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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: 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...