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Information and efficient allocation of productive means in a decentralized economy: Organization of markets in Turgot and Gustave de Molinari's works

Rabah Benkemoune ()

Cahiers d’économie politique / Papers in Political Economy, 2006, issue 50, 87-101

Abstract: This article shows the influence of Turgot over Gustave de Molinari's studies in efficient allocation of productive means in a decentralized markets economy. From Turgot's works on spatial organization of markets's grain as an answer to the spatial information problem, Molinari makes deeper the discussion on allocation of means. His contribution resids on the extension of Turgot's analysis to all of goods, in particular to labor, and on the connection, he makes, betwenn spatial organization of markets and the properly working of the gravitation process of prices which permits an efficient sectorial allocation of productive means

JEL-codes: B11 B12 B31 (search for similar items in EconPapers)
Date: 2006
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