Unintended consequences anyone?
Peter is asked if this is an Adam Smith argument; he says it’s a free-market, Austrian argument.
March 27, 2009 – 10:14 pm
In response to Peter’s comment, this is probably one of the best articles on this topic–Society Without a State–and written by one of the greatest libertarian thinkers, Murray Rothbard. Here is an excerpt:
The basic point, however, is that the state is not needed to arrive at legal principles or their elaboration: indeed, much of the [...]
March 24, 2009 – 10:41 pm
I recently taught five classes on elasticity of demand to undergraduate students. Before I got to elasticity I wanted to get an idea of how much they knew already (they had two classes so far, taught from a neoclassical framework by another teacher).
I asked them what determines prices and what happens if there is a [...]
Dear readers:
I apologise for the lack of posts lately. I have been out of town at the Austrian Scholars Conference. I presented a paper with Mark Thornton on Richard Cantillon and how (we argue) Cantillon views entrepreneurship theory as leading to discovery of economic theory. It was a great conference although travel from OZ to [...]
