M

Machine Age, 837

Machlup, Fritz, 517n, 570n, 790n

Maclver, Robert Morrison, 144n

Magic, 37

Maistre, Joseph, 860

Majority rule, 76, 149, 153, 193, 647n

Malinvestments, 391, 556–558, 561, 580see also, Booms; Credit expansion; Depressions

Malthus, Thomas Robert, 664

Malthusian law of population, 20n, 129, 174–175, 663–669

Man

acting, ch. 1, pp. 11–29

common, 46, 192–193, 611, 616–617

economic, 62

inequality of, 134, 157, 173–174, 837–838

irrational, 314

member of society, 41

primitive, 33, 36–38, 145, 600

rational, 19

real, as a datum, 646–647

vegetative, 28–29see also, Action, human

Management, 301–305, 306, 703–704, 810, 855see also, Entrepreneur; Government; Interventionism; Ownership

Manchester School, 239, 819, 824, 827

Mandats territoriaux, French (of 1796), 425

Mangoldt, Hans Karl Emil, 289n

Marginal productivity of capital, 293

Marginal utility, 119–127, 632

Margins, doctrines of, 337

Mark, German (1923), 425

Market democracy, 271

Market economy

advantages of, 667

affected by trade cycle, 572–583

autonomy of, 752

capital, 543

case against, 829–831

catallactics or economics of, Part 4, pp. 233–684

characteristics of, 258–260, 678

competition and, 117, 308–311

consumers and, 270, 328, 390

data of, ch. 23, pp. 642–659

democracy and, 271, 678

denial of, 320

economic calculation and, 210–212

features of, ch. 15, pp. 258–323

function of, 392, 757

government and, ch. 27, pp. 712–729, 752–763

hampered, Part 6, pp. 712–857

individual and, 311–316

loan, 524, 542–545, 572

labor and, 584–630

money and, 398, 459, 543

nonmarket economy and, 206

phenomena, 2, 233, 312, 469

price, 246, 335, 388, 756

process, 216, 330, 352

production in, 488

profit and loss in, 660–662, 701

public expenditures and, 221, 734, 851

pure, 238–241

reaction to government interference, 756–761

selective process of, 308–311, 700

social cooperation and, Part 5, pp. 685–711

socialism and, 335, 672, 687, 712

stock exchanges and, 514–515

theory and data of, 642–643, 672

versus welfare principle, ch. 35, pp. 829–850

wage rates in, 619–620

war and, 821–824see also, Capitalism; Cycle theory; Distribution; Entrepreneurs; Exchange; Interventionism; Liberalism; Monopoly, prices; Private property

Marketability, 398, 459

Marshall, Alfred, 385n

Marshall, John, 733

Marx, Karl

communism and, 644n

doctrine of, 74, 78–82, 84, 216n, 497, 605, 689–691, 861

socialistic approach to government, 260, 265, 267, 671n

terms of, 268

theory of

capitalism, 612, 690, 860

economists, 9

unionism, 765

wages and exploitation, 601–606, 612

Marxism

analysis of capitalism, 612, 690, 860

class struggle and, 671n

commercial crises of, 579

criticism of economists, 9

ideology, 5, 74, 78–79, 82, 207

polylogism and, 75

production and, 141

productivity of labor and, 675n

socialism, 260, 265, 267, 67In, 689–691

theory of, 5, 152, 236, 670–671, 873

Mass production, 384, 587, 616

Materialism, 17, 73, 79–84, 154, 193–194, 217

Mathematics

equation of exchange, 393, 410

gambling and, 106

geometric theorems of, 38, 211

logic and, 99

method of economics, 251, 257, 330, 347–354, 374–376, 396, 410, 697–698, 706–711

probability, 107

treatment of theory of monopoly prices, 374–376see also, Calculation; Economics; Measurement

Maupassant, Guy de, 268n

Mauretania, 747

Maximization of profits, 128, 241–244

Maxwell, James Clark, 77

McDougall, William, 16n

Meaning, 26, 28, 42, 59, 92

Means and ends of action, 70, 92–94, 201–202, 208, 476

Measurement

of changes, 223–224

of elasticities of demand, 55, 249

of purchasing power, 221

of value, 121–122, 205

process of, 210see also, Calculation; Economic calculation; Mathematics; Quantitative economics

