Economics Dictionary of ArgumentsHome
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| Observation: detecting characteristics and behavior of objects by whatsoever contact with the object unlike conclusions from past processes or assumeded or imperceptible parts or hidden parameters. See also hidden variable, observation language, theories._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Murray N. Rothbard on Observation - Dictionary of Arguments
Rothbard III 645 Observation/economy/cartels/Rothbard: (…) in the case of a cartel, joint action is taken, not to increase effciency, but solely to increase income by restricting sales. Yet there is no way that an outside observer can distinguish between a "restrictive" and an effciency-increasing operation. In the first place, we must not think of the plant or factory as being the only productive factors the effciency of which can increase. >Production factors/Rothbard, >Cartels/Rothbard, >Mergers/Rothbard. Marketing, advertising, etc., are also factors of production; for "production" is not simply the physical transformation of a product, but also consists in transporting it and placing it into the hands ofusers. The latter implies the expenses of informing the user about the existence and nature of the product and of selling that product to him. Since a cartel always engages in joint marketing, who can deny that the cartel might render marketing more effcient? How, therefore, can this effciency be separated from the "restrictive" aspect of the operation? >Method, >Measurements. Rothbard III 648 Measuring: There can (…) be no separation of technological effciency from financial considerations. The only way that we can determine whether one product is more demanded than another, or one process more effcient than another, is through concrete actions of the free market. These considerations, incidentally, serve to refute the very popular distinction between "production for use" and "production for profit." In the first place, all production is for use; otherwise it would not take place._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
Rothbard II Murray N. Rothbard Classical Economics. An Austrian Perspective on the History of Economic Thought. Cheltenham, UK: Edward Elgar Publishing. Cheltenham 1995 Rothbard III Murray N. Rothbard Man, Economy and State with Power and Market. Study Edition Auburn, Alabama 1962, 1970, 2009 Rothbard IV Murray N. Rothbard The Essential von Mises Auburn, Alabama 1988 Rothbard V Murray N. Rothbard Power and Market: Government and the Economy Kansas City 1977 |
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