The Non Sequitur of the Dependence Effect

Hayek for the 21st Century Lecture Series

Tags: Value and Exchange, Hayek

09/20/2026 David Gordon

Dr. David Gordon examines Hayek’s reply to Galbraith, “The Non Sequitur of the ‘Dependence Effect,’” showing why the claim that advertising-created wants are less “real” would, taken seriously, dismiss all of civilization — and why it conceals a dictatorial contempt for ordinary people’s choices.

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