Subject Index

Action, human; See Praxeology

Affirmative action; See Quotas

Aggression, 69, 70, 76; See also Non-aggression principle

Agricultural Adjustment Act, 36

American Federation of State, County, and Municipal Employees v. State of Washington, 125, 137, 138

American history; See also United States of America

American Revolution, xi, 271-72

Civil War, 34

Colonial period, xi

Constitutional Convention of 1787, 33

Ethnic and religious aspects, 399

Spanish-American War 368-69

Anarchism, xiii, xiv, xvi, 13, 32, 210, 236, 280, 312-13, 376, 394, 401

Anti-Corn Law League, 343

Anti-militarism, 342

Anti-trust policy, 3-6, 10, 357

reform movement, 5-7

See also Monopoly Apartheid, 134, 144

Aprioristic reasoning, xiii, xvi, 62, 63, 66, 72, 90, 92, 102, 157

Architecture, baroque, 398

Argumentation, 62-64, 67, 72, 74

Arlington House, 161, 162

Austrian school of economics, ix, x, xi, 57, 77-78, 79, 83, 88, 139, 147-48, 156, 168

See also Mises, Ludwig von; Menger, Carl; Böhm-Bawerk, Eugen; Rothbard, Murray

Bank of the United States, ix, 34

Banking, xvii, 36

Fractional reserve, xv, 24-31, 36, 332

Free, 42, 102, 357

One-hundred percent reserve, ix, xv, 102, 145

Bayesian Rationality, 176

Boycotts, xii

Bretton Woods, 141-42

Bribery, xii, 104

Business cycle; See trade cycle Calculus, 105

Capital; structure of production, ix, 46, 50, 52

Caste; See class analysis

Cato Institute, 393

Central bank, ix, 140, 145, 155, 160

Central planning; See Planning

Charity, 199, 202

Chicago school of economics, 97, 147

See also Monetarism

Civil Rights Act of 1964, 125, 132, 137

Class analysis, 312-14, 316, 318, 362, 375

Closed shop, 291-02

Coercion, xi, xiii, 14, 17, 18, 147, 196, 236, 241, 242, 245, 283, 287, 289, 293, 304, 310-11

Private power, 284, 285, 287

Coinage Acts; of 1792, 33

of 1834, 34

Cold War, 366

Collectivism, 200, 202-03, 212, 250

Collusion, 319, 320

Columbia University, ix, 97, 392, 398

Community, 203-06

Communist Party, 367, 389

Comparable worth, xvi, 125-38

Competition, 4, 6

Perfect, xiv, 4, 6, 8, 111, 118, 120

Rivalrous, xiv-xv, 4, 118, 143, 237

Congress of German Economists, 345, 346

Conscription; draft, 101, 273

Conservation, 71

Conservative Book Club, xviii

Conservatism; conservative movement, xvi, 69, 202-03, 206-07, 366, 374

Constitutionalism, in political theory, 32, 359, 362

Consumer sovereignty, xv, 7, 135, 143

Contractarianism, 177, 187

See also Social contract; Buchanan, James M.

County of Washington v. Gunther, 125, 137, 138

Courts, private, xii, 275

Crime, 284

Criminal justice system, xii

Declaration of Independence, 239, 245

Deflation; See Money

Diminishing marginal utility, theory of, 146, 177, 182

See also Menger, Carl; Walras, Leon

Discrimination, 130, 132, 133-35, 291-93

Draft; See Conscription

Economic calculation, 103, 107

See also Socialism; Monopoly

Economic coordination, 81, 83-85, 87-88

Economic determinism, 363

Economic liberty; economic freedom, 120

Economics

as qualitative, 154

history of thought, xi

Supply-Side, 141

welfare, 77, 114

See also Methodology; Praxeology

Education, xii, 277, 376

public schools, 310

Efficiency, 6, 7, 110-24

marginal, 118, 119

measurement of, 116-17

social, 7, 9

X-efficiency theory, 110, 112, 113

Egalitarianism, 61, 175, 177-78, 180-81, 188, 239, 255, 262-63

See also Equality

Elitism, 210-11, 314-15

See also Oligarchy

Entrepreneurship, 104, 117, 118, 119, 311, 357-58

Equal pay, 125

Equal Pay Act of 1963, 125, 126, 132

Equality; of opportunity, 134, 135, 187-88

of results, 134

See also Egalitarianism

Equilibrium, 8, 47, 111, 120, 122

Partial-equilibrium analysis, 50, 510

Essentialism, 289

Ethics; morality, xvi, 59, 60-72, 74, 102, 110, 120, 131, 175, 196, 197-212, 223, 229-34, 237, 238-45, 272

