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economics, the morality of market transactions, and policy issues. From the impact of governmental regulation to the role of …"Reflections on Ethics, Freedom, Welfare Economics, Policy, and the Legacy of Austrian Economics comprises a variety of … not prescriptive but analytical. His work is not about casting unsubstantiated judgments on modern economics or spouting a …
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Menger disagreed with this view for various reasons. Also, the subjective expectation is infinite. There are many cases where man's behaviour fails to conform to mathematical expectations: games in which a player can win only one very large amount with a very small probability or games offering...
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