Wednesday, December 29, 2010

Conspicuous production!

Frances Woolley from the Canadian. That research group is looking at the end points of distribution, the household and the mining sector, essentially.

Hayek's spontaneous order deals with Uncle Milts snap back. This is theoretically simple in the middle of the distribution chain.  The real research is at the end points, mostly in the household sector.  At the end of distribution, production does not stop, just money, so we have to deal with a gift economy.  The gift economy is a trace of a very old economy, pre-monetary economy, captured in our holidays full of legends of benevolent kings, harvest festivals and so on.  I would start looking at the intervals between holidays and how that has changed over historical periods.

As they work the issue I will be clicking on that web site more often than not. 

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