Index

A | B | C | D | E
F | G | H | I | L
M | P | R | S | T
U | W

A

Action

definition of, 1

individual and changing features of, 13

prerequisites of, 1–2

uncertainty and, 45

Anarchismm, 68

Appraisement, 134

A priori

character of praxeology, 11

definition of, 15

relation to reality, 12

Association

law of, 65–66

B

Banking

free, 158–59, 163–64

Barter agreements

Nazi, 306–07

Barter economy, 86

Bureaucracy, 120

Business cycle. SeeTrade cycle

C

Calculation

and the market, 88

as basis of civilization, 80, 82

impossibility under socialism, 263

problem of, 87–88

relation to capital, 101

scope of, 93–94

Capital

accumulation, 229

consumption, 181–82

link to calculation, 101, 116

Capital goods

convertibility, 180

definition of, 116

in production structure, 177–78

Capitalism

as Marxist smear term, 101

basis of civilization, 116

relation to big business, 116–17

Cash balance, 153

Catallactics. SeeEconomics

Competition

social versus natural, 117–18

Conception, 13–14

Consumer sovereignty, 117, 136–37, 227

Copyright, 137, 247

Corporativism, 320–21

Cost

accounting, 135

definition of, 30

external, 247, 248

Credit

contraction, 211–12

expansion, 205, 209–12, 304–05

D

Darwinism, 67

Deflation, 156, 211–12

Democracy

case for, 64

“industrial,” 319–20

Devaluation, 303–04

Dualism

methodological, 3

E

Economics

as profession, 351–52

citizen and, 353

Crusoe, 87

education and, 353

freedom and, 353

judgments of value and, 359–60

mathematical, 135, 265

public opinion and, 347–48

scope of, 105

singularity of, 347

study of, 351

universities and, 352

Economy

Market. Seemarket economy

progressing, 108, 119–20

retrogressing, 108

stationary, 108

Entrepreneurship, 119–20, 133–34

Equilibration, 134

Evenly rotating economy, 108, 196, 241

Exchange

action as form of, 30

autistic, 79, 107

interpersonal, 79

media of, 151

Externalities

negative, 247, 248

positive, 247, 248

F

Fiduciary media, 158

Foreign exchange control, 305–06

Freedom, political versus economic, 118

G

Game theory, 47, 49

Genius

creative, 56, 59

God

relation to liberalism, 64

relation to praxeology, 4–5

relation to society, 63

Gold standard, 161–62, 301

Goods

consumers’, 29

first- and higher-orders of, 29–30

free, 29

non-material, 30

producers’, 29

Gresham’s law, 292, 302

H

Harmony of interests, 252

History

as science of human action, 11

scope and method of, 13

Homo oeconomicus, 248

Human action. SeeAction

I

Ideal types, 14

Ideology, 73–75

Idle capacity, 139, 214

Imaginary construction, 86, 105–06

Income

distribution, 139

inequality, 334–35

Individualism

methodological, 12

Industrial Revolution, 229

Inflation, 156

Instincts

of aggression and destruction, 66–67

serviceableness of, 4

versus action, 2

Interest

components of gross rate of, 206–07

originary, 193–95

neutral rate of, 205

relation to time preference, 193

Interventionism, 271–72, 343–44

Investment, 183–84

L

Labor

definition of, 55

disutility of, 55

division of, 63, 65, 66

extroversive, 223–24

immediately gratifying, 56

introversive, 223–24

mediately gratifying, 56

slave, 231

unionism, 294–95

Laissez faire, 273

Land

as standing room, 240–41

definition of, 240

pricing of, 241

reform, 313–14

submarginal, 240

Legal tender legislation, 302

Liberalism

and case for democracy, 64

and peace, 326

relation to gold standard, 161, 301

relation to praxeology, 64

Loss

definition of, 31

source of, 251

M

Malinvestment, 210

Marginal utility

law of decreasing, 53–54

Market economy

as affected by trade cycle, 213–14

autonomy of, 291–92

case against, 333

characteristics of, 115

pure, 106–07

war and, 326–27

Means-ends framework, 29

Money

as solution to calculation problem, 87

definition of, 151

demand for and supply of, 152–53

fiat, 157

“hard,” 302

purchasing power of, 152

Monopoly

of demand, 137

price, 136

P

Patent, 137, 247

Polylogism, 23–25

Poverty, 333–34

Praxeology

aprioristic character of, 11

definition of, 1

prediction with, 47–48

versus history, 11

Price

and production, 139

controls, 292–93

definition of, 30

determination, 133–34

discrimination, 138

nonmarket, 139

stabilization of, 94–95

Probability

case, 45–47

class, 45–47

meaning of, 45–46

Production

factors of, 29

mass, 230

period of, 175, 178–79

relation to action, 56–57

restriction of, 283–85

Productivity

marginal, 225

Profit

entrepreneurial, 119–20

maximization, 106–07

source of, 251

Property

private, 252–53

R

Rationality

relation to action, 3

Reason

as feature of man, 73

case for, 25

revolt against, 23

Regression theorem, 162, 163

Rent, theory of, 239

Returns

diminishing, 55

law of, 54

Ricardo effect, 296–97

S

Saving

and accumulation, 177, 183–84

forced, 208–09

Scale of value, 30, 53

Services

definition of, 30

Singularism

methodological, 13

Social justice, 336–37

Socialism

doctrine of, 258

guild, 320–21

impossibility of calculation under, 263

market, 265

origin of idea of, 257

patterns for realization of, 271–72

praxeological character of, 258

Society

definition of, 63

individual within, 66

State of rest

final, 107–08

plain, 107–08, 110

Stock market, 183, 186–87

Subjectivism, 3–4

Syndicalism, 319–20

T

Tariff, 284

Taxation

confiscatory, 314

neutral, 279

objectives of, 280

total, 279–80

Third system, 271

Time

factor in land utilization, 239–40

in praxeology, 37–39

maturing, 175

preference, 176

waiting, 178–79

working, 175

Trade cycle, 205

U

Uncertainty

acting and, 45

Understanding, 13–14

Unemployment

catallactic, 226

institutional, 294, 303

Utility

definition of, 2

W

Wages

definition of, 225

determination of, 225

gross and net rates of, 227

iron law of, 227

minimum rates of, 293–94

War

market economy and, 326–27

total, 325