Human Action Scholars Edition

Title Page......Page 1
Introduction to the Scholar\'s Edition......Page 3
Foreword......Page 23
Contents......Page 25
1.Economics and Praxeology......Page 37
2.The Epistemological Problem......Page 40
3.Economic Theory......Page 43
4.Resume......Page 46
1.Purposeful Action and the Animal Reaction......Page 47
2. The Prerequisites of Human Action......Page 49
On Happiness......Page 50
On Instincts and Impulses......Page 51
3. Human Action as an Ultimate Given......Page 53
4. Rationality and Irrationality......Page 54
5. Causality as a Requirement of Action......Page 58
6. The Alter Ego......Page 59
1.Praxeology and History......Page 66
2. The Formal and Aprioristic Charecter of Praxeology......Page 68
3. The A Priori and Reality......Page 74
4.The Principle of Methodological Individualism......Page 77
5. The Principle of Methodological Singularism......Page 80
6. The Individual and Changing Features of Human Action......Page 82
7.The Scope and the Specific Method of History......Page 83
8. Conception and Understanding......Page 87
9.On Ideal Types......Page 95
10.The Procedure of Economics......Page 100
11.The Limitations on Praxeological Concepts......Page 105
1.The Revolt Against Reason......Page 108
2.The Logical Aspect of Polylogism......Page 111
3.The Praxeological Aspect of Polylogism......Page 113
4.Racial Polylogism......Page 120
5.Polylogism and Understanding......Page 123
6.The Case for Reason......Page 125
1.Ends and Means......Page 128
2.The Scale of Value......Page 130
3.The Scale of Needs......Page 132
4.Action as an Exchange......Page 133
1.The Temporal Character of Praxeology......Page 135
2.Past, Present, and Future......Page 136
3.The Economization of Time......Page 137
4.The Temporal Relation Between Actions......Page 138
1.Uncertainty and Acting......Page 141
2.Meaning and Probability......Page 142
3.Class Probability......Page 143
4.Case Probability......Page 146
5.Numerical Evaluation of Case Probability......Page 149
6.Betting, Gambling, and Playing Games......Page 151
7.Praxeological Prediction......Page 153
1.The Law of Marginal Utility......Page 155
2.The Law of Returns......Page 163
3.Human Labor as a Means......Page 167
4.Production......Page 176
1.Human Cooperation......Page 179
2.A Critique of the Holistic and Metaphysical View of Society......Page 181
3.The Division of Labor......Page 193
4.The Ricardian Law of Association......Page 194
5.The Effects of the Division of Labor......Page 199
6.The Individual Within Society......Page 200
7.The Great Society......Page 204
8.The Instinct of Aggression and Destruction......Page 205
1.Human Reason......Page 213
2.World View and Ideology......Page 214
3.Might......Page 224
4.Meliorism and the Idea of Progress......Page 228
1.Autistic Exchange and Interpersonal Exchange......Page 231
2.Contractual Bonds and Hegemonic Bonds......Page 232
3.Calculative Action......Page 235
1.The Gradation of the Means......Page 237
2.The Barter-Fiction of the Elmentary Theory......Page 238
3.The Problem of Economic Calculation......Page 243
4.Economic Calculation and the Market......Page 246
1.The Character of  Monetary Entries......Page 249
2.The Limits of Economic Calculation......Page 251
3.The Changeability of Prices......Page 254
4.Stabilization......Page 256
5.The Root of the Stabilization Idea......Page 261
1.Monetary Calculation as a Method of Thinking......Page 266
2.Economic Calculation and the Science of Human Action......Page 268
1.The Delimination of Catallactic Problems......Page 269
2.The Method of Imaginary Constructions......Page 273
3.The Pure Market Economy......Page 274
4.The Autistic Economy......Page 280
5.The State of Rest and the Evenly Rotating Economy......Page 281
6.The Stationary Economy......Page 287
7.The Integration of Catallactic Functions......Page 288
1.The Characteristics of the Market Economy......Page 294
2.Capital......Page 296
3.Capitalism......Page 300
4.The Sovereignty of the Consumers......Page 306
5.Competition......Page 309
6.Freedom......Page 315
7.Inequality of Wealth and Income......Page 321
8.Entrepreneurial Profit and Loss......Page 322
9.Entrepreneurial Profits and Losses in a Progressing Economy......Page 328
10.Promoters, Managers, Technicians and Bureaucrats......Page 336
11.The Selective Process......Page 344
12.The Individual and the Market......Page 347
13.Business Propoganda......Page 352
14. The \"Volkswirtschaft\"......Page 355
1.The Pricing Process......Page 360
2.Valuation and Appraisement......Page 364
3.The Prices of the Goods of Higher Orders......Page 366
4.Cost Accounting......Page 372
5.Logical Catallactics......Page 383
6.Monopoly Prices......Page 390
7.Good Will......Page 412
8.Monopoly of Demand......Page 416
9.Consumption as Affected by Monopoly Prices......Page 417
10.Price Determination on the Part of the Seller......Page 421
12.The Connexity of Prices......Page 424
13.Prices and Income......Page 426
14.Prices and Production......Page 427
15.The Chimera of Nonmarket Prices......Page 428
2.Observations on Some Widespread Errors......Page 431
3.Demand for Money and Supply of Money......Page 434
4.The Determination of the Purchasing Power of Money......Page 441
5.The Problem of Hume and Mill......Page 449
6.Cash-Induced and Goods-Induced Changes......Page 452
7.Monetary Calculation and Changes......Page 457
8.The Anticipation of Expected Changes......Page 459
9.The Specific Value of Money......Page 461
