The Meaning of Market Process: Essays in the Development of Modern Austrian Economics

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Psychology Press, 1996 - Business & Economics - 246 pages
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.
 

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Contents

in defence of the Austrian
3
The meaning of market process
38
The Austrian School of economics
57
Carl Menger and the subjectivist tradition in economics
70
Menger classical liberalism and the Austrian School
86
lessons for Austrians
100
the modern
119
Prices the communication of knowledge and the discovery
139
some relevant
163
a modern Austrian perspective
180
Some related issues emerging from the Austrian
193
Discovery private property and the theory of justice
209
Notes
227
References
233
Index
242
Copyright

Economic planning and the knowledge problem
152

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