Psychology Dictionary of ArgumentsHome
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| Geographical factors: Geographical factors refer to natural elements shaping a region's characteristics, including terrain, climate, soil, and water sources. These factors influence human activities, settlement patterns, agriculture, and economic development. See also Economic development, Developing countries. _____________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 Geographical Factors - Dictionary of Arguments
Rothbard III 818 Geographic factors/purchasing power/Rothbard: The price of any commodity tends to be the same throughout the entire area using it. We have seen that this rule is not violated by the fact that cotton in Georgia, for example, is priced Iower than cotton in New York. When cotton in New York is a consumers' good, cotton in Georgia is a capital good in relation to the former. Cotton in Georgia is not the same commodity as cotton in New York because goods must first be processed in one location and then transported to the places where they are consumed. Money: Money is no exception to the rule that the price of every commodity will tend to be uniform throughout the entire area in which it is used. In fact, the scope for the money commodity is broader. Purchasing power: The purchasing power of money will therefore be identical over the entire area. Should the PPM (purchasing power per monetary unit) be Iower in New York than in Detroit, the supply of money for the exchange of goods will diminish in New York and increase in Detroit. Rothbard III 819 Price: Prices of goods being higher in New York than in Detroit, People will spend less in New York and more in Detroit than heretofore, this shift being reflected in the movement of money. This action will tend to raise the purchasing power of money in New York and Iower it in Detroit, until its purchasing power in the two Places is equal. Purchasing power: The purchasing power of money will, in this way, tend to remain equal in all places where the money is used, whether or not national boundaries happen to intervene. >Geographical factors/Economic theories, >Exchange rates._____________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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> Counter arguments against Rothbard
> Counter arguments in relation to Geographical Factors