10.The Import of the Money Relation......Page 463
11.The Money Substitutes......Page 465
12.The Limitation on the Issuance of Fiduciary Media......Page 467
13.The Size and Composition of Cash Holdings......Page 481
14.Balances of Payments......Page 483
15.Interlocal Exchange Rates......Page 485
16.Interest Rates and the Money Relation......Page 491
17.Secondary Media of Exchange......Page 495
18.The Inflationist View of History......Page 499
19.The Gold Standard......Page 504
1.Perspective in the Valuation of Time Periods......Page 512
2.Time Preference as an Essential Requisite......Page 516
3.Capital Goods......Page 523
4.Period of Production......Page 526
5.The Convertability of Capital Goods......Page 535
6.The Influence of the Past Upon Action......Page 538
7.Accumulation, Maintenance and Consumption of Capital......Page 547
8.The Mobility of the Investor......Page 550
9.Money and Capital;......Page 553
1.The Phenomenon of Interest......Page 557
2.Originary Interest......Page 559
3.The Height of Interest Rates......Page 565
4.Originary Interst in the Changing Economy......Page 567
5.The Computation of Interest......Page 569
1.The Problems......Page 571
2.The Entrepreneurial Component......Page 572
3.The Price Premium......Page 574
4.The Loan Market......Page 578
5.The Effects of Changes in the Money Relation......Page 581
6.The Gross Market Rate......Page 583
7.The Gross Market Rate of Interest as Affected by Deflation......Page 600
8.The Monetary or Circulation Credit Theory......Page 604
9.The Market Economy as Affected by the Recurrence of the Trade Cycle......Page 609
1.Introversive Labor and Extroversive Labor......Page 620
2.Joy and Tedium of Labor......Page 621
3.Wages......Page 625
4.Catallactic Unemployment......Page 631
5.Gross Wage Rates......Page 634
6.Wages and Subsistence......Page 636
7.The Supply of Labor......Page 642
8.Wage Rates as Affected by the Vicissitudes of the Market......Page 655
9. The Labor Market......Page 656
1.General Observations Concerning the Theory of Rent......Page 667
2.The Time Factor in Land Utilization......Page 670
3.The Submarginal Land......Page 672
4.The Land as Standing Room......Page 674
5.The Prices of Land......Page 675
1.The Theory and the Data......Page 678
2.The Rule of Power......Page 679
3.The Historical Role of War and Conquest......Page 681
4.Real Man as a Datum......Page 682
5.The Period of Adjustment......Page 684
6.The Limits of Property Rights and the Problems of External Costs......Page 686
1.The Ultimate Source of Profit and Loss......Page 696
2.The Limitation of Offspring......Page 699
3.The Harmony of the \"Rightly Understood\" Interests......Page 705
4.Private Property......Page 714
5.The Conflicts of Our Age......Page 716
1.The Historical Origin of the Socialist Idea......Page 721
2.The Socialist Doctrine......Page 725
1.The Problem......Page 730
2.Past Failures......Page 733
3.Recent Suggestions......Page 735
4.Trial and Error......Page 736
5.The Quasi-Market......Page 737
6.The Differential Equations of Mathematical Economics......Page 742
1.The Idea of a Third System......Page 748
2.The Intervention......Page 749
3.The Delimitation of Governmental Functions......Page 751
4.Righteousness as the Ultimate Standard......Page 755
5.The Meaning of Laissez Faire......Page 761
6.Direct Government Interference with Consumption......Page 763
1.The Neutral Tax......Page 766
2.The Total Tax......Page 767
3.Fiscal and Nonfiscal Objectives of Taxation......Page 769
4.The Three Classes of Tax Interventionism......Page 770
1.The Nature of Restriction......Page 772
2.The Prize of Restriction......Page 773
3.Restriction as a Privilege......Page 777
4.Restriction as an Economic System......Page 785
1.The Government and the Autonomy of the Market......Page 788
2.The Market\'s Reaction to Government Interference......Page 792
3.Minimum Wage Rates......Page 799
1.The Government and the Currency......Page 810
2.The Interventionist Aspect of Legal Tender Legislation......Page 813
3.The Evolution of Modern Methods of Currency Manipulation......Page 816
4.The Objectives of Currency Devaluation......Page 819
5.Credit Expansion......Page 823
6.Foreign Exchange Control......Page 830
1.The Philosophy of Confiscation......Page 836
2.Land Reform......Page 837
3.Confiscatory Taxation......Page 838
1.The Syndicalist Idea......Page 844
2.The Fallacies of Syndicalism......Page 845
3.Syndicalist Elements in Popular Policies......Page 847
4.Guild Socialism and Corporativism......Page 848
1.Total War......Page 853
2.War and the Market Economy......Page 857
3.War and Autarky......Page 860
4.The Futility of War......Page 863
1.The Case Against the Market Economy......Page 865
2.Poverty......Page 867
3.Inequality......Page 872
4.Insecurity......Page 883
5.Social Justice......Page 885
2.The Exhaustion of the Reserve Fund......Page 887
3.The End of Interventionism......Page 890
1.The Singularity of Economics......Page 894
2.Economics and Public Opinion......Page 895
3.The Illusion of the Old Liberals......Page 896
1.The Study of Economics......Page 899
2.Economics as a Profession......Page 901
3.Forecasting as a Profession......Page 902
4.Economics and the Universities......Page 904
5.General Education and Economics......Page 908
6.Economics and the Citizen......Page 910
7.Economics and Freedom......Page 911
1.Science and Life......Page 913
2.Economics and Judgments of Value......Page 915
3.Economic Cognition and Human Action......Page 917
Index......Page 919