)
- freedom, 176
- function, 602
- Georgists, 171, 175
- goods, 93, 332
- government, 953, 955, 1029
- group, 433
- invasion, 176
- joint, 333–40, 426, 433
- labor, 333
- land, 170, 175, 333
- money, 194
- product, 333–40, 345–48, 337(n10)
- public, 955–57
- rights, 670, 745, 934(n47), 955
- rules, 800
- self, 92, 185, 164(n35)
- stock company, 427, 438(fig. 53), 951(n65), 800–01
- terms, 92
- water, 173, 174(n42)

Parallel standards, 831(n47)
Partnerships, 430; see also Joint-stock companies
Past, influence, 65
Patents and copyrights, 745–54, 746(n95), 748(n96, n97), 753(n101), 1133–38, 1133(n68, n69)
Peasants, medieval, 1315(n14)
Peddlers, outlawing, 907, 1315(n14)
Permanence, 402(n20), 483, 484(n15, n16), 485(n19)
Physical science model, liv
Physics, 323, 326, 845
Planning, 11, 279–80, 958–61, 1153(n6);
- see also Government; Prohibition
Point Four, 542(n31)
Politics, 886, 1058, 1058(n2), 1254 ff.
Poor relief, 942, 943(n58), 1257–58
Population, 561, 562(n7), 860(n70), 1109–10, 1316
Positivism, xl–1
Post offices, 951, 951(n64, n65), 955, 956(n67), 1265(n8), 1270
Poverty, 942, 943(n58), 975, 1316–21, 1321(n17)
Power, 1326–33
- over man, 1329–33
- over nature, 1329–33
Praxeology
- action, lix, 72–77, 877, 1025
- aesthetics, 74
- application of, xxxviii–l
- Austrian economics and, xxxii–xxxiv, liv, lv
- basis, 1–2, 307
- choosing, 306, 481
- defined, 299
- economics, 72–77
- ethics, 72, 74, 1297–1356
- function, 1025
- history, xxiii, 74
- intervention, 875(n1), 877
- mathematics, 75, 785
- philosophy, 73
- prediction, 64, 159, 293, 296
- principle, 99, 569(n12)
- psychology, 73, 74
- purchasing power, 849(n62)
- quantitative laws, 549
- technology, 74
- unions, 712
- utilities, 882(n8)
- vs. positivism, xl–1
- see also Human action
Predictability, 1336
Preferences
- consumer, 207, 255, 514, 666(n28)
- demonstrated, 744, 882, 1093(n12)
- liquidity, 785–92
- scale, 6, 17
- time. See Time preference
- see also Buying and selling; Choosing; Valuation
Prices
- analyzed, 491
- bargaining, 362–66 , 456(n3)
- basing-point system, 621(n67)
- booms, 937, 1002, 1018
- buying and selling, 104, 106, 109(n23), 113, 127(table 3), 235, 739
- changes, 142–52, 288(table 10), 522
- competitive, 635, 681, 704, 903
- consumption, 16, 233–317
- control, 658(n17), 664(n26), 892–900, 893(fig. 83), 895(fig. 84), 1075–86, 1362(n8), 1365
- costs, xxxvi–xxxviii, 276–79, 356, 353–62, 588
- demand, 23, 114, 127, 139, 249–57
- determination, xxii, 106–26, 224, 238–57, 291, 663, 704(n57), 734(fig. 72), 815–18
- differential, 423, 996
- discrimination, 738, 742(n90), 745
- effects, 282
- equality, 695
- equilibrium. See Equilibrium, prices
- evenly rotating economy, 354, 453, 492
- exchange, 107, 142–53, 257
- factor, 353–66, 453–507, 557–627
- falling, 526, 790, 790(n25), 791(n26), 796
- final, 108, 134(fig. 21), 321, 325(n2), 879(n4)
- formation, 689(fig. 68)
- gains of exchange, 257–61
- gold, 273
- goods, 16, 142, 280–98, 288(table 10), 522
- government and marginal costs, 950
- inflationary, 1021
- interest rate, 371, 735(fig. 73)
- interrelations, 280–88
- labor, 704–16
- land, 566
- level, 238(n2), 269(n19), 358(n23), 775, 832
- location, 818
- marginal utility, 235, 261–80, 311–15
- market. See Market economy
- Marshall's views, 353–62
- maximum and minimum, 104, 893(fig. 83), 896(fig. 85)
- measured, 130(n27)
- money. See Money, prices
- monopoly. See Monopoly
- movement, 812
- multiform, 739–45
