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Subject:
From:
David Mitch <[log in to unmask]>
Reply To:
Societies for the History of Economics <[log in to unmask]>
Date:
Tue, 15 Dec 2009 12:58:54 -0500
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One possible interpretation of Hayek's Edgeworth reference mentioned by
Hansjoerg Klausinger i.e. to Edgeworth II 60 is that the reference is to
page 60 of volume II of Edgeworth's _Papers relating to Political Economy_
published in 3 volumes by the Royal Economic Society in 1925. In my
reprint edition, p.60 of Vol.II is the last page of Edgeworth's article
"The Pure Theory of International Values."  While I can see no explicit
reference to the "time moment...problem,"  it does contain the following
passage to which Hayek was perhaps referring:

"With reference to the law of supply and demand thus conceived, they
rightly argue that bounty can never be beneficial to the community as a
whole (Theorie p.425). However, they miss Professor Marshall's conclusion
that  bounty attended with what we have called organic changes, bringing
the law of increasing returns into play, may be beneficial."

Just a guess.

David Mitch

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