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Justice, Dynamism, and Social Order: Of Wars and Markets | Prof. Catherine Pakaluk

The Thomistic Institute

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The First Principle of Economic Justice

Hayek: Every instant in time is dependent upon contemporaneous actions and past decisions realized. The principle of preserving economic life does not arise from a theory of individual rights or even from a priority of rules over outcomes something like Hayek would have preferred. It's as much a matter of economic justice that markets exist in flourish as it is that war is avoided, he says.

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