Monthly Archives: October 2012

Eamonn Butler on “Why Hayek Matters”

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Hayek on ‘neutral money’, long-term contracts, rigid prices, the structure of production & ideal monetary policy

From F. A. Hayek’s Prices and Production: “In order to preserve, in a money economy, the tendencies towards a stage of equilibrium which are described by general economic theory, it would be necessary to secure the existence of all the … Continue reading

Posted in long term contracts, Monetary Policy, rigid wages | 2 Comments