- planning and range of choice, 279–80
- present, 292(n31)
- production. See Production
- real, 525
- rent, 292, 488
- restrictionist, 704, 907(n28), 1096, 1107–12, 1130
- rising, 790(n25), 795
- services, 16, 288–98, 362, 590, 950, 790(n24)
- socialistic, 967
- supply and demand, 23, 114–15, 127, 138, 249–57
- theory, xx, xxiii, 611
- trade, 959(n72)
- utility, 276–79, 302–11, 611
- value, 236, 316
- welfare comparisons and consumer satisfaction, 298–302
- see also Wages
Priorities and allocations, 1088
Privileges, 906(n27), 907(n28)
Probability, 60(n36), 553
Producers
- capitalists, 392, 396, 406
- co-operatives, 433, 608, 608(n54)
- defined, 646(n8)
- exchange, 88
- goods, 225, 421
- loan market, 420–26, 435–43
- money acquired, 201
- prices and income, 509
- savings, 421
- spending, 206–12, 938
- stock of class (A), 156(fig. 29)
- valuation, 316–17, 569(n12)
Product
- average and marginal, 37(table 1), 468–75, 469(table 13), 472(fig. 59), 473(table 14)
- capitalist, 345–48
- control, 900–07
- demand, 95, 504
- definition (Rolph's), 504
- differentiation, 666(n28)
- marginal physical, 466–75, 469(table 13), 472(fig. 59), 473(table 14), 500–04
- marginal value, 453–78, 461(fig. 56), 466(fig. 57), 500–04
- ownership, 333–40, 337(n10), 345–48
- physical, 468–75
- priced. See Prices
- prohibition, 901
- value determined, 648
- see also Goods
Production
- action principle, xxxix, 319–20, 332
- aggregate, 394
- Austrian theory, xxvi–xxviii, 627(n70)
- average physical product, 468–75, 472(fig. 59)
- bargaining, 362–66
- beneficiaries, 547–49
- booms, 1018
- capital, 47, 479–88, 527–43
- capitalism, xxxv–xxxvi, 345–48, 410–16
- centers, 507
- changing economy, 509–55
- choosing, 483
- classes, 10
- consumers, xxxv, 605–06
- convertibility, 38, 65
- cost, xxxvi–xxxviii, 340–45, 353–62, 588–600, 596, 618(n64)
- decisions, 687–88
- defined, 9
- demand, income, 416–20
- direction, 517
- discounting, 453–78, 504–07
- distribution fallacy, 622–24
- divisibility, 593
- effects, 142
- efficiencies, 597
- entrepreneurship and change, 509–55
- evenly rotating economy, 320–29, 513
- excess capacity, 726
- exchange, 88, 630(n2)
- expenditures, 206, 939
- factors
  - concept, 9, 33–47, 593–94
  - evenly rotating economy, 513
  - income, 335(fig. 40), 369(fig. 41)
  - indivisible, 593
  - nonspecific, xxxix–xl
  - original, lvii
  - ownership, 333–40, 337(n10), 345–48
  - pricing
    - general, 453–507
    - particular, 557–627
  - produced, lvii
  - specific, xxxvi–xxix, 329–33, 331(fig. 39)
  - world of purely specific, xxxvi, xxxvi(n37), xxxviii, xxxix
- future, 48
- general pricing of factors, 453–88
- gold, 776(n10)
- goods, 348–53, 391, 479–88, 630(n2)
- government, 939, 967
- Hayek's views, 517
- income
  - business, 601–05
  - demand, 416–20
  - earning process, 352
  - entrepreneurship, 588–616
  - factor, 335(fig. 40), 369(fig. 41)
  - productive, 557–627
  - source, 478–79
- increased, 42, 596
- innovation, 546–47
- insurance, 552–55
- interest rate, 367–451, 549–52
- introduction, 557
- inventions, 540, 961
- investments, 328, 426–27, 517–27, 539, 547–49
- joint-stock companies, 426–43
- labor, xxxv–xxxvii, 9, 42–47, 557–88
- land, xxxv, 170, 479–88, 557–88
- law of returns, 33–38, 468
- limited, 947
- loan market, 420–26, 435–43
- location and spatial relations, 617–22
- marginal physical product, 468–75, 472(fig. 59), 500–04
- marginal productivity, 578–80, 590
- marginal value product, 453–78, 461(fig. 56), 469(table 13), 504–07
