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The method appropriate to the historical and conceptual investigation of Hayek’s ideas is implicit in his own writings on the methodology of disciplines that study complex phenomena. The phenomena of Hayek’s career are complex phenomena requiring a method appropriate to this complexity.
Persistent link: https://www.econbiz.de/10011899124
The economic paradigms of Ludwig von Mises on the one hand and of John Maynard Keynes on the other have been correctly recognized as antithetical at the theoretical level, and as antagonistic with respect to their practical and public policy implications. Characteristically they have also been...
Persistent link: https://www.econbiz.de/10014195194
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This paper addresses the question of whether the Austrian theory of interventionism helps us understand what growth … economists call decelerations or slowdowns. It is proposed that the theory of stagnation based on non-productive entrepreneurship … (Coyne, Sobel and Dove 2010) complements the theory of interventionism, and when they are combined, a theory of slowdowns is …
Persistent link: https://www.econbiz.de/10014163136
The ethical and legal thought of Thomas Aquinas and F. A. Hayek emerged out of distinct philosophical traditions. Aquinas, following the Aristotelian tradition, emphasized the inexact character of ethics and hence the mutability of law due to the contingency of particular circumstances. Hayek,...
Persistent link: https://www.econbiz.de/10014056888
What is the relationship between central planning, pervasive shortages, and soft budget constraints under socialism? In this paper, we address this question by exploring the evolution of János Kornai’s work on the operation of real-world socialism. In doing so, our goal is to reframe...
Persistent link: https://www.econbiz.de/10014090581
paper discuss Mengerian methodology for studying the human sciences, Mengerian process theory, the connection to Adam Smith …
Persistent link: https://www.econbiz.de/10014081498
In the 1950s, Jacques Rueff’s references to social order seem pretty clear: it is not a spontaneous phenomena. Although Rueff is generally seen as a liberal economist, this has prompted commentators to see in his approach something more artificial than Hayek’s own ideas on social order....
Persistent link: https://www.econbiz.de/10014474868
Progressive Era with the goal of identifying how this literature is informed by Austrian economic theory, and how Austrian theory … because Austrian theory overlaps with public choice theory, the analytical toolkit used by most studies of the rise of … regulation. However, the normative implications of Austrian theory regarding the efficiency consequences of regulation are not …
Persistent link: https://www.econbiz.de/10015051914