This Element attempts to tease out and discuss the critical contributions of Lachmann's economics. One way in which to understand Lachmann's economics is by seeing it as unified in considering a single conceptual problem. This theme allows us to put things together more coherently than other strategies.
This Element attempts to tease out and discuss the critical contributions of Lachmann's economics. One way in which to understand Lachmann's economics is by seeing it as unified in considering a single conceptual problem. This theme allows us to put things together more coherently than other strategies.
1. Introduction; 2. Radical subjectivism, the consequences of active minds and the problem of Kaledic nihilism; 3. Markets as adjustment processes for reconciling plans, the challenge of plan adjustment outside a market and the role of institutions; 4. The similarities and differences between Lachmann and Kirzner on equilibrium; 5. The self-similar structure of social systems, the notion of orientation, the centrality of the plan, and the theory of institutions (again); 6. Lachmann's Enduring Influence; References.
1. Introduction; 2. Radical subjectivism, the consequences of active minds and the problem of Kaledic nihilism; 3. Markets as adjustment processes for reconciling plans, the challenge of plan adjustment outside a market and the role of institutions; 4. The similarities and differences between Lachmann and Kirzner on equilibrium; 5. The self-similar structure of social systems, the notion of orientation, the centrality of the plan, and the theory of institutions (again); 6. Lachmann's Enduring Influence; References.
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