Economics of the Free Society
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
Antiquity, 15
Apartment house, 180
Argentina, 56
Artist, 22, 24
Auction, 6
Austria, 160
Austrian school, 17ff.
Autarky, 52, 71, 168ff.
Automobile, 43
Balance: of trade, 74, 126, 170; of payments, 110, 115, 125ff., 139, 170
Bank: run on, 93; money, 90ff.; notes, 89; system, 90ff.
Banking School, 94ff. Bankruptcy, 235, 251
Barter, 45ff.
Barter terms of trade, 170, 182
Big business, 64, 77, 257ff.
Bilateral, 47, 74ff.
Bimetallism, 87
Births, 52ff., 62
Boom, 140, 210
Brazil, 145
Budget deficit, 103
Business cycle, 70, 92, 208ff.
Business principle, 20ff.
Capital: nature of, 38, 43, 130ff., 185ff., 203, 204ff., 212ff.; consumption of, 119, 132, 139; fixed, 131; formation of, 133, 139ff.; goods, 43, 70, 119, 204ff.; theory of, 139
Capitalism, 15, 28, 29, 34, 37, 61, 133, 145, 159, 222, 231ff.
Cartel, 165ff.
China, 70, 134, 203
Choice and limitation, 13ff., 26, 28
Christmas tree, 65, 76, 147
Circulating capital (see working capital)
Circular flow, 123
Civil servant, 119, 120, 151
Classical theory, 17ff.
Clearing system, 50ff.
Coins, 86ff
Collective economy, system of, 35ff., 119
Collective needs, 35ff., 39, 40
Collectivism (see also socialism), 88, 238ff.
Command economy, 240.
Commercialization, 23
Communism (see collectivism, socialism)
Comparative costs, 172ff., 182
Competition, 25, 69, 151, 153ff., 178ff., 236ff, 250ff.
Competitive price, 19
Complementary products, 167
Consumers: economic role of, 66ff., 237; surplus accruing to, 155; goods, 43, 119
Consumption economy, 25
Costs, 14, 18ff., 26., 34, 38ff., 134, 140ff., 150ff., 167
Credit: nature of, 113ff.; creation of, 90ff., 114, 140, 212; economy, 15; expansion, 90ff.; money, 90ff., 114; theory of, 114
Crisis, 64ff, 70ff., 123, 132
Currency: description of, 89, 111; reform, 114, 247
Currency School, 95
Custom-made, 15
Customer service, 24
Czechoslovakia, 101
Dedication, 20ff.
Deflation, 97ff., 124, 215, 226
Demand, 142ff., 175ff.
Demand deposits, 90ff.
Democracy, 204, 222
Depression: nature of, 208ff; secondary, 216, 229
Deproletarianization, 200, 220
Differential rent, 191, 206
Diminishing returns, law of, 135, 140ff.
Discount, 89, 113
Distribution: definition and role of, 123, 137, 183ff; theory of, 185ff., 201ff.
Division of labor: description of, 2, 41ff., 170ff., 181, 208ff.; horizontal, 43; vertical, 43
Dumping, 50
Economic: calculation, 194, 204; growth, 229; history, 15, 48, 52; policy, 222, 250ff., 260; spirit, 20ff., 37; stages, 15; structure, 23Iff.; system, 23Iff.
Economize, 7, 25
Economy: of acquisition, 25; of the bureaucrats, 240; of large space, 75
Education, 35
Egoism, 20ff.
Egypt, 61
Elasticity: of needs, 10; of supply and demand, 146ff., 154, 176ff.
Engel’s law, 10
England, 56
Entrepreneurs: function of, 135, 190ff., 214, 219, 235; profits of, 190, 203
Epidemics, 62
Equilibrium, 17, 95ff., 143, 208ff.
Ethics (see moral foundations)
Exchange: act of, 44ff.; control of, 31, 47, 75, 87, 103, 247; rate of, 103, 106ff., 115; value in, 89
Expansion, process of, 208ff.
