Subjectivism, Intelligibility and Economic Understanding: by Israel M. Kirzner PDF

By Israel M. Kirzner

ISBN-10: 1349087645

ISBN-13: 9781349087648

ISBN-10: 1349087661

ISBN-13: 9781349087662

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Extra resources for Subjectivism, Intelligibility and Economic Understanding: Essays in Honor of Ludwig M. Lachmann on his Eightieth Birthday

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O'Brien and J. R. Presley (London: Macmillan, 1981). , p. 256. On the competitive-entrepreneurial equilibration process see I. M. Kirzner, Competition and Entrepreneurship (Chicago: The University of Chicago Press, 1973); I. M. Kirzner, Perception, Opportunity, and Profit (Chicago: University of Chicago Press, 1979). Hayek, Individualism and Economic Order, op. , p. 44. F. A. Hayek, The Pure Theory of Capital (London: Routledge, 1941), p. 3. Stephan Boehm 29 29. L. M. Lachmann, Capital, Expectations, and the Market Process (Kansas City: Sheed Andrews & McMeel, 1977), p.

258-274; Emery [1896] 1969; Hadley, 1904, pp. 159-169) and while there have been certain groups of economists who especially devoted their efforts to the problem of expectations (such as was embedded in the so-called "period" and "plan" analysis of the Swedish economists of the 1930s) (Lundberg [1937] 1964; Lindahl [1939] 1970; Myrdal [1939] 1965; Ebeling, 1981), it has been the rational expectations theorists who in recent years have given the greatest impetus to the subject. Part of the monetarist critique of Keynesian economics had been the reliance of the latter upon a persistent money illusion on the part of market agents.

Kompas, "Marshall and Keynes on the Long and Short Run: Traditional Notions of Equilibrium Reconsidered," a paper delivered at the History of Economics Society Meetings, May 1983. Kompas distinguishes three distinct notions of long-period equilibria (Wicksellian, Marshallian, static Walrasian), according to whether an aggregate stock of value capital is taken as a datum of the analysis. See L. M. Lachmann, "Austrian Economics Under Fire. The Hayek-Sraffa Duel in Retrospect," unpublished manuscript (1980).

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Subjectivism, Intelligibility and Economic Understanding: Essays in Honor of Ludwig M. Lachmann on his Eightieth Birthday by Israel M. Kirzner


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