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The Economics Of Time And Ignorance
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Book Synopsis The Economics of Time and Ignorance by : Gerald P O'Driscoll Jnr
Download or read book The Economics of Time and Ignorance written by Gerald P O'Driscoll Jnr and published by Routledge. This book was released on 2002-09-11 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economics of Time and Ignorance is one of the seminal works in modern Austrian economics. Its treatment of historical time and of uncertainty helped set the agenda for the remarkable revival of work in the Austrian tradition which has led to an ever wider interest in the once heretical ideas of Austrian economics. It is here reprinted with a substantial new introductory essay, outlining the major developments in the area since its original publication a decade ago.
Book Synopsis The Economics of Time and Ignorance by : Gerald P. O'Driscoll
Download or read book The Economics of Time and Ignorance written by Gerald P. O'Driscoll and published by . This book was released on 2002 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Austrian Economics Re-examined by : Gerald P O'Driscoll Jr
Download or read book Austrian Economics Re-examined written by Gerald P O'Driscoll Jr and published by Routledge. This book was released on 2014-12-05 with total page 469 pages. Available in PDF, EPUB and Kindle. Book excerpt: Austrian Economics Re-examined: The Economics of Time and Ignorance is an expanded version of the 1996 edition of The Economics of Time and Ignorance. This work is a classic statement of the role of subjectivism, radical uncertainty and change through real time in Austrian economics specifically, and in modern economics more generally. The new book contains the full text and Introductions of the earlier edition as well as the comprehensive previously-unpublished essay "What is Austrian Economics?" and a new Introduction. The essay is a comprehensive overview of the central themes of the book from a somewhat different perspective than in the book itself. It supplements the analysis in the book. The new Introduction explains that the 2007-8 financial crisis and recent developments in behavioural economics have made the book more relevant than ever before. Austrian Economic Re-examined develops and systematizes the fundamental principles of the Austrian tradition to the analysis of rational expectations, business cycles, monetary theory competition and monopoly, and capital theory. The Open Access version of this book, available at https://www.taylorfrancis.com/books/oa-edit/10.4324/9781315776736, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.
Book Synopsis Time, Ignorance, and Uncertainty in Economic Models by : Donald W. Katzner
Download or read book Time, Ignorance, and Uncertainty in Economic Models written by Donald W. Katzner and published by University of Michigan Press. This book was released on 1998 with total page 502 pages. Available in PDF, EPUB and Kindle. Book excerpt: Formal economic analysis using Shackle's ideas of historical time and nonprobabilistic uncertainty
Book Synopsis Economics of Time and Ignorance by : Gerald P. O'Driscoll (jr.)
Download or read book Economics of Time and Ignorance written by Gerald P. O'Driscoll (jr.) and published by . This book was released on 1984-09-01 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Economics of Time and Ignorance by : Gerald P O'Driscoll Jnr
Download or read book The Economics of Time and Ignorance written by Gerald P O'Driscoll Jnr and published by Routledge. This book was released on 2002-09-11 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economics of Time and Ignorance is one of the seminal works in modern Austrian economics. Its treatment of historical time and of uncertainty helped set the agenda for the remarkable revival of work in the Austrian tradition which has led to an ever wider interest in the once heretical ideas of Austrian economics. It is here reprinted with a substantial new introductory essay, outlining the major developments in the area since its original publication a decade ago.
Download or read book Economics of the 1% written by John Weeks and published by Anthem Press. This book was released on 2014-01-20 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: How much do economists really know? In most cases, they claim to have profound knowledge but in fact understand little and obscure almost everything. Most people are convinced that economics should be left to the ‘experts’, when they themselves are perfectly capable of understanding it. This book explains that mainstream economics serves the interests of the rich through its logical inconsistency and unabashedly reactionary conclusions. John F. Weeks exposes the myths of mainstream economics and explains in straightforward language why current policies fail to serve the vast majority of people in the United States, Europe and elsewhere. Their failure to serve the interests of the many results from their devoted service to the few.
Book Synopsis Ignorance and Uncertainty by : Olivier Compte
Download or read book Ignorance and Uncertainty written by Olivier Compte and published by Cambridge University Press. This book was released on 2019 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: Proposes novel methods to incorporate ignorance and uncertainty into economic modeling without complex mathematics.