- market, calculation and earnings, 606–09, 624
- Marshall's views, 353–62
- money, 353–62, 410–16
- natural resources, 496–500, 497(table 15)
- original, lvii
- ownership, 333–40, 345–48, 337(n10)
- particular factor prices and productive income, 557–627
- period, 9, 14, 51, 68, 483, 591(n32)
- permanence, 402(n20)
- phase, 646–47
- pricing
  - general, 353–66, 453–507
  - particular, 557–627
- process, 208(fig. 32), 539, 543, 959
- profit and loss, 509–16, 527–36, 650
- progressing economy, 549–50
- purchasing goods, 199, 237
- purpose, 649–50
- raw materials, 618(n64)
- rent, 488–95, 557–88
- restricted. See Monopoly
- risk, 552–55
- Rolph's discount theory, 504–07
- saving, 547–49, 788
- schedules, 390–410
- Schumpeter's views, 450
- services, 333(n8), 590, 605
- size of firm, 609, 645
- Soviet, 966
- specific, 329–33, 331(fig. 39)
- specialization, 95, 133, 153–61
- stages of, 102, 208(fig. 32), 407(fig. 46), 520
- structure, 8–9, 319–66, 524–43
- taxation, 914
- techniques, 544–47
- technology, 540, 647
- time market, 8–9, 42, 375–416, 443–50
- uncertainty, 552–55
- use, 649
- valuation, 34, 38–42
- value scales, 379–89
- vertical integration, 394, 609–16
- war, 927
Productivity, marginal, 453–507, 506(n36)
Profits and losses
- altruist view, 1323(n19)
- buying and selling, 289
- capital gains, 1174–80
- capital values in changing economy, 527–36, 1175(n26)
- competitive, 676, 684(n47)
- entrepreneurial, 509–16, 527–36, 682, 885, 895
- evenly rotating economy, government, 68, 948
- investments, 516
- land, 528
- large-scale, 795
- monetary, 293, 811–15
- monopoly, vs. monopoly gain to a factor, 677–80
- motive, 590, 948
- production. See Production
- progressing economy, 532, 535
- psychic, 277
- retrogressing economy, 532, 532(n16), 536
- social function, 514
Progressing economy
- defined, 532(n16), 561(n5)
- effects, 526
- money, 560–61, 771, 817
- profits, 532, 536
- pure rate of interest, 348, 371–72, 375, 790
Prohibition, 901, 902(n24), 960, 1086–89
Propaganda, 982
Property
- acquired, 92, 183
- air pollution, 182
- appropriation, 169–76
- exchange, 91, 169
- frauds, 183, 803, 1009(n117)
- inalienable, 164
- intangible, 165
- invasion, 176–85
- physical, 183
- smoke, 182
- rights, lvi, 432(n29), 934(n47), 1047–48, 1127(n59), 1140(n72), 1161(n15), 1337–40, 1347 ff.
- see also Government; investments; Land; Ownership
Proportional representation, 1283–84
Protective tariff, 903, 906
Provision, period, 17, 68
Psychology, 73, 74, 308
Public
- finance, 908, 1030
- interest, 1345(n34)
- opinion, 1065(n7)
- ownership, 955, 1276–79
- utilities, 1138–39, 1139(n71)
- utility, 516(n3), 702, 703(n56)
- works, 1041(n152)
Purchasing power of money (PPM), 1332
- acceleration principle, 868–74
- balance of payments, 822–26, 825(table 16)
- bills of exchange, 827–28
- business
  - cycles, 854–59
  - fluctuations, 851–54
- changes, money relation, 762–64
- commodity, 238, 798–800
- consumption function, 860–66, 861(fig. 82)
- decline, 768
- demand, 756–98
- employment, 780(fig. 79), 783(fig. 81)
- equality, 620
- equation of exchange, 831–42
- evenly rotating economy, 767–68
- exchange, 818–22, 828–42
- gains and losses, 811–15
- geographic uniformity, 818–21
- goods
  - concepts, 199, 237
  - monetary attributes, 826–31
- hoarding, 776–92, 780(fig. 79)
- interest rate, 773–76, 792–98, 859–60
- introduction, 755
- investment and interest, 859–60
- Keynesian system, 776–92, 780(fig. 79), 859–68, 861(fig. 82)
