P

Pacemakers of capitalism, 8–9, 615

Pain and pleasure, 15

Palmer, Robert, 819n

Panic, see, Depression

Panphysicalism, 7, 8, 17–18, 23–24

Panslavism, 838

Papi, Ugo, 814n

Paraguay, 831

Pareto, Vilfredo, 697, 71 In

Parity, foreign exchange and, 452, 457, 781

Participation, law of, 36

Party programs, 181–184

Pascal, Blaise, 106

Passfield, Lady, see, Webb, Beatrice

Passive inflationism, 570n

Past, economic role of, 502–510

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

Pathology, 20

Pax Britannica, 191

Payments, balance of, 447–149, 453–455

Peace

durable, 819–821, 827–828

war and, 147–148, 680–684, 817

Peel's Act of 1844, 569

Perfection, 70, 415

Period of adjustment, 648–650

Period of production, 476, 484, 485, 487, 490–496, 526, 544

Period of provision, 253, 478, 490–496

Perversity, 95

Phenomena

complex, 31

historical, 33

market, 2, 233, 312, 469

mental grasp of, 50

of interest, 521–523

of valuation, 393

psychological, 483

scientific research and, 17

social, 157, 275, 287

Philosophy

background of

epistemological problems, 30–71

human action and, 11–29

introduction to, 1–10

confiscation, 800–801

history of, 28

revolt against reason, 72

Phlogiston theory, 41

Physiocracy, 9

Physiology, 96see also, Natural sciences

Pierson, Nikolaas Gerard, 697

Pigou, Arthur Cecil, 844n

Pioneers, 138

Planning

advocates of, 672

argument for, 725

for freedom, 725

partial, 259

self-contradictory, 104n, 696, 784see also, Interventionism; Socialism

Poincaré, Henri, 39n

Politics

British, 9, 147

goal of, 315, 649, 737, 835

organizations of, 182

terminology of, 272–273see also, Interventionism; Privileges; Restrictions

Polylogism, 5, 6, 7, 75–89

Pompadour, Madame, 650

Poor relief, 242, 600, 833–836

Population

comparative, 623–624

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

optimum size of, 129, 663, 668

Positivism, 4, 17–18, 26, 31, 56

Post Office Saving Service, Austrian, 442

Poverty, 242, 600, 670, 831–836

Power

lust for, 802–803

role of, 188, 643–645

Pragmatism, 23–24, 32, 126n

Praxeology

attack upon, 5

capital and, 482, 512

causality and, 22

changes and, 352

concept of the present, 100–101

definition of, 3, 12, 28, 32, 142, 235

economics and, 1–3, 92, 95, 497, 879

formal and aprioristic character of, 32–41, 64, 407

history and, 28, 30–32, 100

liberalism and, 153–155

limitations on concepts of, 69–71

method of, 237

objective of, 185

polylogism and, 77–84

prediction of, 117–118

principles of, 402

psychology and, 12, 123–127, 483–185

reality and, 39, 92, 642

research, 18–21

science of, 7, 10, 15, 36, 39–40, 51, 64, 68, 160, 173, 642, 647

socialism and, 691–693

temporal character of, 99–100see also, Action, human; Sciences

Precapitalistic era, 615

Predetermined harmony, doctrine of, 240

Prediction

business, 649, 866–868

economic, 105, 117

quantitative, 207

Prelogical thinking, 34–38

Preromantic age, land and, 641

Present, praxeological concept of, 100–101

Pressure groups, 269, 314–315, 865–866, 870see also, Interventionism

Prices, ch. 16, pp. 324–394

booms and, 550

catallactics and, 329, 375

ceilings, 757

changeability of, 218–220, 294

classical theory of, 62

competitive, 354, 358

connexity of, 388–389

control, 336, 752, 756–763, 822

costs and, 97, 349

determination of, 270, 331, 394, 423, 701

discrimination, 327n, 385–388

economic progress and, 466

equilibrium, 248, 326, 707

final, 246–247

foreign exchange and, 516

for government services, 738

formation of, 62–64, 213, 388

income and, 390–391

interference with, ch. 30, pp. 752–773

just, 721, 722

labor, 602

land, 390, 523, 633, 639–640

level of, 223, 395–396, 410

market and, 246, 335, 390, 756

maximum and minimum, 753, 757

money, 202, 206, 216

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

nonmarket, 392–394

of goods of higher order, 330–335

parity, 452, 457, 781

premium, 428, 467, 538–542, 545, 548–549

processing, 324–328

production and, 391–392, 632

rise in, 299, 408, 420, 466, 551

statistics, 326–328, 347–349

theory of, 245

value and, 97, 202–206, 390, 632

wages and, 690, 721, 722see also, Consumers; Entrepreneurs; Socialism, economic calculation under

