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Author: F. A. Hayek Publisher: University of Chicago Press ISBN: 022608969X Category : Business & Economics Languages : en Pages : 469
Book Description
In addition to his groundbreaking contributions to pure economic theory, F. A. Hayek also closely examined the ways in which the knowledge of many individual market participants could culminate in an overall order of economic activity. His attempts to come to terms with the “knowledge problem” thread through his career and comprise the writings collected in the fifteenth volume of the University of Chicago Press’s Collected Works of F. A. Hayek series. The Market and Other Orders brings together more than twenty works spanning almost forty years that consider this question. Consisting of speeches, essays, and lectures, including Hayek’s 1974 Nobel lecture, “The Pretense of Knowledge,” the works in this volume draw on a broad range of perspectives, including the philosophy of science, the physiology of the brain, legal theory, and political philosophy. Taking readers from Hayek’s early development of the idea of spontaneous order in economics through his integration of this insight into political theory and other disciplines, the book culminates with Hayek’s integration of his work on these topics into an overarching social theory that accounts for spontaneous order in the variety of complex systems that Hayek studied throughout his career. Edited by renowned Hayek scholar Bruce Caldwell, who also contributes a masterly introduction that provides biographical and historical context, The Market and Other Orders forms the definitive compilation of Hayek’s work on spontaneous order.
Author: F. A. Hayek Publisher: University of Chicago Press ISBN: 022608969X Category : Business & Economics Languages : en Pages : 469
Book Description
In addition to his groundbreaking contributions to pure economic theory, F. A. Hayek also closely examined the ways in which the knowledge of many individual market participants could culminate in an overall order of economic activity. His attempts to come to terms with the “knowledge problem” thread through his career and comprise the writings collected in the fifteenth volume of the University of Chicago Press’s Collected Works of F. A. Hayek series. The Market and Other Orders brings together more than twenty works spanning almost forty years that consider this question. Consisting of speeches, essays, and lectures, including Hayek’s 1974 Nobel lecture, “The Pretense of Knowledge,” the works in this volume draw on a broad range of perspectives, including the philosophy of science, the physiology of the brain, legal theory, and political philosophy. Taking readers from Hayek’s early development of the idea of spontaneous order in economics through his integration of this insight into political theory and other disciplines, the book culminates with Hayek’s integration of his work on these topics into an overarching social theory that accounts for spontaneous order in the variety of complex systems that Hayek studied throughout his career. Edited by renowned Hayek scholar Bruce Caldwell, who also contributes a masterly introduction that provides biographical and historical context, The Market and Other Orders forms the definitive compilation of Hayek’s work on spontaneous order.
Author: F. A. Hayek Publisher: University of Chicago Press ISBN: 0226321215 Category : Business & Economics Languages : en Pages : 281
Book Description
“These essays . . . bring great learning and . . . intelligence to bear upon economic and social issues of central importance to our era.” —Henry Hazlitt, Newsweek In this collection of writings, Nobel laureate Friedrich A. Hayek discusses topics from moral philosophy and the methods of the social sciences to economic theory as different aspects of the same central issue: free markets versus socialist planned economies. First published in the 1930s and 40s, these essays continue to illuminate the problems faced by developing and formerly socialist countries. F. A. Hayek, recipient of the Medal of Freedom in 1991 and winner of the Nobel Memorial Prize in Economics in 1974, taught at the University of Chicago, the University of London, and the University of Freiburg. Among his other works published by the University of Chicago Press is The Road to Serfdom, now available in a special fiftieth anniversary edition. “There is much interesting and valuable material in this meaty . . . book which must ultimately help the world make up its mind on a vital issue: to plan or not to plan?” —S. E. Harris, The New York Times “Those who disagree with him cannot afford to ignore him . . . This is especially true of a book like the present one.” —George Soule, Nation
Author: Bernard E. Harcourt Publisher: Harvard University Press ISBN: 0674971329 Category : Business & Economics Languages : en Pages : 337
Book Description
It is widely believed today that the free market is the best mechanism ever invented to efficiently allocate resources in society. Just as fundamental as faith in the free market is the belief that government has a legitimate and competent role in policing and the punishment arena. This curious incendiary combination of free market efficiency and the Big Brother state has become seemingly obvious, but it hinges on the illusion of a supposedly natural order in the economic realm. The Illusion of Free Markets argues that our faith in “free markets” has severely distorted American politics and punishment practices. Bernard Harcourt traces the birth of the idea of natural order to eighteenth-century economic thought and reveals its gradual evolution through the Chicago School of economics and ultimately into today’s myth of the free market. The modern category of “liberty” emerged in reaction to an earlier, integrated vision of punishment and public economy, known in the eighteenth century as “police.” This development shaped the dominant belief today that competitive markets are inherently efficient and should be sharply demarcated from a government-run penal sphere. This modern vision rests on a simple but devastating illusion. Superimposing the political categories of “freedom” or “discipline” on forms of market organization has the unfortunate effect of obscuring rather than enlightening. It obscures by making both the free market and the prison system seem natural and necessary. In the process, it facilitated the birth of the penitentiary system in the nineteenth century and its ultimate culmination into mass incarceration today.
