Hayek's Challenge

Caldwell, Bruce

doi:10.7208/chicago/9780226091921.001.0001

Cited by 108 publications

(32 citation statements)

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“…63 As Caldwell notes, Hayek used 'spontaneous' and cognate terms in 'Economics and Knowledge ' (1937) and other writings of the 1930s and 1940s. 64 But Hayek did not use the operative term 'spontaneous order'. Some of Hayek's locutions-e.g., spontaneous action and spontaneous interaction-did not of themselves imply the idea of spontaneously forming (and spontaneously continuing) social order, although certain of his locutions may suggest the idea.…”

Section: Social Ordersmentioning

confidence: 98%

Friedrich Hayek and Michael Polanyi in Correspondence

Jacobs

Mullins

2015

History of European Ideas

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FriedrichHayek and Michael Polanyi corresponded with each other for the best part of thirty years. They had shared interests that included science, social science, economics, epistemology, history of ideas and political philosophy. Studying their correspondence and related writings, this article shows that Hayek and Polanyi were committed Liberals but with different understandings of liberty, the forces that endanger liberty, and the policies required to rescue it.

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Section: Social Ordersmentioning

confidence: 98%

Friedrich Hayek and Michael Polanyi in Correspondence

Jacobs

Mullins

2015

History of European Ideas

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“…The German historical school and the original American institutionalists claimed that, because of the historical specificity of economic institutions, there were few (if any) universal economic laws (Caldwell, 2005;Hodgson, 2001). But they failed to provide a developed theoretical framework to deal with this problem.…”

Section: R O G E R K O P P L E T a Lmentioning

confidence: 99%

Economics for a creative world

Koppl

Kauffman²,

Felin³

et al. 2014

Journal of Institutional Economics

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Abstract. Drawing on current biology, we argue that the phase space of economic evolution is not stable. Thus, there are no entailing laws of economic dynamics. In this sense, economic dynamics are creative and the economy is not a causal system. Because economic dynamics are creative, the implicit frame of analysis for the econosphere changes in unprestatable and non-algorithmic ways. New-venture, social, and political entrepreneurs solve the frame problem of the econosphere. Economic evolution is unpredictable, not entailed, and the number of things traded ('cambiodiversity') increases over time. Our metatheoretic framework points out how institutions, entrepreneurs, and disparate actors enable what we call 'novelty intermediation'. We provide examples of novelty intermediation from Rennaissance Italy to Silicon Valley. Our framework does not automatically provide clear policy prescriptions in part because our main result is negative. It may nevertheless provide a useful prolegomenon to a future economics fit for a creative world.[T]he matter with which the chemist deals is the same always: but economics, like biology, deals with a matter, of which the inner nature and constitution, as well as the outer form, are constantly changing (Alfred Marshall). * Email: rkoppl@syr.edu * * Email: stukauffman@gmail.com * * * Email: teppo.felin@sbs.ox.ac.uk * * * * Email: Giuseppe.Longo@ens.frWe thank two anonymous referees for helpful comments. We thank Geoffrey Hodgson and Richard Langlois for help and encouragement. This paper emerged from many conversations each of us has had over the years. We regret that we cannot properly acknowledge everyone who contributed to our efforts through these many conversations.

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“…These worlds generally contain "agents, an environment, and rules that define and govern agent-agent, agent-environment, and environment-environment interactions." 297 Artificial life experiments then consist of allowing the world to evolve in order to see what happens. Here, too, emergence refers to "the appearance of higher-level properties and behaviors" possessed by the "whole" rather than by any of its individual parts, the point being that "an air molecule is not a tornado and a neuron is not conscious."…”

Section: Afterwordmentioning

confidence: 99%

Clausewitzian Friction and Future War Revised Edition

Watts¹

2004

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Hayek's Challenge

Cited by 108 publications

References 0 publications

Friedrich Hayek and Michael Polanyi in Correspondence

Friedrich Hayek and Michael Polanyi in Correspondence

Economics for a creative world

Clausewitzian Friction and Future War Revised Edition

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