- liquidity preference, 785–92
- marginal utility, 263
- market, 237, 767–68, 782(fig. 80), 783(fig. 81)
- measuring, 843–47
- Mises’ view, 269(n18)
- 100-percent reserve, 810–11
- parity, 829
- praxeology, 849(n62)
- “price level,” 238(n2)
- prices, determination: goods side and money side, 815–18
- quasi, 826–28
- ranking, 303
- relations, 756–67, 811–15
- Schumpeter's business cycles, 854–59
- secular demand, 771–72
- social income, 776–85, 778(fig. 78), 780(fig. 79), 861(fig. 82)
- speculative demand, 768–71
- spending, 776–85, 778(fig. 78), 780(fig. 79)
- stabilization, 847–51
- stock, 756–67, 798–800
- substitutes, 805–09
- tax, 937, 1023
Purchasing power of money, lv
- terms-of-trade, 792–98
- unemployment, 782(fig. 80), 783(fig. 81)
- utility of stock of money, 764–67
- wages, 782(fig. 80), 783(fig. 81)
- warehouses, 800–04

Quality
- defined, 565(n10)
- standards, 1096–1101, 1097(n17), 1098(n18)
Quantitative economics, 43(n27), 526, 549, 849(n62); see also Measurement

Railroads, 545(n33), 594
- grants, 1131–32
Rationalism, 310, 666(n27)
Rationing, 902, 1087–88, 1088(n9)
Realism, 1361(n7)
Reasoning, 1, 74–75, 228–29, 454
Redistribution, 988(n103)
Regression, money, 268–76, 273(n20, 21), 276(n22), 1021
Religious observance, 878
Rent
- capitalization, 488–95
- concept, 560(n3)
- contracts, 295
- decision-making, 602
- defined, 290, 490(n24)
- demand, 294
- durable goods, 289
- evenly rotating economy, 558
- gross, 558
- investment, 294
- labor and land, 557–88, 692
- Marshallian theory, 558
- net, 558
- prices, 292, 488
- quasi, 559
- services, 290, 525
- time preference, 296
- wages, 559
- zero, 559
Report requirements, 1115
Representation, 1281 ff.
Republics, 1066(n8), 1286(n25)
Research, 750, 974(n91), 980
Resources
- administered, 280(n26)
- allocating, 213–31
- classified, 497(table 15)
- depletable, 484(n15), 496–500, 694(n54), 1124(n54)
- economic, 172, 173(n42), 485
- exchangeable, 223
- idle, 692, 702
- industrial, 909
- land, 485, 496, 570
- natural, 171, 174(n42), 485, 496–500, 497(table 15)
- readjust, 909
- replaced, 497
- tastes and techniques, 562(n8)
- using, 938, 944–46
- variety, lvi
- wasted, 500(n33)
- see also Capital
Restrictions, 704–16, 907, 907(n28); seealso Government
Retrogressing economy, 532, 532(n16), 536
Returns, 33–38, 320, 350, 467(n6), 468; see also Interest; Spending
Revenue
- government, 913, 938(n52)
- marginal, 467(n6)
- psychic, 104, 135, 160, 210, 255
- tax, 913
Review of Austrian Economics, lix
Revolt, 81
Ricardo effect, 718–19, 719(n70)
Risks, 548, 550–55, 682, 886
Roads, private, 984(n99)
Robbery, 499
Rotating economy. See Evenly rotating economy
Russia, 959, 959(n72), 966, 971(n84)

Sacrifice
- equal, 1232–33, 1234
- minimum, 1232–36
- principle, 1231–36, 1232(n76), 1233(n77), 1234(n78), 1235(n79), 1248(n85)
Safety codes, 1099–1101, 1100(n21)
Satisfaction. see Want-satisfaction
Savings
- aggregate, 517
- capitalists, 69, 346
- compulsory, 966
- consumption, 400, 413(fig. 49), 788
- determined, 539
- exceeded, 420
- government effects, 68, 1026
- gross, 397, 421
- growth, 963
- independent, 55(n33)
- investments, 436, 533, 547–49, 872, 916(fig. 86)
- money, 413(fig. 49)
- net, 397, 519(fig. 60)
- penalized, 918
- plain, 69
- planned, 54
- production, 421, 547, 788
- rate of return, 350
- stock company, 426, 435
- time preference, 410, 518, 531, 539, 916
- uncertainty and, 1313
Scales. See Value scales
Scarcity
