This article describes the argumentative structure of Hayek on the relationship between power to tax and redistribution. It is observed throughout its work giving special attention to two works: The Constitution of Liberty (1959) and Law, Legislation and Liberty, vol3, The Political Order of...

This article addresses the question of whether sanctions constitute violence in the broad sense of that term, and whether, and under what conditions, sanctions can be justified. The sanctions imposed against Iraq and Cuba are discussed as case studies and several ethical theories are applied to...

Frédéric Bastiat (1801-1850) was an economist and journalist. A member of the French Liberal School, he is best known for his free trade ideas and his philosophy of law. Mark Blaug ranks him as one of the 100 greatest economists before Keynes. Schumpeter called him a brilliant economic...

Keynes is back. President Obama's economic stimulus package is based on the premise that we can spend our way out of recession. It is an application of the Keynesian multiplier theory, which was expounded in Keynes' 1936 economic treatise, The General Theory of Employment, Interest and Money....

Probability theory has a central role in Edgeworth's thought; this paper examines the philosophical foundation of the theory. Starting from a frequentist position, Edgeworth introduced some innovations on the definition of primitive probabilities. He distinguished between primitive probabilities...

For most economists at Chicago, Marshall was simply an input, the supplier of an approach to economic analysis. For Ronald Coase, however, Marshall was much more than this — a subject of fascination and, at times, almost a reverence and obsession. Trained in the late 1920s and early 1930s at...

This essay is a response to five essays that collectively constituted a symposium sponsored by Studies in Emergent Order on my 2010 book, Mind, Society, and Human Action: Time and Knowledge in a Theory of Social Economy. This essay offers individual reactions to each of the five contributors...

Critical reflection concerning the tension existing between developing the body of economic knowledge in the image of mathematics led to discovering a double epistemological rupture in developing economic theory. The first, in the mid nineteenth century, recognised mathematics as being the...

This paper examines how some of the main exponents of the Austrian school of economics addressed the issues related to the measurability of utility. The first part is devoted to the period before World War I. During this period, Menger and Wieser treated de facto utilities as if they were...

Starting from Schumpeter.s important distinction between .real analysis. and .monetary analysis., in this paper it is shown that major elements of Marx.s economic theory fall in the camp of monetary analysis and the implications for Marx.s theory of capital accumulation are derived. First,...