Del Mastro: I'd say it differently. Relative prices are information, not necessarily truthful information, but information about which one should have no moral judgement. But price time quantity when transacted produces a flow of income from one person to another. About this it IS permissible to form a moral judgement. If Conservatives o…
Del Mastro: I'd say it differently. Relative prices are information, not necessarily truthful information, but information about which one should have no moral judgement. But price time quantity when transacted produces a flow of income from one person to another. About this it IS permissible to form a moral judgement. If Conservatives overlook the income transfer, Progressives overlook the information content. Thus, the need for the "shotgun marriage" of Hayek and Polanyi. Now they have not only been through a nasty divorce but are trying to kill each other.
Del Mastro: I'd say it differently. Relative prices are information, not necessarily truthful information, but information about which one should have no moral judgement. But price time quantity when transacted produces a flow of income from one person to another. About this it IS permissible to form a moral judgement. If Conservatives overlook the income transfer, Progressives overlook the information content. Thus, the need for the "shotgun marriage" of Hayek and Polanyi. Now they have not only been through a nasty divorce but are trying to kill each other.