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?

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Definitions:

Bond Discount

The discrepancy between a bond's nominal value and its market price when it is traded at a price below its nominal value.

Expense Recognition Principle

An accounting guideline that dictates expenses to be recorded in the period they are incurred to generate revenue, ensuring accurate financial statements.

Historical Cost Principle

An accounting principle that states all assets should be recorded and accounted for based on their original purchase cost.

Discount on Bonds Payable

An amount by which a bond is sold below its face value, reflecting the difference between the market rate of interest and the bond's coupon rate.