All Posts Tagged With: "market imbalance"
The Anatomy of Economic Advice, Part III
In the first article of this trilogy we explored some of the ambiguities and difficulties that surround the very idea of “economic advice” based on economic science. In the second article we set forth some of the basic foundations of economic science (with special reference to what the science can teach us about what we called the “benign” character of the spontaneous market process).
1Oct2006 | Israel M. Kirzner | 0 comments | ContinuedThe Anatomy of Economic Advice, Part II
How can positive science (consisting entirely of “is” statements) be translated into “ought” statements within the framework of economic understanding? In the first part of this series we drew attention to some of the paradoxes surrounding economic advice.
1Sep2006 | Israel M. Kirzner | 0 comments | Continued-
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