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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'...

Filed under: F.A. Hayek, Prices and Production, Hayek, economics, theory of capital, monetary theory, aggregates, markets, business cycles

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...

Filed under: F.A. Hayek, Prices and Production, Hayek, economics, theory of capital, monetary theory, prices, markets

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...

Filed under: F.A. Hayek, Prices and Production, Hayek, economics, theory of capital, monetary theory, assumptions, prices, markets

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...

Filed under: F.A. Hayek, Prices and Production, Hayek, economics, theory of capital, monetary theory, assumptions