Quarterly Journal of Austrian Economics
Author:
Rodolfo Alejo Gonzalez
Online Publish Date:
Volume 3, No. 1 (Spring 2000) This note has shown that the possibility of the income effect of a price change is implied by the Misesian pure logic of choice. This note has not assumed that our individual must consume more than four loaves of bread to survive. No ad hoc assumption has been employed. Instead, the possibility of a backward