- allocating, 330, 986
- consumer, 12, 34, 330
- production factors, 34, 638, 639(n6)
- labor and land, 559, 692
Schedules
- demand
  - changes, 144(fig. 24), 146(table 5)
  - defined, 121
  - determination, 249–57
  - equilibrium point, 116(n25),
  - formation, 155, 240(table 6), 242(table 7), 281, 928
  - increase, 153(fig. 28)
  - market, 242(table 8), 243(fig. 33), 281, 952
- production, 391(fig. 45)
- speculation, 130–37
- supply
  - changes, 144(fig. 24), 146(table 5)
  - defined, 121
  - determination, 249–57
  - effect of increase, 150(fig. 27)
  - equilibrium point, 102(n20)
  - formation, 154
  - market, 241, 243(fig. 33), 246(table 9)
- speculation, 130–37
- time preference
  - compared, 385(fig. 42)
  - individual, and money stock, 412(fig. 48)
Schools, governmental, 945, 948, 954, 986
Science, 357
Securities and Exchange Commission, 1099, 1099(n20), 1346
Security, 1313–15
Self-interest, knowledge of, 1300–02
Selfishness, 1321–24
Selling. See Buying and selling
Services
- capitalists, 348
- consumer, 12, 54, 605–06
- duration, 16, 290, 482
- exchangeable, 162
- free, 944
- government, 944, 950, 951(n65), 984
- importance, 68
- labor, 206, 405, 564, 606, 757
- market. See Market economy
- movement, 610(fig. 65)
- personal, 255, 605–06
- priced, 16, 288–98, 362, 590, 790(n24)
- production and consumption, 333(n8), 590
- rent, 525
- time preference, 289(n30)
- unit, 557
- see also Labor
Shareholders, 431, 439
Sherman Antitrust Act, 661(n22)
Shifting and incidence, tax, 927–34
Short-run values, 358
Silver, 828, 828(n46), 899
Sin of affluence, Galbraith, 973–88
Single tax, 935, 935(n48), 937(n51), 956(n68)
Slavery, 81, 94, 878, 987(n102)
Small business costs, 1116(n40)
Smoke, 182
Social
- benefits, 1272(n15)
- costs, 1272(n15), 1361
- Darwinism, 1324–26
- Democrats, 1280(n20)
- “engineering,” 960
- power, 1331
- utility, 878, 883, 891
Social security, 957, 1271
Socialism, 1272–76, 1366–67
- cartel, 659
- central planning, 958–61
- democracy and, 1281(n22)
- economic calculation, 614, 614(n59), 615(n60), 616(n61, n62), 875
- Fascist, 959
- in Hazlitt, 1088(n9)
- land, 935(n48)
- Nazi, 959
- prices, 967
Soviet Russia, Society
- benefits, 923
- contractual, 84–94, 99
- co-operative, 99
- exchange, 79–84
- free, 339; see also Market economy
- group relations, 2, 433
- individuals, 950(n63)
- primitive vs. market, 188
- reality, 84
- State and, 1354
- status of, 1315–18, 1315(n14)
- see also Economics; Human action
Soil, 487
Sovereignty
- concept, 339(n12), 629–36
- Hutt's views, 631–36, 652, 631(n3)
- see also Consumers; Market economy
Soviet Russia, 958(n70), 959, 959(n71, n72), 960(n73), 961(n74), 969(n80), 971(n84), 1275
Spatial relations, 617–22
Specialization, 95, 102, 132–33, 153–61, 156(fig. 29)
Speculation
- basis, 7
- buying and selling, 131
- demand, 130–37, 251, 768–71, 770(fig. 77)
- equilibrium, 250
- land, 570
- market, 157
- necessary, 510
- risks, 548, 550–55, 682, 885
- schedules, 131–35, 249
- self-correcting, 251
- supply and demand, 130–37, 251, 767–68, 770(fig. 77), 789–90
- see also Business; Investments; Profits and losses
Spending
- allocated, 220, 948
- binary intervention, 938–61
- consumer, maintained, 403
- income, 198, 368, 396, 776–85, 778(fig. 78), 780(fig. 79), 823
- indirect exchange, 198–213
- investments, 210
- Keynes’ views, 776–85
- money, 198–206, 298
- present and future, 392, 403
- producer, 206–12, 938
- public, 938, 1041(n152)
- research, 750
