Competition Economic Planning And The Knowledge Problem

Author : Israel M. Kirzner
Publisher : Collected Works of Israel M. K
ISBN 13 : 9780865978621
Total Pages : 0 pages
Book Rating : 4.2X/5 ( download)

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Download or read book Competition, Economic Planning, and the Knowledge Problem written by Israel M. Kirzner and published by Collected Works of Israel M. K. This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Competition, Economic Planning, and the Knowledge Problem expands on the ideas Kirzner first discussed in Competition and Entrepreneurshipthe role of the entrepreneur and its relation to the determination of prices and the coordination of individuals plansas well as economic planning, the knowledge problem, market-process theory, and the parts played by information, knowledge and advertising. It includes a paper on F. A. Hayeks theory of market coordination and the Austrian business-cycle theoryseen now for the first time in its original English. As a whole, the volume expresses Kirzners understanding that economics cannot be separated from its human element. Competition is a rivalrous process of entrepreneurial activity in which individuals and firms discover, innovate, and outdo each other. Kirzner discusses why this dynamic view of the economy is so important to understand, particularly in the contexts of economic planning and the workings of competitive markets. Over the course of this books nineteen articles and one monograph, Kirzner also stresses another point: though knowledge is present in all economic interaction, it is also dispersed in the economy such that no individual mind can ever centralize it all. This knowledge problem implies, as Mises and Hayek have argued, the impossibility of central planning. Kirzners contribution is to show that, ultimately, it is only the free, competitive entrepreneurial process that can overcome this problem through generation of knowledge that enables the most efficient allocation of scarce resources.

Author : Don Lavoie
Publisher : Cato Institute
ISBN 13 : 193718420X
Total Pages : 308 pages
Book Rating : 4.09/5 ( download)

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Download or read book National Economic Planning written by Don Lavoie and published by Cato Institute. This book was released on 1985-06-01 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: Don Lavoie argues that the radical Left's enthusiasm for planning has been a tragic mistake and that progressive social change requires the abandonment of this traditional view. Lavoie argues that planning—whether Marxism, economic democracy, or industrial policy—can only disrupt social and economic coordination. He challenges both radicals and their critics to begin reformulating our whole notion of progressive economic change without reliance on central planning. National Economic Planning: What is Left? will challenge thinkers and policymakers of every political persuasion.

Author : Israel M. Kirzner
Publisher : Ludwig von Mises Institute
ISBN 13 : 161016282X
Total Pages : 252 pages
Book Rating : 4.21/5 ( download)

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Download or read book Economic Point of View written by Israel M. Kirzner and published by Ludwig von Mises Institute. This book was released on 1960 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Leigh Phillips
Publisher : Verso Books
ISBN 13 : 178663516X
Total Pages : 257 pages
Book Rating : 4.67/5 ( download)

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Download or read book The People's Republic of Walmart written by Leigh Phillips and published by Verso Books. This book was released on 2019-03-05 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Are multi-national corporations like Walmart and Amazon laying the groundwork for international socialism? For the left and the right, major multinational companies are held up as the ultimate expressions of free-market capitalism. Their remarkable success appears to vindicate the old idea that modern society is too complex to be subjected to a plan. And yet, as Leigh Phillips and Michal Rozworski argue, much of the economy of the West is centrally planned at present. Not only is planning on vast scales possible, we already have it and it works. The real question is whether planning can be democratic. Can it be transformed to work for us? An engaging, polemical romp through economic theory, computational complexity, and the history of planning, The People’s Republic of Walmart revives the conversation about how society can extend democratic decision-making to all economic matters. With the advances in information technology in recent decades and the emergence of globe-straddling collective enterprises, democratic planning in the interest of all humanity is more important and closer to attainment than ever before.

Author : Esteban F. Thomsen
Publisher : Routledge
ISBN 13 : 1134915578
Total Pages : 159 pages
Book Rating : 4.76/5 ( download)

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Download or read book Prices and Knowledge written by Esteban F. Thomsen and published by Routledge. This book was released on 2002-01-22 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Author : Israel M Kirzner
Publisher : Routledge
ISBN 13 : 1134915500
Total Pages : 254 pages
Book Rating : 4.07/5 ( download)

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Download or read book The Meaning of the Market Process written by Israel M Kirzner and published by Routledge. This book was released on 2002-09-11 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Author : A. Zimbalist
Publisher : Springer Science & Business Media
ISBN 13 : 940095638X
Total Pages : 183 pages
Book Rating : 4.84/5 ( download)