virtue, 195

Ethical relativism, 370

Evenly rotating economy, 105, 109

Externalities, 73, 115

Fault principle, in law, 128

Federal Reserve Bank, ix, 35, 36, 37, 147, 154-55, 165-66, 168-71

Feminism, xvi, 125-38

Film criticism, xvii-xviii, 383-91, 393, 397, 399

Firm, theory of, 112, 123

Fraud, 28, 372

Free market, x, 8, 140, 284

nature of 294-98

See also Laissez-Faire

Free-rider problem, 13, 15, 58

See also market failures

Freedom; See Liberty

Freedom of speech, xi, 373

Freedom of trade, xvi, 357

Full Employment Act of 1946, 97, 100

Game theory, 12-23

George Mason University, 100

German free trade movement, 341,42

German Free Trade Union, 343

Gold clause cases, 32, 35, 38, 41, 43

Gold confiscation, 35, 40, 41

Gold Reserve Act of 1934, 37-38

Gold standard; See Money

Göttingen, University of, 341-42.

Government; See State

Great Society, The, 307

Gresham’s Law, 33, 160-62

Guild system, 129

Hard money movement; See Money

Hermeneutics, 102

Historical entitlement, 247-64

equal distribution, 255

initial acquisition, 248, 252, 255-56, 258-59

title transfer, 256

voluntary transfer, 247, 249, 253

Historicism, 207-08, 346

History, philosophy of, xi, 91

Human Action, 56, 73, 107, 141, 159

Human nature, 61, 62, 229, 234, 240

Imputation 45, 46

See also Value

Index numbers, 105

Indifference curves 103, 104-05

Individualism, methodological, xiii, xiv, 78-82, 140, 359-60

Industrial Revolution, 142

Inflation; See Money

Inflation Survival Letter, 164, 165

Interest, 44-55

rates of, ix, 46, 47, 50, 51, 52, 140, 154

time-preference theory of, ix, xv, 45, 44-55, 359

waiting theory of; abstinence theory of, xv, 49-54

International Monetary Fund (IMF), 141

Intervention

autistic, xi, 147

binary, xi, 147

economic, xi, xiv, xvi, 23, 56, 90, 121, 144, 401

Investment

malinvestment, ix, 155, 168, 170

Isolationism, 337-39, 340

Is-Ought question, 67

Jazz, xviii, 393, 395-97, 398

Jews, 229-30

Justice, 128, 136, 204

distributive, 247-48, 258

redistribution, xvi, 13, 68, 71

Justification, 64, 65, 67

Keynesian school of economics, x, xi, xiii, 96, 97, 99, 100, 107, 141-42, 165, 357, 392

See also Keynes, John Maynard

Knowledge; information, 111, 117, 118, 122

Kondratieff wave theory, 166, 167

See also Kondratieff, Nikolai D.

Labor, 46, 130, 249-51, 256-57, 271, 338

Labor unions, 142, 144

collective bargaining, 142

Laissez faire, xii, xiii, xvi, 56, 60, 144-45, 237, 294-98, 357-69, 341

Land, 46

redistribution of, xii

Law, 124, 128, 205, 239

Law enforcement, 56, 58, 60, 73, 222, 237, 239, 289

See also Police; Order

Legal tender cases, 32, 34-35, 42

Leisure, 57, 305-06

Liberalism, classical, 207, 211, 346

libertarianism, xiii, xvi, 61, 62, 68, 69, 72, 197, 199-203, 206-07, 209, 211, 236, 237, 276, 293, 329, 341, 346, 368