Exploitation, 21ff., 205
Export industry, 125
External morality, 23
Family, 55, 256
Federal Reserve banks, 106, 112
Finance, science of, 35, 39ff.
Fish market, 149
Force, 20ff.
Forced saving, 140, 214ff.
Foreign trade (see international trade)
Foreign trade theory, 168ff., 180
France, 54, 128, 250
Free money doctrine, 114
Full employment, 212ff., 218ff 229
Germany, 56, 73ff., 93, 103ff., 106, 115, 126, 146, 151, 182, 246ff.
1948, 246ff.; social market economy, 249
Gold: bullion standard, 90, 114ff.; certificates, 112; coin system, 90; exchange standard, 114; gold standard, 49, 76, 90, 97ff., 102, 113
Goods, 7
Grain, 10, 73, 130, 147ff., 154, 177, 206
Great Depression, 125, 222-23, 250
Highways, 35
Household economy, 15
Housing, 197
Ideology, 23, 37, 75ff., 159, 237
Imperialism, 24, 37ff.
Imported inflation, 106, 115
Income: description of, 119ff., 243ff,; disposal of, 124, 208ff.; distribution of, 122, 183ff.; elasticity of demand, 150
Index numbers, 109, 116
India, 61, 98
Industry, 56, 73, 140ff.
Industrial division of labor, 44
Inflation, 87, 97ff., 109, 115ff., 222, 247ff.
Institutional prices, 33
Integration, 47, 52, 75ff.
Interest, 5, 7, 38, 188ff., 192ff., 203, 204ff.
Internal morality, 23
International law, 48ff.
International trade, 18, 19, 27ff., 47, 48, 56, 67, 125ff., 168ff., 180ff., 248
Interventionism, 250ff., 260
Interventions, conformable and non-conformable, 256
Investments, 187, 190, 208ff.
Invisible exports and imports, 169
Israel, 173, 182
Italy, 56, 160
Japan, 56, 61, 78, 101, 248
Joint demand, 167
Joint supply, 18, 166, 180
Juridical monopoly, 157
Keynesianism, 22Iff.
Labor: factor of production, 129; market for, 139, 149, 187; theory of value, 18ff.
Land, 129, 206ff.
Land speculation, 137
Lausanne school, 17
Law, 48, 51, 74, 75, 81, 111
Legal monopoly (see juridical monopoly)
Liberalism, 19, 69, 75, 221
Liquidity, 90ff., 97ff.
Location, economics of, 73ff.
Luxury, 10, 16
Machines, 42ff., 63ff., 67, 133, 140
Macroeconomics, 124ff.
Marginal: costs, 151; morality, 50; production, 150; productivity, 136, 202; utility, 6ff., 16ff.
Maria Theresa thaler, 112
Market: description of, 44, 142ff., 157; law of extent of, 53, 76; price, 33ff.
Markup, 122
Marxism, 18, 37ff. 252
Mass civilization, 57ff., 62ff., 71, 220, 256ff.
Mass production, 133ff., 140ff.
Material value (of money), 88
Mathematics, 17, 19
Mature economy, 229
Maximum prices, 6, 30ff, 144ff., 189
Mercantilism, 16
Metallism, 82
Methodological problems, 19, 261
Metropolis, 73, 195
Middle Ages, 15, 16, 23
Mining, 73, 121, 129
Minimum prices, 144
Monetary interpretation of history, 111
Monetary theory, 111
Money: economy, 15; functions of, 5, 44ff., 113ff.; market for, 91; value of (see purchasing power)
Monopoly,, 22ff., 153ff., 178ff., 259
Monopoly price, 18, 153ff., 236ff.
“Moonlighting,” 71
Moral foundations, 20ff., 37
Mortality rate, 53, 62
Movies. 169
Multilateral, 47, 74ff.
