Category Archives: Economics
A new paper from Herbert Gintis (pdf).
From the Wikipedia entry for “Pigovian Tax”: A Pigovian tax is considered one of the “traditional” means of bringing a modicum of market forces, and thus better market efficiency, to economic situations where externality problems exist. More recently, particularly in … Continue reading
In my first two Hayek Seminar postings I highlighted the fact that for Hayek the empirical character of economics science begins with empirical problems in our experience. We witness a constantly repeated pattern in which prices “tend” toward costs. Alternatively, … Continue reading