The Market As An Economic Process
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The Market As An Economic Process
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Author : Ludwig M. Lachmann
language : en
Publisher:
Release Date : 2020-06-22
The Market As An Economic Process written by Ludwig M. Lachmann and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-22 with Business & Economics categories.
It is widely acknowledged among economists today that their discipline is in a state of some disarray. Behind the controversies particular to the times lies a fundamental crisis of thought, rooted in the increasingly apparent inadequacy of the neoclassical approach that has been dominant for some fifty years. The failure to impose such a formalistic framework has fostered the return from the wilderness of the subjectivist Austrian School of economics and renewed debate on the nature of markets and the predictability of economic phenomena. Until recently subjectivist economics has been largely ignored by mainstream economists. But as the dominant neoclassical, Keynesian, and monetarist approaches have each been championed in turn only to be found wanting at the end of the day, the Austrian approach has come to seem increasingly promising. In this book, first published in 1986 and now reprinted with a new foreword from Solomon M. Stein and Virgil Henry Storr, Ludwig M. Lachmann presents his case for viewing economic events as elements within an ongoing process dependent on human actions in a world where the future, though not unimaginable, is unknowable. In stark contrast to the mechanistic world view of mainstream orthodoxy, his perspective takes due account of the complex workings of the human mind. His insistence on the variety of ways in which markets may function warns against elevating any "process" theory to the levels of abstraction characteristic of neoclassical equilibrium theory. Drawing easily on the classics as well as the most recent theoretical developments, Lachmann sheds new light on each of the areas he discusses. Ludwig M. Lachmann (1906-1990) witnessed and participated in numerous controversies for over fifty years as a leading member of the Austrian School, while remaining receptive to ideas from a diversity of disciplines and schools of thought. He studied under F. A. Hayek at the London School of Economics in the 1930s, and was a distinguished member of the Austrian School of economics and has played an active part in its revival over the past ten years. His previous publications include Capital and its Structure (1956), The Legacy of Max Weber (1970), and Capital Expectations and the Market Process (1977).
Prices And Knowledge
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Author : Esteban F. Thomsen
language : en
Publisher: Routledge
Release Date : 2002-01-22
Prices And Knowledge written by Esteban F. Thomsen and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-01-22 with Business & Economics categories.
The growth of information economics has lead to a substantial re-consideration of the role of prices. Instead of the conventional neo-classical view of prices as straightforward indicators of scarcity, information economics emphasises that prices can be sources from which agents infer information and means by which they communicate. Prices and Knowledge analyses different theoretical approaches to the role of prices in situations of imperfect information. It shows that whilst the `informational efficiency' approach of Grossman and Stiglitz and the `bounded rationality theory' of Nelson and Simon are useful, neither goes far enough in considering situations of disequilibrium.
The Meaning Of The Market Process
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Author : Israel M Kirzner
language : en
Publisher: Routledge
Release Date : 2002-09-11
The Meaning Of The Market Process written by Israel M Kirzner and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-09-11 with Business & Economics categories.
Israel Kirzner is the foremost proponent of the modern Austrian theory of the market process. This book offers substantive insights in support of this theory and a new historical interpretation of how the ideas of modern Austrians emerged.
Capital Expectations And The Market Process
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Author : Ludwig M. Lachmann
language : en
Publisher: Kansas City : Sheed Andrews and McMeel
Release Date : 1977
Capital Expectations And The Market Process written by Ludwig M. Lachmann and has been published by Kansas City : Sheed Andrews and McMeel this book supported file pdf, txt, epub, kindle and other format this book has been release on 1977 with Austrian school of economics categories.
Market Relations And The Competitive Process
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Author : Stan Metcalfe
language : en
Publisher: Manchester University Press
Release Date : 2018-07-30
Market Relations And The Competitive Process written by Stan Metcalfe and has been published by Manchester University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-07-30 with Business & Economics categories.
This electronic version has been made available under a Creative Commons (BY-NC-ND) open access license. There has been increasing interest and debate in recent years on the instituted nature of economic processes in general and the related ideas of the market, in particular the competitive process. This debate lies at the interface between two largely independent disciplines, economics and sociology, and reflects an attempt to bring the two fields of discourse more closely together. This book explores this interface in a number of ways, looking at the competitive process and market relations from a number of different perspectives. It includes a wide range of contributors, most of whom are leading writers and thinkers in the field. The book considers the social role of economic institutions in society and examines the various meanings embedded in the word 'markets', as well as developing arguments on the nature of competition as an instituted economic process, rather than as competition being something that disturbs norms or institutions. It goes on to consider the deeper and more involved connection between markets and cognition, explaining how institutions can ease cognitive difficulties, and the effect of culture on markets and competition is also fully studied. This book will be of vital use to students and academics working in the fields of economics, sociology and business studies. It sketches the agenda for future research about markets and the competitive process.
The Economic Process
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Author : Carmine Gorga
language : en
Publisher: Rowman & Littlefield
Release Date : 2010
The Economic Process written by Carmine Gorga and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Business & Economics categories.
The more hoarding, the less investment. The more hoarding, the more inflation. The more hoarding, the more poverty. Carmine Gorga
An Introduction To The Market System
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Author : Kalman Goldberg
language : en
Publisher: Routledge
Release Date : 2016-07-08
An Introduction To The Market System written by Kalman Goldberg and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-08 with Business & Economics categories.
The overriding objective of this text is to help students understand the economic context in which they play out their personal and professional lives, both in the United States and in the world. It seeks to overcome the indifference of non-economics majors at the college level.
Interdisciplinary Studies Of The Market Order
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Author : Peter J. Boettke, Professor, George Mason University
language : en
Publisher: Rowman & Littlefield
Release Date : 2017-05-31
Interdisciplinary Studies Of The Market Order written by Peter J. Boettke, Professor, George Mason University and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-05-31 with Political Science categories.
This volume brings together original research from the Austrian, Virginia, and Bloomington schools of political economy to analyse central elements of market process and market order.
The Constitution Of Markets
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Author : Viktor Vanberg
language : en
Publisher: Psychology Press
Release Date : 2001
The Constitution Of Markets written by Viktor Vanberg and has been published by Psychology Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Business & Economics categories.
This book examines the institutional dimension of markets and the rules and institutions that condition the operation of market economies.
Money And The Economic Process
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Author : Sheila C. Dow
language : en
Publisher: Edward Elgar Publishing
Release Date : 1993
Money And The Economic Process written by Sheila C. Dow and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Business & Economics categories.
The common ground between money's role in the economic process at the regional, national and international levels has been highlighted by developments in Europe. Money and the Economic Process provides a theoretical perspective for understandin that role, and working out policy solutions within a changing behavioural and institutional environment.