Libertarianism; See Liberalism, classical

Libertarian Forum, xvii, 383, 393

Libertarian Party, 393, 394

Liberty; freedom, xiii, xvi, 7, 73, 195, 208, 217, 224, 237, 249, 293-94, 398

Science of, ix, xii, 44-45

See also Economic liberty; Freedom of speech; Freedom of trade

Lifeboat situations, xii

Local Government Antitrust Act of 1984, 11

Lockean proviso, 250, 252, 256, 257, 259

Marginal analysis, 279

Market failures 4, 5, 16

market imperfections, 4, 14, 16, 57, 58, 115

Market process, x, xiv, 5, 119, 120

Marxism, 92, 100, 101, 207, 362-64, 367, 375

See also Marx, Karl; Socialism

Mathematics, use of in economics, xiii, 89, 93-94, 156

Methodology, 90, 124, 357, 361

Militia, citizens’, 342

Military expenditures, 108, 342

Minimum wage, xi, 138, 143

Mises Institute, xviii, 399

Mobility, 136

Monetarism, 101, 102, 108, 155

See also Chicago school of economics

Monetary institutions, 145

Monetary Control Act of 1980, 166

Money, xvii

debasement of currency, 36

deflation, 37, 164

flat currency, xv, 32-35, 42, 155, 169, 171, 332

gold standard, ix, xv, xvi, xvii, 32-43, 141, 145, 160, 165, 393

hard-money movement, xvii, 102, 151, 159-60, 163-64, 169

history of, xi,

inflation, 38, 45, 105, 140-41, 154, 160, 166, 169, 170, 332, 363

neutral, 107, 155

quantity theory of, 155

Monopoly, x, xiv-xv, 3-11, 56, 118, 119, 124, 289, 401

See also Economic calculation

Mont Pelerin Society, 401

Moral perfection, 197, 204-05, 209

Morality; See Ethics

National defense, 275

National Book Foundation (NBF), 353

National Labor Relations Act; Wagner Act, 138

National Review, xi, 395

National War Labor Board, 132

Natural law; See Rights

Natural resources, xvi, 71

Natural rights; See Rights

Neo-classical economics, x, xi, 42, 97, 118

New Deal, xi, 323, 330, 331, 395

Nobel Prize, 89-109

Non-aggression principle, 64, 66, 67, 68

non-violence, 376

See also Aggression

Objectivity, scientific; value freedom;

Wertfreiheit, xiii, 59, 62

Opportunity cost, 113, 116, 117, 121

See also Subjectivism Oligarchy, 270, 272, 310-11, 315-17

Organic society, 134

Pareto optimality, 79-81, 82, 83, 175, 87

Parker Doctrine, 10

Parker v. Brown, 10

Paternalism, 13, 68, 135

Pauperism; poor; poverty, xii, 61, 307, 323, 342, 343, 348, 351

War on Poverty, 307

Persuasion, 197, 289

Physiocratic school of economics, 46

Planning, central, x, 102, 130, 136, 278

Pluralism, 314, 321

Police; Governmental, 76

Private, xii, 275, 287, 290

See also Law enforcement

Political action, xvii, 394

Pollution, xii, 114

Polytechnic Institute of Brooklyn;

Polytechnic Institute of New York, 100, 145

Poor; See Pauperism Populism, 210

Poverty; See Pauperism

Power; See Coercion

Praxeology; human action, science of, x, xvii, 74, 90, 96, 117, 103

Preference, demonstrated, x, xiv

Price-fixing; predatory practices, 6, 9

Prices, ix, x, 50

free market, 8, 57

marginal cost pricing, 8

Monopoly, x, 7-10, 56-57

Pricing, competitive, 8

Prisoner’s dilemma, 12-23

See also Game theory

Production; factors of, 45-46, 130, 261

theory of, 112

Productivity, 52, 53

marginal value of, 46

Progressive Party, 347

Progressive era, xi, 91, 322

Prussia, 341, 342

Public choice school of economics, 123, 290, 359

See also Buchanan, James M.

Public goods, xvi, 15, 17, 23, 56, 58, 59, 60, 73, 123

Public policy, xvii, 3, 4, 110-21, 242, 245

Psychiatry, 374

Quotas; affirmative action, 132

Rational expectations school of economics, 96

Rationalism, 61, 62

Realism, 208, 215

Reason, 206-10

Rent control, xi

Relativism, 374

See also skepticism

Research, 115, 116, 123

Revisionism, historical, xi, 42, 90, 145, 160, 361, 363, 366

Rights

children’s, xii

coherence, 253-55, 259, 263, 264

individual, 202-03, 214, 254, 271

natural (or law), xvi, xvii, 61, 62, 74, 102, 134, 208, 211, 229-34, 236, 247, 245, 369-71, 373

