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analysis Austrian School bank became Böhm-Bawerk capital Carl Menger central champions correspondence currency discussion Duncker & Humblot economic calculation economic science economic theory economists empire entrepreneurs Eugen von Böhm-Bawerk eventually exchange F.A. Hayek fact files finance foreign Friedrich von Wieser Galicia German Grove City Archive Gustav Fischer Hayek Hazlitt Human Action ideas impact important individual inflation Institute intellectual interest interventionism Jewish Kammer Karl Keynes labor later lecture letter dated liberalism libertarian Ludwig von Mises Machlup Margit ment Mises Archive Mises argued Mises’s monetary Money and Credit Montes de Oca Nation Nationalökonomie nomic Nymeyer October Philippovich political position praxeology Press problems production professor published Robbins Rothbard Schumpeter seminar Sennholz social socialist society Staat und Wirtschaft Theory of Money tion University of Vienna value theory Verein für Socialpolitik Vereins für Sozialpolitik Walras Weber wrote York
Page 1041 - Oh! not of him, but of our joy: 'tis nought That ages, empires, and religions there Lie buried in the ravage they have wrought; For such as he can lend, — they borrow not Glory from those who made the world their prey; And he is gathered to the kings of thought Who waged contention with their time's decay, And of the past are all that cannot pass away.
Page 408 - They are led by an invisible hand to make nearly the same distribution of the necessaries of life which would have been made had the earth been divided into equal portions among all its inhabitants ; and thus, without intending it, without knowing it, advance the interest of the society and afford means to the multiplication of the species.
Page 307 - It is thus that every system which endeavours, either, by extraordinary encouragements, to draw towards a particular species of industry a greater share of the capital of the society than what would naturally go to it; or, by extraordinary restraints, to force from a particular species of industry some share of the capital which would otherwise be employed in it, is in reality subversive of the great purpose which it means to promote.
Page 709 - There is no reason to assume that the historically given legal institutions are necessarily the most " natural " in any sense. The recognition of the principle of private property does not by any means necessarily imply that the particular delimitation of the contents of this right as determined by the existing laws are the most appropriate. The question as to which is the most appropriate permanent framework which will secure the smoothest and most efficient working of competition is of the greatest...
Page 993 - is the tacit acknowledgement that all that is finally important in human experience is behind us, that the crucial explorations have been undertaken, and that it is given to man to know what are the great truths that emerged from them
Page 715 - Nevertheless the theory of output as a whole, which is what the following book purports to provide, is much more easily adapted to the conditions of a totalitarian state...
Page 1045 - The body of economic knowledge is an essential element in the structure of human civilization; it is the foundation upon which modern industrialism and all the moral, intellectual, technological, and therapeutical achievements of the last centuries have been built. It rests with men whether they will make the proper use of the rich treasure with which this knowledge provides them or whether they will leave it unused. But if they fail to take the best advantage of it and disregard its teachings and...
Page 394 - Nothing is gained by assuming that, if only the problem of a nonmonetary economy were seriously enough attacked, a suitable accounting method would be discovered or invented. The problem is fundamental to any kind of complete socialization. We cannot speak of a rational "planned economy" so long as in this decisive respect we have no instrument for elaborating a rational "plan.
Page 671 - The science of human action that strives for universally valid knowledge is the theoretical system whose hitherto best elaborated branch is economics. In all of its branches this science is a priori, not empirical. Like logic and mathematics, it is not derived from experience; it is prior to experience. It is, as it were, the logic of action and deed.