Notes
Price, on a free market, is stabilized only when it has reached a point at which supply and demand are equal. It follows at once that every variation from this equilibrium point acts on supply or on demand in such a way that the price oscillates around the equilibrium point. A diagrammatic representation of this mechanism (in its simplest form) will help us to grasp the relationships involved:
Chapter VII: Rich and Poor
“La majestueuse égalite des lois, qui interdit au riche comme au pauvre de coucher sous les ponts, de mendier dans les rues et de voler du pain.”
ANATOLE FRANCE, Le Lys Rouge, VII
Notes
Chapter VIII: Disturbances of Economic Equilibrium
1. The Sources of Disturbance
Notes
Chapter IX: Structure of the Economy; Economics and the World Crisis
“It is a pity that the philosopher and the reformer cannot set up models of their republics and of their reforms, for it requires a high order of talent in philosophical speculation to be able to predict that such schemes will not work. On the other hand, it needs only a combination of boldness and enthusiasm to cause the more naive members of the public to barter their ancestral acres for a share of stock in the riches of the South Sea.”
G.CH. LICHTENBERG (1742-1799)
Notes
Index
Index of Persons
Akamatsu, K., 78
Amonn, A., 18, 40, 202, 203
Angeli, J. W., 181
Argentarius, 113
Arnold, 259
Barone, E., 176
Baudin, L., 111
Baykov, A., 204
Behrendt, R., 38
Benham, F. C, 201
Bentham, Jeremy, 245
Bergson, A., 260
Beveridge, W., 180
Binder, Paul, 230
Boarman, Patrick M., vii, x
Index of Subjects
Abstinence, theory of, 38
Academic labor market, 148
Acceleration principle, 212
Acropolis, 107
Adaptation, 218, 230
Advertising, 24, 64, 157, 207, 234
Agriculture, 12ff., 41, 53, 72ff., 77, 129, 133, 141, 147ff., 149, 177ff., 180, 248, 257
America, 24, 31, 54, 105ff., 128, 134, 148, 149, 160, 166, 179, 225, 248
Anarchy. 4ff.
Anglo-American: school, 17; economies, 225