of privacy, 372

property, xi, xvi, 16, 61-72, 75, 76, 215-16, 221, 239, 371-73

welfare, 238

Risk, 122, 176, 178, 182-83, 357-58

Romantic movement, 214

Roads, private, xii, 275

Ruling elite; See Oligarchy

Savings, ix

Scarcity, 75, 297

Search and seizure, 372

Secession, 375

Self-perfection, 197, 204-06, 209, 210

Self-ownership, 64, 72, 239, 283

Skepticism, 205-06, 231, 234, 241

Slavery, 273

Social contract, 15, 17, 219, 239

Social Contract, The; See Rousseau, Jean-Jacques

Social cooperation, 189, 239, 241

Social cost, 114, 116, 123, 360

Social philosophy, 236

Social order, 198, 209, 212, 222

Socialism, 71, 347, 376

economics of, xi

See also Economic calculation; Marxism

Society, 79, 196, 270, 284

State

government, xiii, xiv, xvi, 12-23, 32, 56, 58, 59, 60, 73, 90, 91, 197-200, 202, 205, 211, 217, 222-26, 236, 259, 277, 308, 314, 330, 356, 360

limited, 239

nature of, 298-308, 373

failure of, 14, 278

Stoics, 371

Subjectivism, 79, 184, 286, 358

subjective preference, 176

subjective utility, xiv, xvi, 9, 21, 56, 102, 105, 111, 113, 117, 120, 122, 123, 129

Supreme Court, 32, 34, 39, 41, 375

Hepburn v. Griswold (1870), 34

Julliard v. Greenman (1884), 35

Knox v. Lee (1871), 34

Norman v. Baltimore & Ohio Railroad Co. (1935), 39, 41

Nortz v. United States (1935), 39-40

Perry v. United States (1935), 39, 40, 41

Veazie Bank v. Fenno (1869), 34

Surplus value; See Value

Tariffs, 104

Taxation, xii, xiii, 13, 15, 56, 71, 73, 91, 104, 116, 124, 188, 238, 273, 290, 310, 343

income tax, xi

sales, 104

tax on site value, 104

Teleological eudaimonistic framework, 195, 209

Tort liability, 16

Trade cycle, ix, xvii, 107, 141, 145, 146, 154, 160, 165, 167, 168, 357

Great Depression, 35, 160, 166

Transaction costs, 12-23, 111

Uncertainty, 111, 117, 120, 122, 123

Unemployment, theory of, 143

Union of Soviet Socialist Republics, 276, 316, 400

Union for Radical Political Economics, 100

United States of America

Articles of Confederation, 33

Bill of Rights, 120

See also American history

U.S. Constitution, xvi, 32-43, 239, 359, 362-63, 375

Fifth Amendment, 39

First Amendment, 120

Tenth Amendment to, 33

U.S. Gold Commission, 41, 332

U.S. Mint, 32, 161

Universalizability, 63, 68, 69, 74, 207

University of Nevada, 145

University of Vienna, 101

Utilitarianism, 38, 60, 61, 102, 188, 242, 244, 341

Utility, x, xiii, xiv, 9, 103, 146, 175, 177, 179, 180, 183, 295-96, 297, 301, 318

average, 176-77, 189

cardinal, xiii, xiv, 9, 185, 299

interpersonal comparisons, 105, 114, 120, 131, 178, 302-03

law of marginal, 79, 300-01

Water-Diamond paradox, 129

measurable, 184, 187, 299

ordinal, xiii, 298

public, 223

social utility, xiv, 4, 9, 17, 18, 61, 103, 105, 109, 124, 198, 294, 295, 298, 299, 303-05, 308-10

utility and welfare theory, 146

Utopia, 335-340

Value, in economics, 46-47, 52, 69-71, 111

intrinsic; objective, 129

labor theory of, 129, 130

marginal utility theory of, 129, 130

surplus value, 46-47, 48

theory of, 257

von Neumann-Morgenstern utility function, 183-85, 189

See also Marginal value; Subjectivism

Versailles, Treaty of, 365-66

Vietnam war, 395

Virtue, xvi

Collectivist perspective on, 200, 202

See also Ethics

Volker Fund, 100, 145, 352-53, 365

Voluntarism, 284, 291

Voucher system, 277

Wages, xvi, 125-138, 341

discrimination, 126, 127, 133-34

Watergate, 329, 390

Wealth, 78, 312

redistribution of wealth, 302-03

transfer, 302, 309

Welfare; consumer, 7, 146

social, 6, 181, 186, 245, 252, 257, 360

Welfare Economics, x, 77-88, 114, 122, 123, 124, 175

Will

free, 374

general, 214-226

Wiretapping, 372

Women, 125-38

World Bank, 141

World Market Perspective, 165

World War I, xi

World War II, 132, 229-30, 366