Book Synopsis Austrian Economics in America by : Karen I. Vaughn
Download or read book Austrian Economics in America written by Karen I. Vaughn and published by Cambridge University Press. This book was released on 1998-01-28 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the development of the ideas of the new Austrian school from its beginnings in Vienna in the 1870s to the present. It focuses primarily on showing how the coherent theme that emerges from the thought of Carl Menger, Ludwig von Mises, Friedrich Hayek, Ludwig Lachmann, Israel Kirzner and a variety of new younger Austrians is an examination of the implications of time and ignorance (or processes and knowledge) for economic theory.
Book Synopsis The Economics of Edwin Chadwick by : Robert B. Ekelund
Download or read book The Economics of Edwin Chadwick written by Robert B. Ekelund and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Economists owe a great debt to Ekelund and Price for making us aware of Edwin Chadwick's seminal contributions. Chadwick lived in the middle of the 19th century, but he anticipated many of the theoretical and practical advances that culminated in the law and economics revolution of the late 20th century. These include Coase's analysis of social cost and Demsetz's proposal for franchise bidding in natural monopolies. Read the summary of Chadwick's ideas about railroads and consider that Britain adopted many of them but only more than a century later (while the US continues to wallow in ignorance). The book is full of similar examples where Chadwick's prescience is extraordinary. Economists, legal scholars and practitioners, especially those working at the intersection of law and economics, will want to read this book.' – Sam Peltzman, University of Chicago, US Sir Edwin Chadwick (1800–1890) is hardly a household name among economists, although he is a well-known hero to sanitation engineers and utilitarian social reformers. His brilliant and cunning ideas relating to contemporary economic policy are illuminated for the first time in this pioneering study. The authors detail Chadwick's sophisticated conceptions of moral hazard, common pool problems, asymmetric information, and theory of competition, all of which differ starkly from those promulgated by Adam Smith and other classical economists. Also examined are Chadwick's views on government versus market role in dealing with problems created by natural monopoly, and whether some or all market problems justify government regulation or alterations of property rights. The authors investigate Chadwick's utilitarian approach to labor, business cycles, and economic growth, contrasting his modern view with those of his classical economic contemporaries. Chadwick's enormous output and cutting-edge methods undoubtedly establish him as an original and trenchant thinker in economic matters as well as a prophetic voice on contemporary issues in economics. This unique look at his less familiar research will interest academic regulatory economists, sociologists, students and scholars of law and economics, and all those interested in the fundamentals of social reform.
Book Synopsis The Difficulty of Applying the Economics of Time and Ignorance by : Solomon M. Stein
Download or read book The Difficulty of Applying the Economics of Time and Ignorance written by Solomon M. Stein and published by . This book was released on 2013 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The Economics of Time & Ignorance" (1985) is a key text within Austrian economics. Among the so-called "third generation" of modern Austrian economists, however, the book seems to have had very little impact compared to the notable influence it had upon the proceeding generation. Several possible reasons are considered, including a disagreement with the substantive claims made in "Time & Ignorance" or the possibility that "Time & Ignorance" has nothing to offer this generation. We challenge these potential explanations and, argue, that the root cause of this seeming neglect is the movement by this generation towards applied research, an area where "Time & Ignorance" has relatively less to offer.
Download or read book Economyths written by David Orrell and published by Icon Books Ltd. This book was released on 2010-05-06 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the inability of wealth to make us happier, to our catastrophic blindness to the credit crunch, "Economyths" reveals ten ways in which economics has failed us all. Forecasters predicted a prosperous year in 2008 for financial markets - in one influential survey the average prediction was for an eleven per cent gain. But by the end of the year, the Standard and Poor's 500 index - a key economic barometer - was down 38 per cent, and major economies were plunging into recession. Even the Queen asked - Why did no one see it coming? An even bigger casualty was the credibility of economics, which for decades has claimed that the economy is a rational, stable, efficient machine, governed by well-understood laws. Mathematician David Orrell traces the history of this idea from its roots in ancient Greece to the financial centres of London and New York, shows how it is mistaken, and proposes new alternatives. "Economyths" explains how the economy is the result of complex and unpredictable processes; how risk models go astray; why the economy is not rational or fair; why no woman (until 2009) had ever won the Nobel Prize for economics; why financial crashes are less Black Swans than part of the landscape; and, finally, how new ideas in mathematics, psychology, and environmentalism are helping to reinvent economics.
