Explain Hayek's Argument That "Justice Ruins the Market

question 54

Essay

Explain Hayek's argument that "justice ruins the market." What would Rawls say to Hayek? How would Kristol respond to Rawls? Finally, what would McEntee add?

---

Definitions:

Required Production

The quantity of goods or services that a company needs to produce within a specific timeframe to meet the demands of its customers.

Material Inventories

Stocks of raw materials, work-in-progress, and finished goods that are held for use in production or sale in the future.

Direct Materials Purchases

The total cost of raw materials bought that are directly incorporated into a finished product.

Ending Direct Materials

Ending Direct Materials refers to the value of raw materials that are still available for use in production at the end of an accounting period.