The Meaning of Market Process: Essays in the Development of Modern Austrian EconomicsThe 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 |
a fresh | 12 |
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 |
Economic planning and the knowledge problem | 152 |
some relevant | 163 |
a modern Austrian perspective | 180 |
Discovery private property and the theory of justice | 209 |
Notes | 227 |
| 233 | |
| 242 | |
Prices the communication of knowledge and the discovery | 139 |
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Common terms and phrases
able achieve action activity alertness allocation appears appreciation approach argue assumption attention Austrian Austrian economics Austrian School basic calculation central changes chapter choice circumstance clear co-ordination competition complete concerning consistent consumer contributions costs course critics debate decisions determined discovery discussion dispersed dynamic earlier economic economic theory economists efficiency elements emergence emphasized entirely entrepreneurial equilibration equilibrium error existence expectations expressing fact failed forces future given ground Hayek human ideas identify ignorance imagine important individual initial insights institutions knowledge problem learning mainstream market participants market process means Menger Mises mutual neoclassical notion objective offer opportunities original perspective planning position possibility present production profit pure realities recognize refer regard relevant require result role seems seen sense separate social society spontaneous subjectivism subjectivist surely systematic taken theory tion tradition true turn understanding utility vision welfare wish
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Bibliographic information
| Title | The Meaning of Market Process: Essays in the Development of Modern Austrian Economics Foundations of the market economy series The Meaning of Market Process: Essays in the Development of Modern Austrian Economics, Israel M. Kirzner |
| Author | Israel M. Kirzner |
| Edition | reprint, revised |
| Publisher | Psychology Press, 1996 |
| ISBN | 0415137381, 9780415137386 |
| Length | 246 pages |
| Subjects | › › Business & Economics / Economic History Business & Economics / Economics / Theory |
| Export Citation | BiBTeX EndNote RefMan |