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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'...
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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...
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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...
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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...
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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...
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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...
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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...
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