Primitive man, 36–38, 145, 600

Private property, 264, 308–309, 650–651, 678–680, 719

Privileges

economic effects of, 80, 81, 312–313, 658–659, 742

restriction of, 741–749

Probability

case, 110–115

class, 107–110

meaning of, 106–107

numerical evaluation of, 113–115

Producers' goods, 93–94

Producers' policy, 312–313, 315

Production

anarchy of, 240, 256, 579–580

big-scale, 338, 367

businessman and, 489

consumption and, 354, 427, 736

cost of, 340, 367

direction of, 140–142, 259, 297

diverted by tariffs, 737

expansion of, 298, 554

factors of

booms and, 566, 576–578

labor and, 589, 610

original, ch. 22, pp. 631–641

prices, 331, 336, 522, 694, 757

produced, see, Goods, capital

utilization of, 93, 338, 391, 576

for use, 297

good will and, 376–380

government ownership of, 259, 736

improvement in methods of, 9, 613

interventionism and, 655, 736, 800

labor and, 136, 605, 606, 674, 675n

market economy and, 488

Marxians and, 141

mass, 384, 587, 616

means of, 207, 705

nonhuman original factors of, ch. 22, pp. 631–641

period of, 476, 484, 485, 487, 490–96, 526, 544

prices and, 391–392, 612

process of, 288, 292, 478, 488, 499

restriction of, ch. 29, pp. 736–751

taxation and, 800

transition of, 613n

war, 821see also, Capital; Saving; Technology, Wealth

Productive forces, 9

Productive or unproductive activities, 244–245

Productivity theory of interest, 263–264, 522–531

Profession

economic, 865–866

forecasting, 866–868see also, Education

Profits and losses

accounting, 213, 701

difference between, 97–98

driving power of, 3, 297

entrepreneurial, 286–297, 375, 393, 514, 531, 739n

good will and, 379

illusory, 421, 546–547

maximization of, 128, 241–244

monopoly and, 358

psychic, 287

sharing, 811

source of, 291, 633, 660–662, 868

theory of, 252, 343, 347, 532, 804–807

wartime, 823

Progress

booms and, 573

rising prices and, 466

Progressing economy, 252, 292–296, 411

Prohibition, American, 728

Prolabor policies, 313–314, 738–741, 746–749see also, Interventionism

Proletarian, 74, 88

Promonopoly party, 384

Promoters, 255–256, 300–107, 309, 324, 325, 333, 582see also, Entrepreneurs

Propaganda

anticapitalist, 587

business, 316–319

Property

legal definition of, 650–651, 678

private, 264, 308–309, 650, 678–680, 719

right, 650–656

social and economic meaning of, 679–680see also, Government; Investments; Land; Ownership; Production, factors of

Prosperity, 429, 793 n

Protectionism, 81–84, 160–161, 313–314, 361–365, 505, 738, 742–749see also, Foreign exchange; Tariff; Trade

Proudhon, Pierre Joseph, 186

Provision, period of, 253, 478, 490–496

Prussian Historical School, 4, 603

Pseudo-liberalism, 153

Psychoanalysis, 12

Psychology

instinct of, 15

praxeology and, 12, 123–127, 483–485

Psychopaths, 12, 185–187, 315–316

Psychophysics, 125–126

Public debt, 226–229, 843–845

Public finance, see, Spending, public; Taxation

Public opinion, economics and, 537, 859–860

Public ownership, see, Government

Public utilities, 372–373

Public works, 792

Purchasing power

capital accumulation and, 518n

changes in, 203, 416–425, 428

measurement of, 221

of money, 221, 396, 399, 405–413, 416–419, 464, 606

parity theory of foreign exchange, 452

stabilization of, 220, 416

wage argument, 298–299see also, Money

Pythagoras, 38, 79