Whatever F.A. Hayek meant by "knowledge" could not have been the justified true belief conception common in the Western intellectual tradition from at least the time of Plato onward. In this brief note, I aim to uncover and succinctly state Hayek's unique definition of knowledge.

Historians of the social sciences and historians of economics have come to agree that, in the United States, the 1940s transformation of economics from political economy to economic science was associated with economists’ engagements with other disciplines – e.g. mathematics, statistics,...

This paper uses the theory of complex systems as a conceptual lens through which to compare the work of Friedrich Hayek and Vincent and Elinor Ostrom. It is well known that, from the 1950s onwards, Hayek conceptualised the market as a complex adaptive system. It is argued in this paper that,...

Financial economics and mathematical finance are the two traditional scientific disciplines that constitute modern financial theory. Although they still largely dominate modern financial theory, in the past few years a new “player” has increasingly been making itself felt and could lead to a...

Historians of economic thought are paying greater attention to issues of social ontology (that is, to the assumptions that economists make about the nature of social reality). In this paper, we contribute to this burgeoning literature by exploring the hitherto neglected way in which James...

This paper develops a response to some of the criticisms that have been made of G.L.S. Shackle's analysis of human decision-making because of its reliance on a Cartesian account of the mind. It is argued that the basis for a response can be found in the work on theoretical psychology developed...

Historians of the social sciences and historians of economics have come to agree that, in the United States, the 1940s transformation of economics from political economy to economic science was associated with economists' engagements with other disciplines - e.g. mathematics, statistics,...

Historians of the social sciences and historians of economics have come to agree that, in the United States, the 1940s transformation of economics from political economy to economic science was associated with economists' engagements with other disciplines — e.g. mathematics, statistics,...

We address the challenge of attempting to advance a strong and consistently subjectivist view of economic agency without simultaneously undermining the possibility of providing a coherent account of social institutions and socio-economic order. The argument is presented as a case study and...