Mechanicalism, 23

Media of exchange, 40, 209, 395, 398, 459–463, 774see also, Money

Medical prognoses, 110

Meliorism, 192–194, 690–691

Memory, 34–35

Menger, Carl, 121, 123, 331, 402–404

Mensheviks, 152

Mental disability, 185–187

Mercantilism, 53, 448, 453, 660

Metals, precious, 225see also, Gold; Silver standard

Metamorphosis, 34

Metaphors in language of economists, 114, 117, 272–273, 456–457, 725–726

Metaphysics, 17, 25, 31, 32, 145–153

Methodenstreit,4

Meyers, Albert, 647n

Meyerson, Emile, 38n

Might, 188–191, 644see also, Majority rule

Migration

wages and, 622

war and, 820, 821, 828

Mill, John Stuart, 107, 204, 413–416, 493n, 674n

Mind and reasoning, 12, 34, 50, 72

Minority rule, 190, 191n

Mintage, 774

Mises, Ludwig, 187n, 265n, 307n, 398n, 413n, 485n, 498n, 674n, 705n

Mitchell, Billy, 509

Mitchell, Margaret, 625n

Mixed economy, 259–260, 712

Moloch, 160, 719

Monetary areas (blocs), 782

Monetary calculation, ch. 13, pp. 230–232; 395n, 421–422, 488, 517

Monetary cooperation, international, 473–475

Monetary entries in economic calculation, 213–215

Monetary Fund, International, 475, 785

Monetary or circulation credit theory, 204, 430, 567–573

Monetary Union, Latin, 469

Money

bimetallism and, 468–469, 775–776

British problem of, 439, 568, 778

capital and, 517–520

certificate, 430, 432, 442

checkbook, 442

commodity, 425

credit, 425–126, 432n

de facto standard, 469

demand for, 398–402

economic calculation and, 215, 225

errors in popular doctrine of, 395–398

exchange economy and, 415

expenditure, 221

features of, 471

fiat, 394, 426, 432n, 568

flexible standard, 781, 784

force of, 413–416, 535

government interference with, 468, 570

government issue of, 409

hot, 461–463

import and export of, 448

increase in quantity of, 409

loans, 430

market, 398, 459, 543

media of exchange, 40, 209, 395, 398, 459–463, 774

mintage, 774

monometallism, 469

neutral, 203, 250, 395–396, 413–416

origin of, 402–404

paper, 409, 418, 780

prices, 202, 206, 216

purchasing power of, 221, 399, 405–413, 416–419, 464, 606

quantity theory of, 38, 55, 232, 402

relation, 408, 414, 427–429, 455–459, 544–547

sound, 776

stabilization of, 220

substitutes, 425–426, 429–431, 433, 447, 461, 469, 473

supply of, 225, 398–402, 431, 551, 571

theory of, 186, 204, 395, 469, 552, 578

trade and, 446, 455

value, 348, 406, 408, 425–427see also, Banking School; Banks and banking; Credit; Currency; Deflation; Exchange; Fiduciary media; Gold; Gresham's Law; Inflation; Legal tender; Silver standard

Monism, 17, 25, 712

Monometallism, 469see also, Gold; Silver standard

Monopoly

agriculture and, 367

competition, 357, 378

connotation of, 277–278

copyrights, 382–383, 657–658, 676–677

entrepreneurs and, 358

failure, 368–370

for cereals, by Swiss government, 388

gain, 369, 375

incomplete, 359

licenses, 366, 658–659

limited-space, 372

local versus urban, 370

margin, 361, 366–367

of demand and supply, 380–381, 591–593

patents, 360, 363, 382–383, 507–509, 657–658, 676–677

prices, 278, 354–376, 381–384, 676, 760–761

profits and, 358

requirements of, 358–368

trend toward, 363, 383–384, 677–678

Montaigne, Michel, 660, 682

Morality

precepts of, 15, 95, 146, 173, 716, 719, 755, 835

profits and, 297

restraint, 175, 664, 719, 763see also, Social justice; Welfare principle vs. Market principle

Morgenstern, Oskar, 117n

Mussolini, Benito, 84, 645, 814n

Mysticism, 80, 166

Myth of the soil, 640–641