The economics of ignorance and coordination: subjectivism and the Austrian School of Economics
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cheltenham [u.a.]
Edward Elgar
2009
|
| Series: | New thinking in political economy
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis Klappentext |
| Item Description: | Bibliographie S. 257 - 290 ; Personen- u. Sachindex |
| Physical Description: | XV, 302 S. |
| ISBN: | 9781848441040 |
Staff View
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Record in the Search Index
| _version_ | 1804138647133356032 |
|---|---|
| adam_text | Contents
General
Introduction xi
PART
1:
FOUNDATIONS
Intr
1.
oduction
Mises
and the Austrian Tradition
3
5
1
Positivism and Historicism: Specificity of the Social Field
5
1.1
The Vienna Circle and the
Positivist
Theories: A Critical View
6
1.2
The Refusal of Epistemological Relativism: Opposition to
Historicism
9
2
Analysis of the Social Field: Theory and History
10
2.1
Apriorism,
the Foundation of Theory
11
2.2
History, Field of Understanding
12
2.3
Practical Complementarity, Epistemological Subordination
13
3
Mises
and His Predecessors: Contentions and Continuities
15
3.1
Fidelity to a Methodological Approach
16
3.2
An Epistemological Rift
18
2.
Praxeology, Axiomatic System of Economics
25
1
The Praxeological Model s Structure
25
1.1
Characters
26
1.2
Conditions
27
1.3
Implications
28
2
Praxeological Subjectivism
29
2.1
The Reign of
Wertfreiheit
29
2.2
The Rationality of Human Action
31
3
Praxeology and Psychology
32
3.1
Preference and Indifference
32
3.2
Action, Creator of Preference
33
3.3
The Tendency Towards Equilibrium: A Praxeological Definition
34
vi
The Economics of Ignorance and Coordination
3.
Action and Interpersonal Exchange: The Limits of the
A Priori Approach
41
1
Varying Forms of Interpersonal Exchange: From Barter to Money
41
1.1
Barter, a Product of Theory and History
42
1.2
Indirect Exchange, the Money Price Generator
43
2
Epistemological Problems with Market Exchange
46
2.1
The Question of Subsidiary Hypotheses: The
Constraints of Ignorance
46
2.2
What Theoretical Bases for Market Economics?
49
PART
2:
CATALLAXY, A RESPONSE TO IGNORANCE
Introduction
57
4.
Market Formation
59
1
The Sensory Order. Hayek s Contribution
60
1.1
The Mind as Classifying Structure
61
1.2
Psychological Foundations of Subjectivity
61
2
Market and Society
62
2.1
The Map and the Model: The Role of Pre-Sensory Experience
62
2.2
Cultural Representations
64
3
Prolegomena and Prolongations
65
3.1
Ideal Types: Hayek,
Schütz
and the Austrian Tradition
66
3.2
Abstract Rules and Spontaneous Order
68
5.
A World of Discovery
73
1
Markets, Equilibrium and Disequilibrium
73
1.1
Information Is Not the Same as Knowledge
73
1.2
Disequilibrium Prices
74
1.3
Ignorance, Errors and Processes
76
2
The Entrepreneur-Promoter
78
2.1
From the Praxeological Entrepreneur to the Market Promoter
78
2.2
Alertness as Ability of Perception
79
2.3
The Nature of Learning
81
2.4
From Ignorance to Knowledge: The Role of Profit
84
3
The Institutional Dimension of
Entrepreneurship
87
3.1
Competition as a Discovery Process
88
3.2
Free Entry Competition
91
3.3
The Increment of Freedom
92
3.4
The Myth of Social Justice
94
Contents
vii
6.
Tendency towards Equilibrium
103
1
Analytical Framework
104
1.1
Statics and Dynamics
104
1.2
Exogenous Changes and
Entrepreneurship
104
1.3
Equilibration and Periods
105
2
Forming Expectations
107
2.1
Speculation and Understanding
108
2.2
The Contribution of Cognitive Psychology
111
2.3
The Subjectivism of Expectations
113
3
Succeeding In Expectations
118
3.1
The Entrepreneur as Creator of the Future
118
3.2
Austrian Economics of the Firm
123
3.3
The Hayekian View: Spontaneous Orders as Pattern Predictions
128
3.4
Plans and Prices
133
PART
3:
APPLICATIONS AND DEBATES
Introduction
151
7.
The Debate on Collectivism
153
1
The Irrationality of Collectivism
155
1.1
Monetary Calculation
155
1.2
The Chaos of Collectivism
156
1.3
A Procedural Conception of Economic Systems
158
2
Neo-
Austrian Theory versus General Economic Equilibrium
158
2.1
The Quantity of Information
159
2.2
The Change in Information
162
2.3
Computing And Mathematics: Linear Programming
167
3
The Nature of Knowledge
169
3.1
Tacit Knowledge
169
3.2
Incentives
170
3.3
Institutions
173
4
An Alternative Reading: The
Rothbard
Argument
175
4.1
Knowledge and Calculation
176
4.2
The Systemic Impossibility of Centralized Economic Calculation
178
The Economics of Ignorance and Coordination
8.
