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Knowledge and Coordination: A Liberal Interpretation

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In Knowledge and Coordination, Daniel Klein reexamines the elements of economic liberalism. He interprets Hayek's notion of s... Weiterlesen
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Beschreibung

In Knowledge and Coordination, Daniel Klein reexamines the elements of economic liberalism. He interprets Hayek's notion of spontaneous order from the aestheticized perspective of a Smithian spectator and addresses issues economists have had surrounding the notion of coordination by distinguishing the ideas of Hayek, Ronald Coase, and Michael Polanyi from the mutual coordination of Thomas Schelling and game theory.

Autorentext

Daniel Klein is Professor of Economics at George Mason University and Associate Fellow at the Ratio Institute (Stockholm). He is the founder and the chief editor of Econ Journal Watch.



Klappentext

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.



Zusammenfassung
Too often in economics the understanding of how things work by and large--not axiomatically or categorically--and the idea that we generally cannot know the economic system well enough to intervene into it beneficially are done less than justice. Yet they were Adam Smiths central messages for public policy, and they authorized a presumption of liberty, thus exceptions to liberty should be treated as exceptional and bear the burden of proof. In Knowledge and Coordination, Daniel Klein reexamines the elements of economic liberalism. He interprets Friedrich Hayeks notion of spontaneous order from the aestheticized perspective of an allegorical Smithian spectator. 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. Entrepreneurship is interpreted in terms of discovery, or new knowledge. He points out that beyond information, knowledge entails interpretation and judgment. Rejecting homo economicus, Klein offers a distinctive formulation of knowledge economics, entailing asymmetric interpretation, judgment, entrepreneurship, error and correction. This richness of knowledge joins agent and analyst, and meaningful theory depends on tacit affinities between the two, even common contacts with an allegorical spectator. Knowledge and Coordination illuminates the recurring connections to underlying purposes and sensibilities, of analysts as well as agents. Knowledge and Coordination is an imaginative and insightful 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.

Inhalt

Acknowledgments/A Note about Citation Practice Preface Some Smith-Hayek Homiletics 1. Rinkonomics: A Window on Spontaneous Order 2. Discovery Factors of Economic Freedom About This Book 3. From a Raft in the Currents of Liberal Economics The Two Coordinations 4. Concatenate Coordination and Mutual Coordination 5. Joy and the Matrix of Concatenate and Mutual 6. Light Shed by the Two Coordinations Asymmetric Interpretation 7. Discovery and the Deepself 8. Experiment on Entrepreneurial Discovery 9. Let's Be Pluralist on Entrepreneurship 10. Knowledge Flat-talk: A Conceit of Supposed Experts and a Seduction to All Studies in Spontaneous Order 11. Urban Transit: Planning and the Two Coordinations 12. The Integrity of You and Your Trading Partners: The Demand for and Supply of Assurance 13. Outstripped by Unknowns: Intervention and the Pace of Technology Rethinking Our Way 14. Unfolding the Allegory of Market Communication and Social Error and Correction 15. Conclusion: Liberalism These Past 250 Years Appendix Chapters 16. Owning Up to and Properly Locating Our Looseness: A Critique of Israel Kirzner on Coordination and Discovery 17. Some Fragments 18. In Defense of Dwelling in Great Minds: A Few Quotations from Michael Polanyi's The Study of Man Glossary References Index

Produktinformationen

Titel: Knowledge and Coordination: A Liberal Interpretation
Untertitel: A Liberal Interpretation
Autor:
EAN: 9780199794249
ISBN: 978-0-19-979424-9
Digitaler Kopierschutz: Adobe-DRM
Format: E-Book (pdf)
Herausgeber: Oxford University Press
Genre: Philosophie
Anzahl Seiten: 384
Veröffentlichung: 01.06.2011
Jahr: 2011
Untertitel: Englisch
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