By Guinevere Liberty Nell (auth.)
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Additional resources for Austrian Theory and Economic Organization: Reaching Beyond Free Market Boundaries
1973. The Machinery of Freedom. Chicago: Open Court Press. Gwartney, James, Robert Lawson, and Joshua Hall. 2012. Economic Freedom of the World, 2012 Annual Report. Vancouver: Fraser Institute. Hayek, Friedrich A. 1948. Individualism and Economic Order. Chicago: University of Chicago Press. ———. 1967. Studies in Philosophy: Politics and Economics. London: Routledge and Kegan Paul. Holcombe, Randall G. 1994. The Economic Foundations of Government. New York: New York University Press. , and Benjamin Powell.
By dismissing preferred and pseudo-idleness as not legitimately unemployment (“mistaken as unemployment” in Hutt’s words [1997: 23]), the remaining case of price-driven idleness and the firm rejection of Keynesian analysis leaves Hutt himselff firmly in the naïve labor surplus view of unemployment. This is reinforced by Hutt’s comment that the idle resources he discusses “would be ‘fully employed’. . if there would be no advantage in attracting other resources to cooperate with it” (1997: 9); that is, if the labor market was in equilibrium.
Holcombe, Randall G. 1994. The Economic Foundations of Government. New York: New York University Press. , and Benjamin Powell. 2009. Housing America: Building Out of a Crisis. New Brunswick, NJ: Transaction. , and Samuel R. Staley. 2001. Smarter Growth: MarketBased Strategies for Land-Use Planning in the 21st Century. Westport, CT: Greenwood. Ikeda, Sanford. 1997. Dynamics of the Mixed Economy: Toward a Theory of Interventionism. London: Routledge. Jevons, William Stanley. 1875. Money and the Mechanism of Exchange.
Austrian Theory and Economic Organization: Reaching Beyond Free Market Boundaries by Guinevere Liberty Nell (auth.)