National income, 118ff., 137
National income accounting, 125
National wealth, 137
National Socialism, v-vi, 34, 103, 146, 151, 221, 247, 249
Natural economy, 15
Natural monopoly, 157
Need, 25ff., 84
“New economics,” 225
Non-competing groups, 139
Note-issuing banks, 89, 90ff., 113
Occupation authorities in Germany, 249
Opportunity cost, 38
Optimum: of population, 59ff; of production, 133ff., 140ff.
Over-investment, 213, 219
Overlapping phases, 54
Overpopulation, 59
Over-production, 70, 210ff.
Payment: means of, 81, 111; by weight, 88
Paper money, 89ff., 100ff.
Performance principle, 21, 236ff.
Physician, 22, 29, 67
Planned economy, 75, 194ff., 224, 238ff 259
Population, 52ff., 71, 76
Postage stamps, 45
Power, distribution of, 255
Precious metals, 86ff.
Price: differentiation, 156ff., 179; function of, 142ff.; formation of, 6ff., 18ff., 142ff.; level, 107ff.; system, 33ff.
Prices, flexibility of, 146ff.
Producers, 66
Producers’ goods, 43, 212
Producers’ surplus, 150
Production: analysis of, 25ff., 118ff 133ff.; factors of, 128ff., 185ff.; for the market, 15; for profit, 237; for use, 237; nonspecific means of, 39; specific means of, 39
Productivity, 48, 243
Profession, 22, 64
Profitability, principle of, 235ff.
Profiteering, 186
Profits, 190ff., 203
Proletariat, 78, 220, 233
Protective tariff, 172ff.
Public utilities, 179
Purchasing power: analysis of, 97ff., 107ff., 115-16; parities, 115; theory of wages, 202ff.
Quantity theory of money, 102, 116
Queue system, 28
Radio, 169
Railroad fares, 156ff.
Rare goods, 18, 120
Rarity, 8
Rationing system, 29, 39
Rent: control, 30, 46; forms of, 203; of land, 185ff 192ff., 206
Repressed inflation, 104, 115, 248
Retail trade, 157ff.
Ricksha coolies, 134, 203
Risk, 191, 203, 219
Russia, 29, 30, 34, 56, 104, 146, 151, 192, 204, 213, 241ff., 260
Saving, 38, 140, 205, 208ff.
Scandinavia, 199
Scarcity, 7, 13, 26ff., 120
Scarcity theory of money (see quantity theory)
Scholars, 22, 24
Schwabe’s law, 10
Self-financing, 140
Silver standard, 98
Social division of labor, 44ff.
Socialism (see also collectivism, command economy, planned economy), 4, 18, 25, 36, 44, 104ff., 132, 194ff., 204-05,209,214, 231ff., 247, 252
Soviet Union (see Russia)
Special interests, 66ff., 236
Speculation, 122, 137
Stabilization, 217ff.
State, 48ff., 236, 251
Stock exchange, 24, 137, 149, 236
Students, 35, 120
Subsidiary coin, 112
Subsistence fund, 130
Substitution, 133
Supply, 142ff., 175ff.
Surplus value theory, 18
Sweden, 104
Switzerland, 126, 169, 199
Synthetic products, 28
Taxes, 35, 200
Technical point of view, 27, 60
Technical principle, 27
Television, 169
Third road, 250ff., 261
Totalitarianism, 103, 238ff.
Trade, 121ff.
Trade name monopoly, 157
Transportation, 121, 168
Transport monopoly, 157
Transfer, problem of, 66ff.
Turkey, 65, 82
TVA, 254
Under-investment, 219ff.
Underdeveloped countries, 51, 54, 76
Underpopulation, 59
Unemployment, 70, 187, 208ff.
Unemployment assistance, 148
United States (see America)
Urban land rent, 195ff., 207
Valorization, 145
Value 6ff., 16ff.
Value, increase in, 196
Velocity of circulation of money, 116
Wages: analysis of, 185ff., 202; wages-fund, 199; inflation, 105; theory of, 202
Waiting, 130ff., 204ff.
Working capital, 132
World economy, 15, 16, 47, 74, 168ff.
