This paper outlines the development of Hayek's account of the working of decentralised economies, focusing in particular on his move away from using the notion of economic equilibrium towards an emphasis on the notion of 'order'

This paper evaluates the contribution of Risk, Uncertainty, and Profit to the development ofeconomic theory in the 20th century. Our argument in this paper is twofold. First, we contend thatthis book embodied what had been the common knowledge of early neoclassical economics priorto WWII....

Standard histories of economics usually treat the "marginal revolution" of the midnineteenth century as both supplanting the "classical" economics of Smith and Ricardo and as advancing the idea of economics as a mathematical science. The marginalists - especially Jevons and Walras - viewed...

This paper contextualizes the contribution of Risk, Uncertainty, and Profit to the development of economic theory in the 20th century. Our argument in this paper is twofold. First, we contend that this book embodied what had been the common knowledge of early neoclassical economics prior to...

Legal scholars and economists alike have been quite critical of F. A. Hayek’s legal theory. According to Richard Posner, Hayek’s legal theory is “formalist” and serves as a useless guide for legal scholars and judges. Alan Ebenstein claims that Hayek’s arguments in technical economics...

This paper re-examines the origins of Paul A. Samuelson's Foundations of Economic Analysis (1947), a book that helped define the way economic theory was undertaken for many years after its publication. Material taken from Samuelson's own papers and other archives is used to elaborate and correct...

Leszek Jasiński [2019] attempts, as the title indicates, "a reading after half a century" of Michał Kalecki's thought. We dispute the main claim in the book, i.e. that Kalecki has a firm place in contemporary mainstream economics and was the originator of many ideas generally accepted today....

Mikhail Tugan‑Baranovsky was one of the most prolific Russian economists at the turn of the 19–20th centuries. His thought was largely influenced by Western ideas, like most of his fellow Russian economists. But Tugan‑Baranovsky’s theories in turn also influenced Western economic thought...

The history of modern economics abounds with pleas for more pluralism as well as pleas for more unification. These seem to be contradictory goals, suggesting that pluralism and unification are mutually exclusive, or at least that they involve trade-offs with more of one necessarily being traded...

In this article, the author offers a discussion of the evidential role of the Galilean constant in the history of physics. The author argues that measurable constants help theories constrain data. Theories are engines for research, and this helps explain why the Duhem-Quine thesis does not...