- social, 863
- subsidy, 912–13, 926, 938
- unemployment, 776–85
- waste, 941
- see also Taxation
Stabilization, 847–51, 865(n75)
Standard Oil myth, 686(n51)
Starvation, 654
State
- human nature and the, 1335–37
- power, 1332
- relation, 2–3, 939(n53)
- see also Government
State of rest, 143(n29)
Stationary economy, 533, 627
Stock
- companies, 426–43, 438(fig. 53), 801
- increase, effect, 150(fig. 26)
- market, 1276(n17)
- money, 204, 410–16, 412(fig. 48), 413(fig. 49), 762–64, 763(fig. 76)
- specialization and production, 153–61
- speculation, 130–37
- supply and demand, 130–42
- total demand to hold, 137–42, 139(fig. 23)
- withheld, 137, 139
- see also Goods
Subsidies, 1094(n13), 1155(n9)
- investment, 965, 1039
- poverty, 943
- spending, 912, 926, 938
- transfer payments, 942–44, 1254–58
- use, 926, 951
- voluntary, 1040
Subway, 952, 952(n66), 1267(n11)
Supply
- curves. See curves
- elasticity, 128
- equilibrium, 139
- labor and land, 566–78, 572(fig. 63), 573(n64)
- money, 798–811
- present goods, 395, 422
- prices, 23, 115, 127, 139, 249–57
- quantity, 26(fig. 3), 115(table 2)
- schedules. See Schedules
- speculation, 130–37
- units, 86
- utility, 26, 260
- variation, 466(fig. 57)
- see also Demand
Supreme Court, 1050
Surplus, 258, 261
Switzerland, banks, 810(n35)

Tabular standard, 848
Taft-Hartley Act, 897(n22)
Tariff, 826, 903, 906, 906(n27), 1101–07, 1102(n25), 1103(n26, n27), 1104(n28), 1129(n62), 1146
Tastes, 562(n8)
Tax
- evasion, 1218, 1249(n86)
- exemption, 1219
- illusion, 1196
- the just, 1214–16
- loopholes, 1220
- single, 1196–1214, 1207(n50, n51), 1208(n52)
Taxation, 1048, 1054–56, 1150(n2), 1151–1252
- ability to pay and, 1224–31, 1225(n66), 1235(n79)
- analysis, 910
- Austrian approach, 910
- barter, 914(n34)
- benefit principle, 908, 923, 932–33, 1225(n66), 1235(n79), 1236–38, 1242(n81), 1248(n85)
- binary intervention, 881(n6), 914–37
- business, 928–29, 930
- Chicago School, 912
- collection, 1034(n147)
- community, 881(n6)
- compulsory, 939(n54), 947, 1032
- consumption, 933
- cost principle, 922
- costs of collection, 1216–18, 1242(n81)
- development retarded, 914(n34)
- economic effects, 908, 914
- equal, 919
- excess purchasing power and, 1079(n2)
- free market, 912
- incidence; see also Taxation, shifting
- income, 914–19, 916(fig. 86), 920, 934
- industry, 927–30
- inflation, 1019
- justice and, 1216
- kind, 914(n34)
- land, 934–38
- Marshallian views, 912
- neutral, 908, 919–27, 1154, 1216, 1236, 1244–45
- payers and consumers, 908
- payment, 927
- production and consumption, 914
- progressive, 925, 1170(n23), 1183(n34), 1191–1194
- purchasing excess, 937, 1023
- revenue, 913, 938(n52), 1244
- sacrifice and, 1231–36, 1232(n76), 1233(n77), 1234(n78), 1235(n79), 1248(n85)
- sales, 930–34, 931(n45), 1256–62, 1157(n11), 1161(n15)m 1183(n34)
- shifting and incidence, 930–34, 1156–64
- single, 935, 937(n51), 956(n68)
- social security, 957
- spending, 909
- voluntary, 1246(n82), 1249(n86), 1250–52
- wages, 928, 1171
- Walrasian views, 910
- wartime, 926
Taxes
- burdens and bounties, 880, 907, 932, 1197(n42)
- capital, accumulated, 1183–91, 1178(n27, n29)
- capital gains, 1174–83
- chain store, 1115
- consumption, 1161–62, 1169(n22), 1170(n23), 1172(n24), 1180–83
- corporate, 1115, 1159, 1171–73
- cost of collection, 1216–18
- equal, 1230, 1240–44
- excess profits, 1173
- excise, 1157(n10, n11), 1161(n15), 1162–64
- fictitious, 1151(n3)
- gift, 1185