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Download or read book Comparative Economic Systems written by A. Zimbalist and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: 3 edge, methods and theory. I turn now to some of my own reflections on this score. Some Reflections My first proposition is that if we are interested in analyzing the performance and dynamic properties of the world's economies, it is only at significant peril that comparative economists can overlook noneconomic or "political" factors. This is not to say that it is illegitimate to abstract from non-economic factors for particular purposes; rather, such abstraction should occur only with cogni zance of the influences being suppressed. I have argued elsewhere that the analytical compromise in suppressing noneconomic variables is greater for the study of planned than for market economies. [7] Borrowing from Polanyi [8], it is claimed that in market sys tems the economic sphere is disembedded from (separate and not subordinate to) the political, social and cultural spheres, while in planned systems the economic sphere is embedded in the noneconomic spheres. To be sure, market economies are strongly affected by political and cultural factors, but planned economies have and often exercise the potential to let political goals dominate in making production, allocational, or distributional choices. Indeed, it is difficult in practice to separate out what are political and what are economic decisions in planned systems.

Author : Frédéric Sautet
Publisher : Routledge
ISBN 13 : 1134582935
Total Pages : 202 pages
Book Rating : 4.38/5 ( download)

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Download or read book An Entrepreneurial Theory of the Firm written by Frédéric Sautet and published by Routledge. This book was released on 2000-05-11 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: This original, provocative work encompasses a wealth of existing literature and leads it in a new direction. It will inspire economic scholars particularly within the fields of Austrian economies and the theory of the firm.

Author : Peter J. Boettke
Publisher : Psychology Press
ISBN 13 : 9780415195867
Total Pages : 352 pages
Book Rating : 4.61/5 ( download)

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Download or read book Socialism and the Market written by Peter J. Boettke and published by Psychology Press. This book was released on 1999-12-23 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: This set contains the material necessary for a full understanding of the Socialist Calculation debate, as well as giving critical insight into the relative merits of Capitalism, Socialism and the alternative Market Socialism.

Author : Israel M. Kirzner
Publisher : Collected Works of Israel M. K
ISBN 13 : 9780865978614
Total Pages : 0 pages
Book Rating : 4.11/5 ( download)

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Download or read book Discovery, Capitalism, and Distributive Justice written by Israel M. Kirzner and published by Collected Works of Israel M. K. This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discovery, Capitalism, and Distributive Justice makes Kirzner's case for the idea that entrepreneurial profit is both essential for an economy and profoundly just. Asserting that the problem with standard criticism of capitalist income distribution is a failure to see capitalism as a "discovery procedure," Kirzner argues that production and subsequent profit are neither automatic nor guaranteed. This important contribution to the larger debate of the capitalist system clarifies core economic issues, so that the positive science of economics can enlighten our understanding of justice in capitalist distribution. Successful production always results from the discovery of an opportunity to obtain new gains from trade, i.e., the discovery of entrepreneurial profit. Kirzner shows that profit is the just and fair possession of its discoverer. This is what he calls the "finders-keepers" rule: "The finders-keepers rule asserts that an unowned object becomes the justly owned property of the first person who, discovering its availability and its potential value, takes possession of it." Richard Ebeling reviewed the work in 1989, saying, "the heart of Professor Kirzner's argument is that every discovery of a new opportunity is the appropriation of that which had not existed before a human mind had seen the potential in that object." Kirzner's monograph is complemented here by three important articles on the subject of economic justice, a critique of Kirzner's theory, and a reply from Kirzner to that critique. Kirzner's finders-keepers rule of entrepreneurial profit and market distribution stands as one of the foremost defenses of the distribution of income and profit in the free-enterprise system. Israel M. Kirzner is a leading economist in the Austrian School and Professor Emeritus of Economics at New York University. Peter J. Boettke is University Professor of Economics and Philosophy at George Mason University and the BB&T Professor for the Study of Capitalism at the Mercatus Center. His publications include Living Economics, The Handbook of Contemporary Austrian Economics, and The Elgar Companion to Austrian Economics. He has been the editor of The Review of Austrian Economics since 1998. Frédéric Sautet is Associate Professor at The Catholic University of America, School of Business and Economics. He is a specialist in Austrian market process theory and teaches entrepreneurship studies. He has taught at George Mason University of Paris Dauphine. He is the author of An Entrepreneurial Theory of the Firm and has published widely on entrepreneurship.