The wealth effect and the law of demand: A comment on karl-friedrich israel
Karl-Friedrich Israel (2018) sees “obvious tension” in a book chapter (Salerno 2018) in which I argue that the Hicksian income effect plays no role in the causal-realist approach to the demand curve. Israel’s reconstructed “wealth effect” is an effort to solve this perceived problem. This comment ad...
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| Format: | Article |
| Language: | English |
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Ludwig Von Mises Institute
2019
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| Online Access: | View Fulltext in Publisher |