Hayek's Political Economy: The Socio-economics of Order

Hayek's Political Economy: The Socio-economics of Order

by Steve Fleetwood
     
 

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In a society where no central agency coordinates the human activity of producing, selling and buying, why is there order and not chaos? This fundamental question has taxed generations of economists.  Hayek's notion of spontaneous order goes some way to providing an answer.<BR>Hayek's Political Economy argues that afer explicitly rejecting positivism, Hayek… See more details below

Overview

In a society where no central agency coordinates the human activity of producing, selling and buying, why is there order and not chaos? This fundamental question has taxed generations of economists.  Hayek's notion of spontaneous order goes some way to providing an answer.<BR>Hayek's Political Economy argues that afer explicitly rejecting positivism, Hayek was free to embrace reality and offer an explanation of the process involved in bringing about order.

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Booknews
Retraces the development of Vienna-born British economist Fredrich A. Hayek (b. 1899) between his 1936 rejection of mainstream assumptions and his 1960 incorporation of social structures to explain how order can prevail in a system of buying and selling that has no central governing agency. Argues that after following several dead-end approaches, he realized that knowledge is communicated among millions of individuals not by price alone, but also by a network of social rules of conduct. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Product Details

ISBN-13:
9781134794744
Publisher:
Taylor & Francis
Publication date:
02/01/2013
Series:
Routledge Studies in the History of Economics
Sold by:
Barnes & Noble
Format:
NOOK Book
Pages:
192
File size:
2 MB

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