The Ricardian Law of Association is an under-appreciated element of 
Human Action. I would add that Mises critiqued Ricardo for 
overemphasizing real factors, as divided labor can only be 
coordinated through monetary calculation. This brief crtitique of 
Ricardo by Mises is critical to what Pat is saying. Mises (along with 
Lachmann and Schumpeter) stressed the importance of financial markets 
as a central coordinating mechanism in the capitalist system. 
competition in financial markets (stock exchanges, futures markets, 
credit markets) generates forward prices for capital labor and other 
commodities, and it is this pricing in financial markets that makes 
the partial coordination of specialized and divided labor possible. 
Hayek only hints at the central role of financial markets in 
capitalism, and modern Hayekians have generally overlooked (and are 
sometimes even hostile towards) this angle of Human Action.

Doug Mackenzie