IndexAristotle, 28, 200, 204Assault on mind: by distraction,217, 287; by obfuscation, 217–18, 287; through corporate andgovernmental public relations,219–21; degradation of discourse,219; and circularity, 221–25; on democracy-market-systemconnection, 232Bacon, Francis: on “idols,” 22Barter, 54–55Behavior pattern, market systemas, 39–40Black markets, 51, 181Broadcasting, 213Burdens: defined, 127; and costs,128–29. See also CostCapital: markets for, 6; and “capitalism,”9, 57; creation of, 39,141; corporate accumulation of,63Carnegie, Andrew, 140Central planning: abandonment ofconventional, 1; history, 6; withand without efficiency prices, 7,269, 271; “indicative,” 229; inboth market and nonmarket systems,267–68; scope of, 268;through subsidies and taxes, 270;market system as instrument of,270–71; through sequential decisions,272; in household, 272–73Circularity: and inefficiency, 212;in market, 212, 214–16; inpolity, 221–25; in history ofthought, 222Civil society, 104–6Coincidence, first and second,54–56Collectives, corporations as,57–58Commercialism, 198–99Communist systems: abandoningplanning, 1; gangsterism, 2; marketsin, 4, 48, 271; black marketsin, 51; income distribution in,122; allocative inefficiency in,126, 138; spillovers in, 152; freedomsin, 181–82; personal relationshipsin, 202; degradation ofwork in, 204; ethics in, 204Competition, 40, 69, 156. See alsoMonopoly“Competition of ideas,” 212, 222,223Compulsions: in spillovers, 186; intransaction termination, 186; towork, 186–87; in inequality,187–88; of ignorance and irrationality,188–90; in sales promotion,189. See also Freedom;VoluntarismConflict: as source of coordination,20; versus trade, 47; of classes,48; in labor relations, 68–69. Seealso ElitesConsumer free choice: defined,181; in communist systems,181–82; in democratic centralplanning, 182; market systemnot required for, 182; contrastedwith consumer sovereignty,182–83; and freedom, 183–84; inall central planning, 265–66
292 IndexControl: in market system, 7–8; byinducement, 7–8; by command,7, 77–78; in mutual adjustment,24–25; for coordination, 20; overresult or over process, 71; definesmarket-system domain, 90–91;of consumers by market elites,213–14; through communications,213–14Cooperation: as coordination, 20;through control, 20; scope, 20–22; defined, 21; rooted in conflict,22–23; illustrated, 36–43Coordination: and social order, 19–20; without a coordinator (seeMutual adjustment); in face ofscarcity, 32–34. See alsoCooperation; PeacekeepingCost: defined, 128–29; moneycosts, 129; allocative efficiency,129; marginal, 131; prices asmeasure of, 132–34; and efficiencyprices, 134–39Darwin, Charles, 29Defining rules of market system,52–58Definition of market system, 4, 96,280Democracy: as popular controlover elites, 65, 234; versus marketcontrol over elites, 65–75,226; elite hostility to, 68–69;balloting compared with votingwith money, 71–75; and centralplanning, 182, 226; industrialdemocracy, 185; and competitionof ideas, 212, 222, 223; andpropaganda, 214; politics ashuckstering, 219; and circularity,221–25; exists only in marketsystems, 226; entrepreneurialsupport of minimal, 233–35;lacking for international organizations,241–42; appropriateconstituents, 242–44; within theenterprise, 242–44; privilegedpolitical position of marketelites, 246–50. See also Democracy,entrepreneurial obstaclesto; Democracy-market-systemconnectionDemocracy, entrepreneurial obstaclesto: corporate prerogatives,213; thwarts use of command,214; in history, 234–35, 236; inequality,236; enterprises asoversized citizens, 237–40;“public funds,” 238; corporationas fictitious person, 238–40;multinationals, 240, 248Democracy-market-system connection:in history, 226; nodemocratic states attempt todispense with market system,226–27; historical accident?227; dubious explanations, 227–28; not on Hayek’s “road to serfdom,”228; conformity of opinionon, 230–32; assault onmind, 232Democratic movement, in tandemwith movement to market system,10Depression and recession, 59–60Domain of market system: misconceptionsof, 85–89; definingconditions, 90–93; collectivepursuits, 93–95; free rider, 95;objections to market-system,97–101; available alternatives,102–6Durkheim, Émile, 127, 195Economists: failures in instruction,2; half blind to marketsystemdefects, 3; on scarcity,46; on spillovers, 150–51; ontransaction termination, 154; onprior determinations, 284; onequity versus efficiency, 284–85Efficiency: of various kinds, 123–
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