Hayek: From Economics as Equilibrium Analysis to Economics as Social Theory
Forthcoming in R. Garrison and N.P. Barry (ed., 2014), The Elgar Companion to Hayek. Cheltenham: Edward Elgar.
24 Pages Posted: 9 Jan 2015
Date Written: December 2014
This paper outlines the development of Hayek's account of the working of decentralised economies, focusing in particular on his move away from using the notion of economic equilibrium towards an emphasis on the notion of 'order'.
Keywords: Hayek, order, equilibrium, ontology, Austrian economics.
JEL Classification: B2, B3, B4, B30, B31, B40, B41
Suggested Citation: Suggested Citation