- income, 1161, 1161(n15), 1164–83, 1174(n25), 1183–91, 1221–24
- inheritance, 1185
- licenses, 1093
- poll, 1247(n83)
- property, 1185–90, 1187(n36)1157(11), 1161(n15), 1183(n34)
- sales, 1156–62, 1157(n11), 1161(n15), 1183(n34)
- savings, 1170(n23)
- uniform, 1218–24, 1174(n25), 1178(n29)
- on wealth, 1190–91
- withholding, 1116(n40)
Techniques, production, 544–47, 562(n8)
Technocrats, 546(n35), 650(n10)
Technology
- as resource, 1125
- axiom, 460(n5)
- economics, and size of firm, 645–51
- improvements used, 545, 587
- investments, 542
- knowledge, 527, 647
- mathematics, 470(n7)
- praxeology, 74
- production processes, 540
- recipe, 11, 43
- underdeveloped countries, 542
- unemployment, 587
- valuation, 329, 329(n6)
Textbook, contemporary, liii
Theft, 177
Thrift, 1036; see also Investments
Timber, 1126(n56)
Time
- action, 13–17, 13(fig. 1)
- banks and banking, 804(n30)
- barter, 271
- buying and selling, 157, 1102
- consumer, 8, 42, 404
- Georgist view of, 1199(n43)
- influence, 4
- market
  - components, 404
  - interest rate, 375–79, 414(fig. 50), 418(fig. 51)
  - loan, 377
  - production structure, 390–410
- maturing, 70
- money regression, 268, 1021
- period, 455(n2)
- preference, lvii, 1124(n54), 1159, 1166–67, 1170(n23), 1278
  - capitalists, and individual money stock, 410–16
  - consumers, 377, 404, 451(n44), 789
  - forces affecting, 443–44
  - importance, 167, 320
  - individual
    - money stock, 410–16, 774
    - value scales, 379–89
  - investments, 531, 539–40, 788, 995
  - Knight's views, 504
  - Mises-Fetter theory of, lvii
  - production, 9, 42, 46, 51, 402
  - rate, 62
  - rentals, 296
  - savings, 411, 517–18, 530–31, 539
  - schedules. See Schedules, time preference
  - services, 289(n30)
  - structure and interest rate, 445–49, 449(fig. 55)
  - want-satisfaction, 16(fig. 2), 50
- production and consumption, 8, 42, 46
- value scales, 379–89
- waiting, 15, 537
- working, 14
Tolstoyans, 1251
Total
- cost curve, 727
- demand to hold, 137–42, 138(table 4), 139(fig. 23), 148(fig. 25)
- marginal, 314
- outlay, 128(fig. 17)
- utility, 314
Trade
- balance, 823, 1011
- barriers, 903, 906, 906(n27), 959(n72)
- commodity, 122, 196
- foreign, 825
- interlocal exchanges, 820
- international, 617, 620(n66), 906(n27), 1012
- tariff, 903, 906
- terms, 792–98
- unions, 713
- U.S.S.R., 959(n72)
- see also Exchange
Trademark, 664
Traffic-manager analogy, 1334
Transfer payments and subsidies, 942–44, 1253–58
Transportation costs, 619, 820
Triangular intervention, 878, 892–907
Typology of intervention, 877–78, 942

Uncertainty
- cash balance, 203, 264, 759, 775, 805
- future, 7
- investment, 60, 552
- periods, 857
- real world, 376, 767
- risk, insurance, 553–55
Underdeveloped countries, 542, 914(n34), 966(n77), 967(n78, n79), 970, 970(n83), 971(n85), 973(n87), 1334–35
Unemployment
- depressions, 581
- economics, 582, 782, 790
- frictional, 585(n23)
- Galbraith's views, 986
- income, 779
- problem, 581–88
- relief, 944, 985, 1115, 1258
- social income and expenditures, 776–85
- technology, 587
- temporary, 586(n24)
- voluntary, 585(n23)
- wages, 583, 780, 782(fig. 80), 783(fig. 81), 784(n16), 897
Unions. See Labor, unions
Use-value, 131, 223, 224, 253
Utility
- buying and selling, 239, 254, 276
- costs, 266, 276–78
- equality, 307
- ex post: free-market and government, 885–91
- fallacies, 302–11
- goods, 288, 296, 375, 385
- intervention, direct effects, 878
- mathematics, 326(n3), 327(n5), 470(n7)