Author: F. A. Hayek Publisher: University of Chicago Press ISBN: 022678200X Category : Business & Economics Languages : en Pages : 612
Book Description
A new edition of F. A. Hayek’s three-part opus Law, Legislation, and Liberty, collated in a single volume In this critical entry in the University of Chicago’s Collected Works of F. A. Hayek series, political philosopher Jeremy Shearmur collates Hayek’s three-part study of law and liberty and places Hayek’s writings in careful historical context. Incisive and unrestrained, Law, Legislation, and Liberty is Hayek at his late-life best, making it essential reading for understanding the philosopher’s politics and worldview. These three volumes constitute a scaling up of the framework offered in Hayek’s famed The Road to Serfdom. Volume 1, Rules and Order, espouses the virtues of classical liberalism; Volume 2, The Mirage of Social Justice, examines the societal forces that undermine liberalism and, with it, liberalism’s capacity to induce “spontaneous order”; and Volume 3, The Political Order of a Free People, proposes alternatives and interventions against emerging anti-liberal movements, including a rule of law that resides in stasis with personal freedom. Shearmur’s treatment of this challenging work—including an immersive new introduction, a conversion of Hayek’s copious endnotes to footnotes, corrections to Hayek’s references and quotations, and the provision of translations to material that Hayek cited only in languages other than English—lends it new importance and accessibility. Rendered anew for the next generations of scholars, this revision of Hayek’s Law, Legislation, and Liberty is sure to become the standard.
Author: Edgar E. Peters Publisher: John Wiley & Sons ISBN: 9780471139386 Category : Business & Economics Languages : en Pages : 296
Book Description
The latest developments in chaos theory - from an industry expert Chaos and Order in the Capital Markets was the first book to introduce and popularize chaos as it applies to finance. It has since become the classic source on the topic. This new edition is completely updated to include the latest ripples in chaos theory with new chapters that tie in today's hot innovations, such as fuzzy logic, neural nets, and artificial intelligence. Critical praise for Peters and the first edition of Chaos and Order in the Capital Markets "The bible of market chaologists." - BusinessWeek "Ed Peters has written a first-class summary suitable for any investment professional or skilled investor." - Technical Analysis of Stocks & Commodities "It ranks among the most provocative financial books of the past few years. Reading this book will provide a generous payback for the time and mental energy expended." - Financial Analysts Journal This second edition of Chaos and Order in the Capital Markets brings the topic completely up to date with timely examples from today's markets and descriptions of the latest wave of technology, including genetic algorithms, wavelets, and complexity theory. Chaos and Order in the Capital Markets was the very first book to explore and popularize chaos theory as it applies to finance. It has since become the industry standard, and is regarded as the definitive source to which analysts, investors, and traders turn for a comprehensive overview of chaos theory. Now, this invaluable reference - touted by BusinessWeek as "the bible of market chaologists" - has been updated and revised to bring you the latest developments in the field. Mainstream capital market theory is based on efficient market assumptions, even though the markets themselves exhibit characteristics that are symptomatic of nonlinear dynamic systems. As it explores - and validates - this nonlinear nature, Chaos and Order repudiates the "random walk" theory and econometrics. It shifts the focus away from the concept of efficient markets toward a more general view of the forces underlying the capital market system. Presenting new analytical techniques, as well as reexamining methods that have been in use for the past forty years, Chaos and Order offers a thorough examination of chaos theory and fractals as applied to investments and economics. This new edition includes timely examples from today's markets and descriptions of cutting-edge technologies-genetic algorithms, wavelets, complexity theory-and hot innovations, such as fuzzy logic and artificial intelligence. Beyond the history of current capital market theory, Chaos and Order covers the crucial characteristics of fractals, the analysis of fractal time series through rescaled range analysis (R/S), the specifics of fractal statistics, and the definition and analysis of chaotic systems. It offers an in-depth exploration of: * Random walks and efficient markets - the development of the efficient market hypothesis (EMH) and modern portfolio theory * The linear paradigm - why it has failed * Nonlinear dynamic systems - phase space, the Henon Map, Lyapunov exponents * Applying chaos and nonlinear methods - neural networks, genetic algorithms * Dynamical analysis of time series - reconstructing a phase space, the fractal dimension Tonis Vaga's Coherent Market Hypothesis - the theory of social imitation, control parameters, Vaga's implementations Plus, Chaos and Order now contains a Windows-compatible disk including data sets for running analyses described in the appendices. Written by a leading expert in the field, Chaos and Order in the Capital Markets has all the information you need for a complete, up-to-date look at chaos theory. This latest edition will undoubtedly prove to be as invaluable as the first.
Author: Mary L. Hirschfeld Publisher: Harvard University Press ISBN: 0674988604 Category : Business & Economics Languages : en Pages : 270
Book Description
Economists investigate the workings of markets and tend to set ethical questions aside. Theologians often dismiss economics, losing insights into the influence of market incentives on individual behavior. Mary L. Hirschfeld bridges this gap by showing how a humane economy can lead to the good life as outlined in the thought of St. Thomas Aquinas.
Author: David McNally Publisher: BRILL ISBN: 9004201572 Category : Political Science Languages : en Pages : 309
Book Description
"Monsters of the Market" investigates modern capitalism through the prism of the body panics it arouses. Examining "Frankenstein," Marx s "Capital" and zombie fables from sub-Saharan Africa, it offers a novel account of the cultural and corporeal economy of global capitalism.
Author: F. A. Hayek
Author: F. A. Hayek
Author: Friedrich August Hayek
Author: F. A. Hayek
Author: Bernard E. Harcourt
Author: F. A. Hayek
Author: Thierry Foucault
Author: Friedrich August Hayek
Author: Edgar E. Peters
Author: Mary L. Hirschfeld
Author: David McNally