The Economics of Ignorance and Coordination PDF Download

Author: Thierry Aimar
Publisher: Edward Elgar Publishing
ISBN: 1781007810
Category : Business & Economics
Languages : en
Pages : 319

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Book Description
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 pedagogic

Author: Gerald P O'Driscoll Jnr
Publisher: Routledge
ISBN: 1134808895
Category : Business & Economics
Languages : en
Pages : 300

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Book Description
The Economics of Time and Ignorance is one of the seminal works in modern Austrian economics. Its treatment of historical time and of uncertainty helped set the agenda for the remarkable revival of work in the Austrian tradition which has led to an ever wider interest in the once heretical ideas of Austrian economics. It is here reprinted with a substantial new introductory essay, outlining the major developments in the area since its original publication a decade ago.

Author: Gerald P O'Driscoll Jr
Publisher: Routledge
ISBN: 1317691350
Category : Business & Economics
Languages : en
Pages : 469

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Book Description
Austrian Economics Re-examined: The Economics of Time and Ignorance is an expanded version of the 1996 edition of The Economics of Time and Ignorance. This work is a classic statement of the role of subjectivism, radical uncertainty and change through real time in Austrian economics specifically, and in modern economics more generally. The new book contains the full text and Introductions of the earlier edition as well as the comprehensive previously-unpublished essay "What is Austrian Economics?" and a new Introduction. The essay is a comprehensive overview of the central themes of the book from a somewhat different perspective than in the book itself. It supplements the analysis in the book. The new Introduction explains that the 2007-8 financial crisis and recent developments in behavioural economics have made the book more relevant than ever before. Austrian Economic Re-examined develops and systematizes the fundamental principles of the Austrian tradition to the analysis of rational expectations, business cycles, monetary theory competition and monopoly, and capital theory. The Open Access version of this book, available at https://www.taylorfrancis.com/books/oa-edit/10.4324/9781315776736, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.

Author: Elisabetta de Antoni
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Book Description
Leijonhufvud focuses his analysis on the coordination of economic activities. In a world tossed and torn by ever new episodes of instability, macroeconomic theory must finally admit and properly analyse the limits of collective and individual rationality. Starting from the system's coordination, Leijonhufvud underlines the crucial role of information, learning and institutions. Coming to individual choice, he unremittingly rejects unbounded rationality. Methodologically, however, his use of general equilibrium as a benchmark seems to have conditioned his analysis. In bringing to light the 'dark forces of time and ignorance', Leijonhufvud himself seems to have fallen under the influence of the siren represented by general equilibrium theory.

Author: Olivier Compte
Publisher: Cambridge University Press
ISBN: 1108422020
Category : Business & Economics
Languages : en
Pages : 303

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Book Description
Proposes novel methods to incorporate ignorance and uncertainty into economic modeling without complex mathematics.

Author: Ilya Somin
Publisher: Stanford University Press
ISBN: 0804789312
Category : Law
Languages : en
Pages : 277

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Book Description
One of the biggest problems with modern democracy is that most of the public is usually ignorant of politics and government. Often, many people understand that their votes are unlikely to change the outcome of an election and don't see the point in learning much about politics. This may be rational, but it creates a nation of people with little political knowledge and little ability to objectively evaluate what they do know. In Democracy and Political Ignorance, Ilya Somin mines the depths of ignorance in America and reveals the extent to which it is a major problem for democracy. Somin weighs various options for solving this problem, arguing that political ignorance is best mitigated and its effects lessened by decentralizing and limiting government. Somin provocatively argues that people make better decisions when they choose what to purchase in the market or which state or local government to live under, than when they vote at the ballot box, because they have stronger incentives to acquire relevant information and to use it wisely.

Author: Jonathan Michie
Publisher: Oxford University Press
ISBN: 0199684979
Category : Business & Economics
Languages : en
Pages : 705

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Book Description
This Handbook investigates all types of 'member owned' organizations, whether consumer co-operatives, agricultural and producer co-operatives, or worker co-operatives among many others. The chapters reflect the latest academic research and thinking on each topic, as well as reporting the relevant policy debates.

Author: Israel M. Kirzner
Publisher: University of Chicago Press
ISBN: 022637548X
Category : Business & Economics
Languages : en
Pages : 258

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Book Description
Stressing verbal logic rather than mathematics, Israel M. Kirzner provides at once a thorough critique of contemporary price theory, an essay on the theory of entrepreneurship, and an essay on the theory of competition. Competition and Entrepreneurship offers a new appraisal of quality competition, of selling effort, and of the fundamental weaknesses of contemporary welfare economics. Kirzner's book establishes a theory of the market and the price system which differs from orthodox price theory. He sees orthodox price theory as explaining the configuration of prices and quantities that satisfied the conditions for equilibrium. Mr. Kirzner argues that "it is more useful to look to price theory to help understand how the decisions of individual participants in the market interact to generate the market forces which compel changes in prices, outputs, and methods of production and in the allocation of resources." Although Competition and Entrepreneurship is primarily concerned with the operation of the market economy, Kirzner's insights can be applied to crucial aspects of centrally planned economic systems as well. In the analysis of these processes, Kirzner clearly shows that the rediscovery of the entrepreneur must emerge as a step of major importance.

Author: John Cunningham Wood
Publisher: Taylor & Francis US
ISBN: 9780415310581
Category : Economics
Languages : en
Pages : 398

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Book Description
Hayek's work continues to have a huge influence and this collection will chart the various responses to his work up to the present day, addressing the many and multifaceted contributions that his work has made to the study of economics.

Author: Emily Chamlee-Wright
Publisher: Routledge
ISBN: 1134700113
Category : Business & Economics
Languages : en
Pages : 215

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Book Description
This book argues that international aid programmes are unsuccessful for indigenous African institutions because it is based on mainstream economic theory which is fundamentally acultural which does not understand their cultural context.