Suchergebnisse

Here, leading economists explore whether Austrian economics is still relevant today. Starting with Peter Boettke's lead essay, "What is Wrong with Austrian Economics?", chapters include an array of perspectives responding to this question, ranging from economics, to intellectual history, to political science, and to philosophy.

Introduction / Roger Koppl -- The research program of Austrian economics / Lawrence H. White -- Hayek vs. Hayek : a defence of moderate trade union activity / Torsten Niechoj -- Analogous models of complexity : the Austrian theory of capital and Hayek's theory of cognition as adaptive classifying systems / Steven Horwitz -- The firm in disequilibrium : a market process view of firm organization and strategy / Peter Lewin -- Policy advice by Austrian economists : the case of Austria in the 1930 / Hansj(c)·org Klausinger -- Markets vs. politics : correcting erroneous beliefs differently / Martin Gregor -- Opening remarks by Alfred Wirth / Alfred G. Wirth -- The continuing relevance of F.A. Hayek's political economy / Peter J. Boettke, Christopher J. Coyne, Peter T. Leeson -- Scientific hermeneutics : a tale of two Hayeks / Roger Koppl

"What if economics began with people? Carl Menger. Ludwig von Mises. F.A. Hayek. Murray Rothbard. Israel Kirzner. They're some of the most important and acclaimed economists of the modern era, and they all belong to an intellectual tradition known as the Austrian School of Economics. While many economists model people's behavior using idealized assumptions, Austrian economists begin by taking people as they are and build economic theories by examining the logical structure of the choices they make. This book introduces the key thinkers of the Austrian School and explains their insights on a wide range of economic topics. It also explains the relationship between the Austrian School and mainstream economics and delves into the criticisms Austrian School economists have mounted against communist and socialist economic thought."

Cover -- Half Title -- Title Page -- Copyright Page -- Table of Contents -- Notes on contributors -- 1 Introduction: Austrian Economics in Debate -- 2 Austrian Themes in a Reconstructed Macroeconomics -- 3 Money, Economic Fluctuations, Expectations and Period analysis: The Austrian and Swedish Economists in the Interwar Period -- 4 Schumpeter's Walrasian Stand in the Socialist Calculation Debate -- 5 Misunderstandings and Other Coordination Failures in the Hayek-Keynes Controversy -- 6 Critical Realism: Marx and Hayek -- 7 Austrian Economics and the Abandonment of the Classic Thought Experiment -- 8 The Theory of Entrepreneurship in Austrian Economics -- 9 Entrepreneurship, Interdependency and Institutions: The Comparative Advantages of the Austrian and Post-Keynesian Styles of Thought -- 10 Hayek and Rational Expectations -- 11 On Austrian and Neo-Institutionalist Economics -- 12 Private Information, Contractual Arrangements and Hayek's Knowledge Problem -- Index

Examines the post-1970s area of the Austrian economic tradition, from its revival to its contemporary directions and development. The book comprises texts on the relationship of Austrian economics to Institutionalism, Evolution, and Post-Keynesian economics to present a look at ""the way forward

Leading scholars consider Austrian economics from several perspectives such as characteristic themes of entrepreneurship and uncertainty, scientific methods such as mathematical complexity theory and experimental economics, and historical contexts such as pre-war Vienna and post-war France. Placing "Austrian economics" in these multiple contexts helps to reveal the rich texture of the Austrian tradition in social thought and its multiple connections to current research in diverse fields. Applications to the theory of the trade cycle and to foreign intervention suggest that the Austrian tradition contains possibilities not yet full explored and exploited. The volume gathers together papers presented at the second biennial Wirth conference on Austrian economics, held in October 2008 when the crisis of Fall 2008 was still new and shocking. This coincidence of timing makes policy issues and crisis management a kind of leitmotif of the volume. If, as keynote speaker David Colander argues, Austrians have a comparative advantage in political economy, then its stock should rise in times of crisis and political uncertainty. The volume provides evidence in favor of this view. Contributors include David Colander, Richard Wagner, Jeffery McMullen, J. Barkley Rosser, Jr., Steve Horwitz, Richard Ebeling, Chris Coyne, and Peter Boettke.