Book Synopsis Deliberate Ignorance by : Ralph Hertwig
Download or read book Deliberate Ignorance written by Ralph Hertwig and published by MIT Press. This book was released on 2021-03-02 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: Psychologists, economists, historians, computer scientists, sociologists, philosophers, and legal scholars explore the conscious choice not to seek information. The history of intellectual thought abounds with claims that knowledge is valued and sought, yet individuals and groups often choose not to know. We call the conscious choice not to seek or use knowledge (or information) deliberate ignorance. When is this a virtue, when is it a vice, and what can be learned from formally modeling the underlying motives? On which normative grounds can it be judged? Which institutional interventions can promote or prevent it? In this book, psychologists, economists, historians, computer scientists, sociologists, philosophers, and legal scholars explore the scope of deliberate ignorance.
Book Synopsis Prices and Knowledge by : Esteban F. Thomsen
Download or read book Prices and Knowledge written by Esteban F. Thomsen and published by Routledge. This book was released on 2002-01-22 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Economics in One Lesson by : Henry Hazlitt
Download or read book Economics in One Lesson written by Henry Hazlitt and published by Crown Currency. This book was released on 2010-08-11 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: With over a million copies sold, Economics in One Lesson is an essential guide to the basics of economic theory. A fundamental influence on modern libertarianism, Hazlitt defends capitalism and the free market from economic myths that persist to this day. Considered among the leading economic thinkers of the “Austrian School,” which includes Carl Menger, Ludwig von Mises, Friedrich (F.A.) Hayek, and others, Henry Hazlitt (1894-1993), was a libertarian philosopher, an economist, and a journalist. He was the founding vice-president of the Foundation for Economic Education and an early editor of The Freeman magazine, an influential libertarian publication. Hazlitt wrote Economics in One Lesson, his seminal work, in 1946. Concise and instructive, it is also deceptively prescient and far-reaching in its efforts to dissemble economic fallacies that are so prevalent they have almost become a new orthodoxy. Economic commentators across the political spectrum have credited Hazlitt with foreseeing the collapse of the global economy which occurred more than 50 years after the initial publication of Economics in One Lesson. Hazlitt’s focus on non-governmental solutions, strong — and strongly reasoned — anti-deficit position, and general emphasis on free markets, economic liberty of individuals, and the dangers of government intervention make Economics in One Lesson every bit as relevant and valuable today as it has been since publication.
Book Synopsis Why Nations Fail by : Daron Acemoglu
Download or read book Why Nations Fail written by Daron Acemoglu and published by Currency. This book was released on 2013-09-17 with total page 546 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine? Is it culture, the weather, geography? Perhaps ignorance of what the right policies are? Simply, no. None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra Leone, are mired in poverty and violence? Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities. The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions—with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories. Based on fifteen years of original research Acemoglu and Robinson marshall extraordinary historical evidence from the Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, including: - China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West? - Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority? - What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s breakthrough ideas on the interplay between inclusive political and economic institutions? Why Nations Fail will change the way you look at—and understand—the world.
Book Synopsis Good Economics for Hard Times by : Abhijit V. Banerjee
Download or read book Good Economics for Hard Times written by Abhijit V. Banerjee and published by PublicAffairs. This book was released on 2019-11-12 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: The winners of the Nobel Prize show how economics, when done right, can help us solve the thorniest social and political problems of our day. Figuring out how to deal with today's critical economic problems is perhaps the great challenge of our time. Much greater than space travel or perhaps even the next revolutionary medical breakthrough, what is at stake is the whole idea of the good life as we have known it. Immigration and inequality, globalization and technological disruption, slowing growth and accelerating climate change--these are sources of great anxiety across the world, from New Delhi and Dakar to Paris and Washington, DC. The resources to address these challenges are there--what we lack are ideas that will help us jump the wall of disagreement and distrust that divides us. If we succeed, history will remember our era with gratitude; if we fail, the potential losses are incalculable. In this revolutionary book, renowned MIT economists Abhijit V. Banerjee and Esther Duflo take on this challenge, building on cutting-edge research in economics explained with lucidity and grace. Original, provocative, and urgent, Good Economics for Hard Times makes a persuasive case for an intelligent interventionism and a society built on compassion and respect. It is an extraordinary achievement, one that shines a light to help us appreciate and understand our precariously balanced world.
