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This collection of essays from one of the major Austrian economists working in the world today brings together in one place some of his key writings on a variety of economic issues.
This highly topical book presents a new theory on the characteristics of entrepreneurial knowledge. It explores the recent shift among professional economists and scholars in their evaluation of the debate of socialism. Socialism, Economic Calculation and Entrepreneurship presents an application of Israel M. Kirzner's theory of entrepreneurship to the theory of the impossibility of socialism. It discusses the influence of the fall of socialism, with particular reference to the evolution of economic thought.
Time pressure, speed and the desire for instant consumption pervade accounts of contemporary lives. Why is it that people feel pressed for time, in what ways have societies changed to create this condition, and with what implications? This book examines critical contentions in the field of time and society, ranging from the emergence and dominance of ‘clock time’ and time discipline, the time pressures associated with consumer culture, through to technological innovation and the acceleration of everyday lives. Through extensive analysis of empirical studies of the changing ways in which people organise and experience home, work, leisure, consumption and personal relationships, time pressure is shown to be a problem of the coordination and synchronization of activities. Appreciation of temporal rhythms – formed and reproduced through the organisation and performance of social practices – is necessary to tackle the challenges of coordination, and offers new avenues for analysing social issues such as sustainable consumption, health and well-being. This book is essential reading for all of those interested in social change, consumption and time, including researchers and students from across the social sciences.
This book discusses the trajectories of creating specialized autonomous units. An analysis of the mechanisms and measures taken for granting autonomy to specialized autonomous units and subsequently to coordinating them back is described. The book shows a range of patterns in the dynamics of specialization and coordination over 25 years.
There are two ways people coordinate their actions: through cooperation, exercised by economic power, and through control, exercised by political power. When economic and political power are held by the same people, the result is stagnation; when those who hold economic power are not the same people who hold political power, the result is progress. This book presents the ways in which economic power and political power can be separated, and how they can remain so, by analyzing the nature of power and the differences between economic and political power. The book then discusses the history of economic and political power, including hunter-gatherer societies, agrarian societies, and modern commercial and industrial societies. This background lends insight into why political and economic power were typically held by the same people, and why recently those without political power have been able to acquire economic power. Incentives play a key role in understanding how those two types of power can become separated, and why there is always a tendency for them to recombine. But ideas also play a crucial role, including the influence of the Enlightenment, on the progress that has occurred in the last several hundred years.
This book explores the life and work of Austrian-British economist, political economist, and social philosopher, Friedrich Hayek. Set within a context of the recent financial crisis, alongside the renewed interest in Hayek and the Hayek-Keynes debate, the book introduces the main themes of Hayek’s thought. These include the division of knowledge, the importance of rules, the problems with planning and economic management, and the role of constitutional constraints in enabling the emergence of unplanned order in the market by limiting the perverse incentives and distortions in information often associated with political discretion. Key to understanding Hayek's development as a thinker is his emphasis on the knowledge problem that economic decision makers face and how alternative institutional arrangements either hinder or assist them in overcoming that epistemic dilemma. Hayek saw order emerging from individual action and responsibility under the appropriate institutional order that itself emerges from actors discovering new and better ways to coordinate their behavior. This book will be of interest to all those keen to gain a deeper understanding of this great 20th century thinker in economics.
This book analyzes the structure of coordination from two perspectives: the symmetrical properties the construction imposes on its conjuncts, and how conjuncts interact with other categories outside coordination with respect to agreement and other grammatical phenomena. A substantial amount of data represented in this book are taken from varieties of Spanish. Unlike English, Spanish has a rich pattern of overt agreement between the subject and the verb, between nouns and adjectives, and also between clitics and lexical DP objects and indirect objects. Spanish agreement paradigms reveal very interesting patterns of agreement mismatch that provide important theoretical insights. Unless otherwise specified, it can be assumed that non-English examples are from Spanish. IX CHAPTER #1 INTRODUCTION Although coordination has figured more or less steadily in the Generative tradition beginning with Chornsky's (1957) Conjunction Transformation (later known as Conjunction Reduction), until recently, the two prevailing areas of research had been ellipsis (see, for example, Van Oirsouw 1987) and the semantic interpretation of conjuncts.' The internal structure of coordination was usually left unanalyzed, or assumed to be ternary branching, as in (I).
Adam Smith and Friedrich Hayek saw the liberty principle as focal and accorded it strong presumption, but their wisdom invokes how little we can know. In Knowledge and Coordination, Daniel Klein re-examines the elements of economic liberalism. He interprets Hayek's notion of spontaneous order from the aestheticized perspective of a Smithian spectator, real or imagined. Klein addresses issues economists have had surrounding the notion of coordination by distinguishing the concatenate coordination of Hayek, Ronald Coase, and Michael Polanyi from the mutual coordination of Thomas Schelling and game theory. Clarifying the meaning of cooperation, he resolves debates over whether entrepreneurial innovation enhances or upsets coordination, and thus interprets entrepreneurship in terms of discovery or new knowledge. Beyond information, knowledge entails interpretation and judgment, emergent from tacit reaches of the "society of mind," itself embedded in actual society. Rejecting homo economicus in favor of the "deepself," Klein offers a distinctive formulation of knowledge economics, entailing asymmetric interpretation, judgment, entrepreneurship, error, and correction-and kinds of discovery-which all serve the cause of liberty. This richness of knowledge joins agent and analyst, and meaningful theory depends on tacit affinities between the two. Knowledge and Coordination highlights the recurring connections to underlying purposes and sensibilities, of analysts as well as agents. Behind economic talk of market communication and social error and correction lies Klein's Smithian allegory, with the allegorical spectator representing a conception of the social. Knowledge and Coordination instructs us to declare such allegory. Knowledge and Coordination is an authoritative take on how, by confessing the looseness of its judgments and the by-and-large status of its claims, laissez-faire liberalism makes its economic doctrines more robust and its presumption of liberty more viable.
This in-depth, multidisciplinary analysis of the latest research adds a new theoretical interpretation to the role of variability in movement behaviour. Many scientific disciplines are represented in the text and each chapter examines a range of topics.