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The Economics of Ignorance and Coordination
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The Economics of Ignorance and Coordination

Subjectivism and the Austrian School of Economics

9781848441040 Edward Elgar Publishing
Thierry Aimar, Assistant Professor of Economics, Sciences Po Paris, University of Nancy 2, the Paris 1 Panthéon-Sorbonne and ESSEC Business School Paris, France
Publication Date: 2009 ISBN: 978 1 84844 104 0 Extent: 320 pp
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.

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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
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
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