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Enterpreneurship is central to the market process, and yet most theories of it fail to tackle the problem of how economic agents learn from their experience. This book redresses this by systematically applying the ideas of Karl Popper. It treats the entrepeneur as a theorist who develops conjectures which are then tested by exposure to the market, in an effort to eliminate errors. This is a critical aspect of the development of new ventures, as most entrepeneurial ideas turn out to be mistakes, at least in their original form.
This work examines the contribution of the Austrian school to our understanding of markets as economic processes.
1. THE RACIAL ANALOGY
This volume demonstrates the variety and creativity of American economics and the links between American economic thought and its non- European context. It contains selected papers from the 1996 History of Economics Society Conference.
In this book, Rhodes provides a nonevaluative account of coercion. He begins with a thorough discussion of the charge that coercion is an essentially contested concept. He argues that effective communication of regulations pertaining to human conduct requires a basic level of clarity as to the kind of conduct being regulated. Accordingly, he argues that before we prescribe or proscribe conduct, we should describe it. In short, he maintains that wherever possible description should precede prescription and proscription. Rhodes begins his descriptive project by providing a fundamental account of human motivation. Upon this foundation he supports his distinctions between threats, offers, throff...
Argues that the various aspects of the "counterculture" of the 1960s had a significant impact on American religious institutions.
Israel Kirzner is the foremost proponent of the modern Austrian theory of the market process. This book offers substantive insights in support of this theory and a new historical interpretation of how the ideas of modern Austrians emerged.
An important contribution to the rapidly growing field of gay literary criticism and scholarship, this volume contains well-written and intelligently argued essays on the the homosexual tradition in Western literature. The first book of its kind, Essays on Gay Literature investigates the ways in which homosexuality has been viewed by a variety of authors from the Middle Ages to the present, including William Shakespeare, Christopher Marlowe, E. M. Forster, James Merrill, Henry James, and William Faulkner.
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.