The Meaning of Market Process collects the recent work of one of the world's foremost 'Austrian' economists. Arguing that 'equilibrium economics' is inadequate to explain the real functioning of markets, it expounds the theory of market process - a theory which emphasizes the role of the entrepreneur and of ignorance, uncertainty and the passage of time.
The Meaning of Market Process collects the recent work of one of the world's foremost 'Austrian' economists. Arguing that 'equilibrium economics' is inadequate to explain the real functioning of markets, it expounds the theory of market process - a theory which emphasizes the role of the entrepreneur and of ignorance, uncertainty and the passage of time.
Part 1 Part I The market process approach; Chapter 1 Chapter 1 Market process theory: in defence of the Austrian middle ground; Chapter 2 Chapter 2 The meaning of market process; Part 2 Part II The emergence of the Austrian view; Chapter 3 Chapter 3 The Austrian School of economics; Chapter 4 Chapter 4 Carl Menger and the subjectivist tradition in economics; Chapter 5 Chapter 5 Menger, classical liberalism and the Austrian School of economics; Chapter 6 Chapter 6 The economic calculation debate: lessons for Austrians; Chapter 7 Chapter 7 Ludwig von Mises and Friedrich von Hayek: The modern extension of Austrian subjectivism; Part 3 Part III Some new explorations in the Austrian approach; Chapter 8 Chapter 8 Prices, the communication of knowledge and the discovery process; Chapter 9 Chapter 9 Economic planning and the knowledge problem; Chapter 10 Chapter 10 Knowledge problems and their solutions: some relevant distinctions; Chapter 11 Chapter 11 Welfare economics: a modern Austrian perspective; Part 4 Part IV Some related issues emerging from the Austrian approach; Chapter 12 Chapter 12 Self-interest and the new bashing of economics: a fresh opportunity in the perennial debate?; Chapter 13 Chapter 13 Discovery, private property and the theory of justice in capitalist society Notes ReferencesIndex;
Part 1 Part I The market process approach; Chapter 1 Chapter 1 Market process theory: in defence of the Austrian middle ground; Chapter 2 Chapter 2 The meaning of market process; Part 2 Part II The emergence of the Austrian view; Chapter 3 Chapter 3 The Austrian School of economics; Chapter 4 Chapter 4 Carl Menger and the subjectivist tradition in economics; Chapter 5 Chapter 5 Menger, classical liberalism and the Austrian School of economics; Chapter 6 Chapter 6 The economic calculation debate: lessons for Austrians; Chapter 7 Chapter 7 Ludwig von Mises and Friedrich von Hayek: The modern extension of Austrian subjectivism; Part 3 Part III Some new explorations in the Austrian approach; Chapter 8 Chapter 8 Prices, the communication of knowledge and the discovery process; Chapter 9 Chapter 9 Economic planning and the knowledge problem; Chapter 10 Chapter 10 Knowledge problems and their solutions: some relevant distinctions; Chapter 11 Chapter 11 Welfare economics: a modern Austrian perspective; Part 4 Part IV Some related issues emerging from the Austrian approach; Chapter 12 Chapter 12 Self-interest and the new bashing of economics: a fresh opportunity in the perennial debate?; Chapter 13 Chapter 13 Discovery, private property and the theory of justice in capitalist society Notes ReferencesIndex;
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