The economics of time and ignorance /
The Economics of Time and Ignorance is one of the key works in the development of modern Austrian economics. Building on the work of Hayek, Lachmann and Shackle, its authors developed a powerful critique of neo-classical economics, in particular of its over deterministic models and its pretence of k...
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| Other Authors: | , |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
London :
Taylor & Francis,
1996
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| Series: | Foundations of the market economy series.
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| Subjects: | |
| Local Note: | ProQuest Ebook Central |
Table of Contents:
- The Economics of Time and Ignorance; Copyright; Contents; Acknowledgements; Introduction: Time and Ignorance After Ten Years; 1 An Overview of Subjectivist Economics; Time and Ignorance; The Importance of Time and Ignorance; Keynesianism and the Austrian Contributions; Overview of the Rest of the Book; Part I Framework; 2 Static versus Dynamic Subjectivism; The Questions; The Method of Subjectivism; Dimensions of Subjectivism; Relationship between Static and Dynamic Subjectivism; Concluding Remarks; 3 Knowledge and Decisions; Subjectivism as Content: Knowledge
- Subjectivism as Weighing of Alternatives Conclusion; 4 The Dynamic Conception of Time; Newtonian Time; Real Time; Real Time, Planning, and Action; Economic Processes and Uncertainty; Newtonian and Real Time: The Interrelation; Conclusion; 5 Uncertainty in Equilibrium; Genuine Uncertainty; Genuine Uncertainty: Typicality and Uniqueness; Equilibrium; Equilibrium and Optimality; Part II Applications; 6 Competition and Discovery; Introduction; The Discovery of Opportunities; Knowledge and Competition; Process Theories and Normative Economies; Dynamic Equilibrium
- Rules versus Continuous Utility Maximization The Theory of the Firm; Appendix. Stochastic Equilibrium; 7 The Political Economy of Competition and Monopoly; Competition: Static and Dynamic; Uncertainty and Markets; Optimal Policy; Property Rights Theory of Monopoly; 8 A Subjectivist Theory of a Capital-using Economy; Introduction; The Development of Subjectivist Capital Theory: An Overview; The Mengerian Vision; The Structure of Production; The Rate of Interest in a Capital-using Economy; Variations in the Final Output of the Production Process; Time Preferences and the Structure of Production
- Subjectivism Revisited9 The Microanalytics of Money; Introduction; Microanalysis of Money; The Origin of Money; Business Cycles; A Subjectivist Theory of Economic Fluctuations; Rational Expectations; Conclusion; 10 Some Unresolved Problems; Bibliography; Index
