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The Economics of Ignorance and Coordination

Subjectivism and the Austrian School of Economics Thierry Aimar, Assistant Professor of Economics, Sciences Po Paris, University of Nancy 2, the Paris 1 Panthéon-Sorbonne and ESSEC Business School Paris, France
This book clarifies the specific nature of the Austrian theory and restores the unity and open-mindedness of the Austrian school in general. The intention is not to offer a collection of different or parallel ideas, but rather to retrace, from a pedagogical and constructive perspective, the various stages of the construction of a well-founded theoretical edifice: from Ludwig von Mises to Murray Rothbard, from Friedrich Hayek to Israel M. Kirzner and from Lachmann to Lavoie. The book is a reconstitution of the way Austrian ideas and concepts organize themselves in a common structure.
Extent: 320 pp
Hardback Price: £91.00 Web: £81.90
Publication Date: 2009
ISBN: 978 1 84844 104 0
Availability: In Stock
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  • Economics and Finance
  • Austrian Economics
This book clarifies the specific nature of the Austrian theory and restores the unity and open-mindedness of the Austrian school in general. The intention is not to offer a collection of different or parallel ideas, but rather to retrace, from a pedagogical and constructive perspective, the various stages of the construction of a well-founded theoretical edifice: from Ludwig von Mises to Murray Rothbard, from Friedrich Hayek to Israel M. Kirzner and from Lachmann to Lavoie. The book is a reconstitution of the way Austrian ideas and concepts organize themselves in a common structure.

Providing a clear distinction between economic analysis and doctrine, this in-depth and unified theoretical book will be valuable to postgraduate students and researchers of economics. It is a great introduction to major Austrian theories including money, the firm, cognitive psychology, comparative economic systems and economic information.
Contents: Part I: Foundations Introduction 1. Mises and the Austrian Tradition 2. Praxeology, Axiomatic System of Economics 3. Action and Interpersonal Exchanges: The Limits of the A Priori Approach Part II: Catallaxy, A Response to Ignorance 4. Market Formation 5. A World of Discovery 6. Tendency Towards Equilibrium Part III: Applications and Debates 7. The Debate on Collectivism 8. Austrian Theory of the Business Cycle 9. Welfare Economics: Workable Definitions Appendix: Schumpeter and the Austrian Tradition General Conclusion Bibliography Index