Leading scholars consider Austrian economics from several perspectives such as characteristic themes of entrepreneurship and uncertainty, scientific methods such as mathematical complexity theory and experimental economics, and historical contexts such as pre-war Vienna and post-war France. Placing "Austrian economics" in these multiple contexts helps to reveal the rich texture of the Austrian tradition in social thought and its multiple connections to current research in diverse fields. Applications to the theory of the trade cycle and to foreign intervention suggest that the Austrian traditi

Time, change, and complexity : Ludwig M. Lachmann's contributions to the theory of capital / Peter Lewin -- Chinese reforms : a review of Susan L. Shirk, the political logic of economic reform in China / T.David Burns, Kate Xiao Zhou -- Signifying nothing : a review essay of Joseph Stiglitz, Whither Socialism? / Truth-seeking and rent-seeking : a review essay of Lars Magnusson, mercantilism : the shaping of an economic language -- Uniqueness, complementarity, and tension : a review of Israel Kirzner, editor, Classics in Austrian economics / Mario J. Rizzo -- Post-Marshallian and Austrian economics : toward a fruitful liaison? / Nicolai J. Foss -- M. Dietrich, transaction cost economics and beyond / David A. Harper -- Steven G. Medema, Ronald H. Coase / Donald J. Boudreaux -- Raimondo Cubeddu, The philosophy of the Austrian school / Roger Koppl -- Peter J. Boettke, editor, the elgar companion to Austrian economics / Theodore A. Burczak -- The Austrians and self-management : a positive essay / Jaroslav Vanek -- After the fall : an introduction to the symposium on models of socialism / Peter J. Boettke, David L. Prychitko -- The monitoring problem for market socialist firms / N. Scott Arnold -- The critique of workers' self-management : Austrian perspectives and economic theory / David L. Prychitko -- Money, money prices, and the socialist calculation debate / Steven Horwitz -- Market process perspectives on post-communist economies / Laurence S. Moss -- The coase theorem and strategic bargaining / Donald J. Boudreaux

Austrian economics is known for extensive--and many economists would say excessive--ruminations on methodology. Attempting to steer a middle course between radical forms of historicism (there are no economic laws) and scientism (economic laws are as precise as physical laws), this approach often appears to diminish the importance of empirical testing and quantitative methods more generally. Since the Austrian revival of the 1970's, social scientists have developed a number of new theoretical and empirical approaches to studying the social world. Experimental and behavioral economics have exploded in popularity. Econometrics has arguably taken a more central role in the discipline than even formal economic theory. And, most prominently, econometricians have developed quasi-experimental techniques for examining real-world data as part of the "credibility revolution." This volume, Contemporary Methods and Austrian Economics, examines the relationship between Austrian economics and these new social scientific methods. Do Austrian critiques of the excessive ambitions of formal theory and empirical measurement still hold water (if they ever did)? Do the findings of these new approaches bolster or undermine distinctively Austrian theories? How should we update our views on the relationship between abstract economic theory and empirical investigations?

The crisis of vision in modern economic thought a symposium / Peter J. Boettke -- The crisis of vision in modern economic thought : some questions from the left / Antonio Callari -- Beyond science : the economists' enterprise / James M. Buchanan -- The problem of vision in economics : a review / Warren J. Samuels -- The crisis of vision in modern economic thought an Austrian economist's perspective / Israel M. Kirzner -- Adolph Lowe and the Austrians / Mathew Forstater -- Austrian insights and the theory of the firm / Nicolai J. Foss -- Francis Newman and the Austrian critique of socialism / Jeremy Shearmur -- Lachmann's plan, and its lesson : comment on Lavoie / David L. Prychitko -- On regrouping the intellectual capital structure of Lachmann's economics / Don Lavoie -- The dangers that court hermeneutics rejoinder to Lavoie / David L. Prychitko -- How entrepreneurs learn / Ivan Pongracic -- Review of Uskali M(c)·aki, Bo Gustafsson, and Christian Knudsen, editors, Rationality, Institutions / Roger Koppl -- The economics of time and money : an introduction to a symposium on Austrian macroeconomics / Steven Horwitz -- The theory of business fluctuations : new keynesians, old monetarists, and Austrians / Parth J. Shah -- Capital and time : variations on a Hicksian theme / Peter Lewin -- Austrian and monetarist business cycle theories : substitutes or complements? / Larry J. Sechrest -- Toward an Austrian theory of expectations / William N. Butos -- The regulation of bank capital adequacy / Kevin Dowd