- measured, 28, 258, 313
- prices, 276–79, 302–11, 611
- size of unit, 307
- social, 879, 882, 891
- stock of money, 263, 764–67
- supply, 25, 260
- see also Marginal utility

Vagrancy laws, 1119(n44)
Valuation
- action, 309; see also Human action
- capital. See Capital
- change, 40, 527
- communistic, 172, 959, 959(n71, n72)
- consumer and producer, 569–70
- convertibility, 38–42, 65
- discounting, 453–507
- determination, 278(n23), 649
- ends, 17–21
- exchange, 88, 99, 131, 223, 758
- goods, 20, 288, 296, 343, 375, 384
- inequality, double, 103
- labor, 342(n14); see also Labor
- land, 171, 934–37
- long-run, 359
- maladjustments, 512(n1)
- marginal utility. See Marginal utility
- Marshall's views, 357
- Mises's views, 314
- prices, 236, 316–17
- process, 6, 20
- producer, 315, 569(n12)
- self-determined, 738
- services, 288
- short- and long-run, 357
- socialistic, 614, 659, 875, 958, 966
- speculation, 7, 510
- subjective, 343
- technological, 329
- unit, 288
- use, 131, 223, 224
- wealth, 657, 743, 988(n103), 989
- weighed, 11
- see also Value scale
Value paradox, 22, 33
Value scales
- action, 309
- buyers and sellers, 106–26, 111(fig. 12), 123(fig. 15), 125(fig. 16)
- exchange, 85, 88(figs. 5 and 6), 99(fig. 7)
- goods, kinds, 214
- income, 218, 633
- individual, 107, 239, 379–89
- marginal utility, 30(fig. 4)
- market, 243
- mathematics, 19
- money, 219, 261
- preference, 6, 17
- prices, 236, 836
- quantity of supply of means, 26(fig. 3)
- time, 6, 379–89, 383(table 11)
Variation, human, 97(n16), 577(n16)
Vertical integration, 367, 394, 609–16, 610(fig. 65), 610(n55), 611(fig. 66)
Violence, 79–84, 875–1041
- and power, 1326–33
Voting, 886, 890, 1070–74, 1247–52, 1288(n27), 1289–91
- tax, 1240, 1247–52, 1247(n83)

Wages
- defined, 509, 559
- determination, 716
- difference, 577
- implicit, 565(n9), 601(n49), 606
- income, 575, 781
- increase, 578(n19), 579(n20)
- indeterminacy, 716
- inflation, 784
- land, rents, 557
- managerial, 601
- minimum, 784, 897
- monopoly, 705
- payment, 479
- rates
  - income, 575, 781
  - lower and higher, 757, 782(fig. 80), 783(fig. 81)
  - money, 531, 782(fig. 80)
  - overt and total, 580–81
- rents, 558
- restrictionist, 707(fig. 69), 907
- services, 525
- taxation, 928
- unemployment, 585, 782(fig. 80), 783(fig. 81)
- union, 704, 705(n58), 718
Wagner Act, 897(n22)
Wagner-Taft-Hartley Act, 1114
Waiting time, 15, 537
Walrasian tax views, 910
Want-satisfaction
- advertising, 666(n28), 738(n88), 888, 978, 978(n93)
- attained, 654
- collective, 1030
- consumer and welfare comparisons, 298
- disutility, 44, 49
- Galbraith's views, 977
- leisure, 43
- marginal utility, 27
- means and ends, 879(n4)
- satiation, 73
- scale, 18
- time, 15, 16(fig. 2), 49
- see also Human action; Valuation; Value scales
War, 94, 926
Wards, 1355
Waste, 66, 637, 647, 941, 1041(n152)
Water
- ownership, 173, 174(n42)
- shortage, 1260
Wealth, 657, 743, 988, 988(n103); see also Capital; Income; Investments; Money
Welfare economics, 1360–62
Welfare, comparisons and consumer satisfaction, 298–302, 723(n72)
Wicksteedian theory of price, 817
World
- prices, 680–81, 959(n72)
- real
  - calculation, 616
- government, 1051
  - income, 606
  - interest rate, 367
  - money, 377
  - profits and losses, 514
  - speculation, 510
  - uncertainty, 376, 767
Worst on top, 1266(n9)

Yugoslavia, 1276, 1276(n17)

Man, Economy, and State, with Power and Market

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