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Compensatory Justice and the Problem of Knowledge
Published Sat, Jan 9 2010 3:02 AM | laminustacitus
The concept of coercing those who have indirectly benefited from either racism, or sexism to pay compensation to those who have been negatively effected is a ridiculous legal concept that holds tyrannical potential. However, not only is the program nigh...
A Critique of Rawls: The Unknowable Social Order
Published Tue, Nov 3 2009 6:30 AM | laminustacitus
In A Theory of Justice , John Rawls elucidates a theory of justice that holds two basic principles of justice: 1. each individual is to have equal liberties in a scheme that enables the greatest amount of liberty without encroaching on those of others...
Prices, and Production: Lecture III, Part V
Published Fri, Sep 4 2009 2:04 AM | laminustacitus
It is now time to move from a case where credits are given to producers to where consumers are being given credits. Indeed, the general effects of an increase of money via consumers' credits, which will result in an increased relative demand for consumers'...
Prices, and Production: Lecture III, Part IV
Published Thu, Jul 9 2009 4:50 PM | laminustacitus
The importance that the adjustments of the price mechanism free of any external influences has in respect to a prospering economy is highlighted when we investigate the results of the “'natural' movement of prices” is disrupted by...
Prices, and Production: Lecture III, Part III
Published Sun, Jun 28 2009 8:28 PM | laminustacitus
The initial changes in the relative prices between producers' goods, and consumers' goods, resulting from a change in their relative demands, cause a movement of goods to other stages of production – a definite price relationship will only...
Prices, and Production: Lecture III, Part II
Published Fri, Jun 26 2009 3:43 AM | laminustacitus
Once again, as done in previous lectures, we shall analyze the results of a scenario where consumers decide to save, and accordingly invest a larger portion of their income than before; however, here we shall see the effects the price of goods will have...
Prices, and Production: Lecture II, Part IV
Published Sat, Jun 6 2009 8:33 PM | laminustacitus
At last we are ready to begin the main problem of this lecture, that is the problem of how a transition to a more capitalistic structure of production, or vice versa, is brought about, and what are the conditions that must be fulfilled for a new equilibrium...
Prices, and Production: Lecture II, Part III
Published Fri, Jun 5 2009 1:15 AM | laminustacitus
It is now time to add the flow of money into Hayek's theoretical apparatus. While the Hayekian triangle is used to illustrate the movement of goods through the economy's structure of production, it is just as legitimately utilized as a schematic...
Prices, and Production: Lecture II, Part I
Published Sun, May 24 2009 12:25 AM | laminustacitus
Lecture 2: “The Conditions between the Production of Consumers' Goods, and the Production of Producers' Goods” In order to understand how prices influence the amount of goods produced, it is necessary to understand the causes behind...
Prices and Production, Lecture I: Part I
Published Sun, Feb 15 2009 5:57 AM | laminustacitus
The first lecture of Prices and Production is primarily concerned with the critique of aggregates and contemporary economics, premodern theories of money and interest, the doctrine of forced savings, and the role of the interest rate in respect to keeping...
Prices and Production: Hayek's Assumption
Published Mon, Feb 9 2009 4:59 PM | laminustacitus
Hayek realized that many of the difficulties involved with the first edition of Prices and Production could not be clarified without rewriting the entire book. Indeed, those obstacles were inherent in the mode of expression that he decided to utilize...
Prices and Production: A Few Historical Notes
Published Mon, Feb 9 2009 6:31 AM | laminustacitus
Prices and Production arose, not as a book in and of itself, but out of a series of four lectures that Hayek gave during the 1930-1931 session of the LSE about Hayek’s recent contributions to, in his own words, “theoretical economics”...
"Biography of F.A. Hayek (1899-1992)" by Peter G. Klein
Published Mon, Feb 9 2009 5:40 AM | laminustacitus
Before one begins to read the live-blogging of my study of Hayek's Prices and Production , I highly suggest that Peter G. Klein's splendid little biography of him becomes prioritized for reading.
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