Austrian Theory of the Business Cycle
187
1
First Steps of the Approach
188
1.1
Capital as Structure, Roundabout Production Processes
188
1.2
The Two Interest Rates
192
2
The Monetary Logic of the Cycle
196
2.1
A Monetary Mirage: The Boom
197
2.2
The Constraint of Subjectivism: The Crisis
199
3
Monetary Stability: A Default Solution
202
3.1
Monetary Neutrality and its Limits
202
3.2
From Gold Standard to Private Currencies
203
4
The Great Debates
207
4.1
Savings, Investment and Money: The Hayek Keynes Collision
207
4.2
Equilibrium and Equilibriums : Hicks Critique
209
4.3
Real Economies versus Monetary Economies: The
Hayek-Sraffa Debate
212
9.
Welfare Economics: Workable Definitions
219
1
The Market and Satisfaction: A Procedural Approach to Welfare
220
1.1
Exchange Producing Social Utility
221
1.2
The Kirzner Alternative: Coordination as Process
222
1.3
Private Property as a Condition of Forming Plans: Catallactic
Efficiency
225
2
Neo-Austrian Welfare Economics and Normativity
227
2.1
The Argument of Demonstrated Preference
227
2.2
From
Wertfreiheit
to Free Market Normativity
228
2.3
The Pre-eminence of Value Judgements
3
An Open Question: The Argument of Survival
233
3.1
Survival and Coordination
233
3.2
A Praxeological View of the Survival-Normativity
Relation
237
3.3
Unprescribed Normativity
241
Contents ix
Appendix: Schumpeter
and the Austrian
Tradition 247
General
Conclusion
255
Bibliography
257
Analytical
Index 291
Index
of Names
299
The Economics of Ignorance and Coordination
This book clarifies the specific nature of the Austrian theory and
restores the unity and open-mindedness of the Austrian school in
general. The intention is not to offer a collection of different or parallel
ideas, but rather to retrace, from a pedagogical and constructive
perspective, the various stages of the construction of a well-founded
theoretical edifice: from
Ludwig
von
Mises
to Murray
Rothbard,
from
Friedrich
Hayek to Israel Kirzner and from
Lachmann
to Lavoie.
The book is
a reconstitution
of the way Austrian ideas and concepts
organize themselves in a common structure.
Providing a clear distinction between economic analysis and doctrine,
this in-depth and unified theoretical book will be valuable to
postgraduate students and researchers of economics. It is a great
introduction to major Austrian theories including money, the firm,
cognitive psychology, comparative economic systems and economic
information.
Thierry Aimar is Assistant Professor of
Economi
Paris and the University of Nancy
2
and is at the Paris
1 Pantheon-
Sorbonne
and the ESSEC Business School Paris, France.
|
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| indexdate | 2024-07-09T21:31:30Z |
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| spelling | Aimar, Thierry 1966- Verfasser (DE-588)171838599 aut The economics of ignorance and coordination subjectivism and the Austrian School of Economics Thierry Aimar Cheltenham [u.a.] Edward Elgar 2009 XV, 302 S. txt rdacontent n rdamedia nc rdacarrier New thinking in political economy Bibliographie S. 257 - 290 ; Personen- u. Sachindex Österreichische Schule stw Austrian school of economics Wiener Schule Wirtschaftswissenschaften (DE-588)4140691-6 gnd rswk-swf Wiener Schule Wirtschaftswissenschaften (DE-588)4140691-6 s DE-604 Digitalisierung UB Bayreuth application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017137969&sequence=000003&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis Digitalisierung UB Bayreuth application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017137969&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA Klappentext |
| spellingShingle | Aimar, Thierry 1966- The economics of ignorance and coordination subjectivism and the Austrian School of Economics Österreichische Schule stw Austrian school of economics Wiener Schule Wirtschaftswissenschaften (DE-588)4140691-6 gnd |
| subject_GND | (DE-588)4140691-6 |
| title | The economics of ignorance and coordination subjectivism and the Austrian School of Economics |
| title_auth | The economics of ignorance and coordination subjectivism and the Austrian School of Economics |
| title_exact_search | The economics of ignorance and coordination subjectivism and the Austrian School of Economics |
| title_full | The economics of ignorance and coordination subjectivism and the Austrian School of Economics Thierry Aimar |
| title_fullStr | The economics of ignorance and coordination subjectivism and the Austrian School of Economics Thierry Aimar |
| title_full_unstemmed | The economics of ignorance and coordination subjectivism and the Austrian School of Economics Thierry Aimar |
| title_short | The economics of ignorance and coordination |
| title_sort | the economics of ignorance and coordination subjectivism and the austrian school of economics |
| title_sub | subjectivism and the Austrian School of Economics |
| topic | Österreichische Schule stw Austrian school of economics Wiener Schule Wirtschaftswissenschaften (DE-588)4140691-6 gnd |
| topic_facet | Österreichische Schule Austrian school of economics Wiener Schule Wirtschaftswissenschaften |
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