Post by Sapphire Capital on Jul 16, 2008 1:47:22 GMT 4
Institutions as Knowledge Capital: Ludwig M. Lachmann's Interpretative Institutionalism
NICOLAI J. FOSS
Affiliation Unknown
GIAMPAOLO GARZARELLI
University of the Withingyersrand - School of Economics and Business Sciences
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Cambridge Journal of Economics, Vol. 31, Issue 5, pp. 789-804, 2007
Abstract:
This article revisits the socioeconomic theory of the Austrian School economist Ludwig M. Lachmann. By showing that the common claim that Lachmann's idiosyncratic (i.e., eclectic and multidisciplinary) approach to economics entails nihilism is unfounded, it reaches the following conclusions. (1) Lachmann held a sophisticated institutional position vis-à-vis economics that anticipated developments in contemporary new institutional economics. (2) Lachmann's sociological and economic reading of institutions offers insights for the problem of coordination.
papers.ssrn.com/sol3/papers.cfm?abstract_id=1146008
NICOLAI J. FOSS
Affiliation Unknown
GIAMPAOLO GARZARELLI
University of the Withingyersrand - School of Economics and Business Sciences
--------------------------------------------------------------------------------
Cambridge Journal of Economics, Vol. 31, Issue 5, pp. 789-804, 2007
Abstract:
This article revisits the socioeconomic theory of the Austrian School economist Ludwig M. Lachmann. By showing that the common claim that Lachmann's idiosyncratic (i.e., eclectic and multidisciplinary) approach to economics entails nihilism is unfounded, it reaches the following conclusions. (1) Lachmann held a sophisticated institutional position vis-à-vis economics that anticipated developments in contemporary new institutional economics. (2) Lachmann's sociological and economic reading of institutions offers insights for the problem of coordination.
papers.ssrn.com/sol3/papers.cfm?abstract_id=1146008