Expectations and the Meaning of Institutions

Essays in Economics by Ludwig M. Lachmann

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Autor(en)	Ludwig M. Lachmann	Verlag	Routledge
Herausgeber	Don Lavoie
Sachgebiet(e)	Österreichische Schule, English Books	ISBN	9780415107129
1994, 344 Seiten, Festeinband/Hardcover

This collection of Ludwig Lachmann's essays challenges contemporary attitudes to economics and seeks to apply an interpretive approach to the discipline. The essays, spanning six decades, address a wide range of issues in microeconomics, macroeconomics, methodology and the history of thought. They outline Lachmann's approach to economics, with the emphasis on the meaning of human institutions in a world of unpredictable change, rather than on quantitative and stable relations. Collecting Lachmann's most important work together for the first time, it includes two essays never previously published.

Table of Content:

Editor’s Note

Acknowledgements

INTRODUCTION: EXPECTATION AND THEM MEANING OF INSTITUTIONS by Don Lavoie

Part I - UNCERTAINTY, INVESTMENT AND ECONOMIC CRISES

1 - COMMODITY STOCKS AND EQUILIBRIUM [1936]

2 - UNCERTAINTY AND LIQUIDITY-PREFERENCE [1937]

3 - INVESTMENT AND COSTS OF PRODUCTION [1938]

4 - COMMODITY STOCKS IN THE TRADE CYCLE [1938] with F. Snapper

5 - ON CRISIS AND ADJUSTMENT [1939]

Part II - CAPITAL AND INVESTMENT REPERCUSSIONS

6 - ON THE MEASUREMENT OF CAPITAL [1941]>

7 - FINANCE C APITALISM ? [1944]

8 - A NOTE ON THE ELASTICITY OF EXPECTATIONS [1945]

9 - INVESTMENT REPERCUSSIONS [1948]

Part III - DIAGNOSING THE AUSTRIAN SCHOOL'S 'GREAT DEPRESSION'

10 - AUSTRIAN ECONOMICS UNDER FIRE - The Hayek-Sraffa duel in retrospect [1986]

11 - THE SALVAGE OF IDEAS - Problems of the revival of Austrian economic thought [1982]

12 - JOHN MAYNARD KEYNES - A view from an Austrian window [1983]

13 - REFLECTIONS ON HAYEKIAN CAPITAL THEORY [1975]

Part IV - SUBJECTIVISM AND THE INTERPRETATION OF INSTITUTIONS

14 - CARL MENGER AND THE INCOMPLETE REVOLUTION OF SUBJECTIVISM [1978]

15 - VICISSITUDES OF SUBJECTIVISM AND THE DILEMMA OF THE THEORY OF CHOICE [1978]

16 - FROM MISES TO SHACKLE

17 - G.L.S.SHACKLE’S PLACE IN THE HISTORY OF SUBJECTIVIST THOUGHT [1990]

18 - THE FLOW OF LEGISLATION AND THE PERMANENCE OF THE LEGAL ORDER [1979]

19 - THE MONETARY SYSTEM OF A MARKET ECONOMY [1986]

20 - SPECULATIVE MARKETS AND ECONOMIC COMPLEXITY [1988]

21 - AUSTRIAN ECONOMICS -A hermeneutic approach [1991]

APPENDIX: Bibliography of works by Ludwig M.Lachmann - Compiled by William Tulloh

NOTES

REFERENCES

INDEX

Source: Routledge