Discovery Factors of Economic Freedom: Respondence, Epiphany, and Serendipity

UNCERTAINTY AND ECONOMIC EVOLUTION: ESSAYS IN HONOR OF ARMEN ALCHIAN, John R. Lott, Jr., ed., London: Routledge, 1997

Posted: 24 Feb 2004

See all articles by Daniel B. Klein

Daniel B. Klein

George Mason University - Department of Economics; George Mason University - Mercatus Center

Abstract

Economists place a heavy emphasis on equilibrium model building, and this emphasis leads them to think of economic freedom as the freedom to choose in a neatly characterized setting. Three other facets of economic freedom, facets that tend to be eclipsed by model building, are the freedom to respond flexibly to opportunities (which I associate with Coase), the freedom to discover opportunities by epiphany (associated with Kirzner), and the freedom to discover opportunities by serendipity (associated with Alchian). Neglect of these discovery factors tends toward an under-appreciation of freedom.

Note: This is a description of the book and not the actual excerpt.

Suggested Citation

Klein, Daniel B., Discovery Factors of Economic Freedom: Respondence, Epiphany, and Serendipity. UNCERTAINTY AND ECONOMIC EVOLUTION: ESSAYS IN HONOR OF ARMEN ALCHIAN, John R. Lott, Jr., ed., London: Routledge, 1997, Available at SSRN: https://ssrn.com/abstract=473429

Daniel B. Klein (Contact Author)

George Mason University - Department of Economics ( email )

4400 University Drive
Fairfax, VA 22030
United States

HOME PAGE: http://economics.gmu.edu/people/dklein

George Mason University - Mercatus Center ( email )

3434 Washington Blvd., 4th Floor
Arlington, VA 22201
United States

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Abstract Views
672
PlumX Metrics