A Hayekian Explanation of Hayek's 'Epistemic Turn'
Economic Thought, 2015
The Center for the History of Political Economy Working Paper Series No. No. 2014-04
27 Pages Posted: 7 Mar 2014 Last revised: 19 Dec 2018
Date Written: February 15, 2014
The present essay investigates F.A. Hayek’s epistemology and his methodology of sciences of complex phenomena for implications relevant to an explanation of Hayek’s own so-called “epistemic turn.” The thesis defended here is that Hayek’s dissatisfaction with his technical economics – in particular, his business cycle project – prompted, in keeping with his evolutionary theory of belief revision, the development of an approach less susceptible to the same disappointment.
Keywords: Hayek, epistemic turn, methodology, complex phenomena, explanation of the principle
JEL Classification: B2, B25, B3, B31, B4, B41, B53
Suggested Citation: Suggested Citation