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Author: Don Lavoie
Publisher: Routledge
ISBN: 1134842910
Category : Business & Economics
Languages : en
Pages : 340
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Book Description
This collection of Lachmann's essays outline his approach to economics and, in particular, his emphasis on the meaning of human institutions in a world of unpredictable change, rather than on quantitative and stable relations.
Author: Don Lavoie
Publisher: Routledge
ISBN: 1134842910
Category : Business & Economics
Languages : en
Pages : 340
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Book Description
This collection of Lachmann's essays outline his approach to economics and, in particular, his emphasis on the meaning of human institutions in a world of unpredictable change, rather than on quantitative and stable relations.
Author: Don Lavoie
Publisher: Routledge
ISBN: 1134842902
Category : Business & Economics
Languages : en
Pages : 491
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Book Description
This collection of Ludwig Lachmann's essays challenges contemporary attitudes to economics and seeks to apply an interpretive approach to the discipline. The essays, spanning six decades, address a wide range of issues in microeconomics, macroeconomics, methodology and the history of thought. They outline Lachmann's approach to economics, with the emphasis on the meaning of human institutions in a world of unpredictable change, rather than on quantitative and stable relations. Collecting Lachmann's most important work together for the first time, it includes two essays never previously published.
Author: Jens Beckert
Publisher: Harvard University Press
ISBN: 0674545893
Category : Social Science
Languages : en
Pages : 384
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Book Description
In a capitalist system, consumers, investors, and corporations orient their activities toward a future that contains opportunities and risks. How actors assess uncertainty is a problem that economists have tried to solve through general equilibrium and rational expectations theory. Powerful as these analytical tools are, they underestimate the future’s unknowability by assuming that markets, in the aggregate, correctly forecast what is to come. Jens Beckert adds a new chapter to the theory of capitalism by demonstrating how fictional expectations drive modern economies—or throw them into crisis when the imagined futures fail to materialize. Collectively held images of how the future will unfold are critical because they free economic actors from paralyzing doubt, enabling them to commit resources and coordinate decisions even if those expectations prove inaccurate. Beckert distinguishes fictional expectations from performativity theory, which holds that predictions tend to become self-fulfilling prophecies. Economic forecasts are important not because they produce the futures they envision but because they create the expectations that generate economic activity in the first place. Actors pursue money, investments, innovations, and consumption only if they believe the objects obtained through market exchanges will retain value. We accept money because we believe in its future purchasing power. We accept the risk of capital investments and innovation because we expect profit. And we purchase consumer goods based on dreams of satisfaction. As Imagined Futures shows, those who ignore the role of real uncertainty and fictional expectations in market dynamics misunderstand the nature of capitalism.
Author: Theodore M. Porter
Publisher:
ISBN: 9780415107129
Category :
Languages : en
Pages : 310
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Book Description
Author: Michel Bellet
Publisher: Routledge
ISBN: 1134373147
Category : Business & Economics
Languages : en
Pages : 345
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Book Description
This impressive volume centres on the relationship between Austrian and Swedish economics. Exploring themes such as capital theory, expectations, policy, market theory and the history of economic thought, this book makes for an interesting read. It will appeal across a wide range of disciplines within economics as well as the philosophy of social science.
Author: Elinor Ostrom
Publisher: Cambridge University Press
ISBN: 1107569788
Category : Business & Economics
Languages : en
Pages : 297
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Book Description
Tackles one of the most enduring and contentious issues of positive political economy: common pool resource management.
Author: Thomas B. Lawrence
Publisher: Cambridge University Press
ISBN: 0521518555
Category : Business & Economics
Languages : en
Pages : 337
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Book Description
This book contains a series of essays and empirical case studies exploring the nature of institutional work.
Author: Thierry Aimar
Publisher: Edward Elgar Publishing
ISBN: 1781007810
Category : Business & Economics
Languages : en
Pages : 319
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Book Description
This book clarifies the specific nature of the Austrian theory and restores the unity and open-mindedness of the Austrian school in general. The intention is not to offer a collection of different or parallel ideas, but rather to retrace, from a pedagogic
Author: Douglass Cecil North
Publisher: Ics Press
ISBN: 9781558152113
Category : Economic development
Languages : en
Pages : 32
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Book Description
Author: Peter Lewin
Publisher: Routledge
ISBN: 1134756046
Category : Business & Economics
Languages : en
Pages : 266
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Book Description
Drawing on the work of the Austrian School and its heirs, Capital in Disequilibrium develops a modern, systematic version of capital theory in order to suggest a new approach to the subject of economics. Original and provocative in his reflection, Lewin offers both a new approach and an accessible discussion of one of the most important, but also one of the most difficult, areas in economics.
