Skip to main content
Log in

Information and Knowledge: Austrian Economics in Search of its Uniqueness

  • Published:
The Review of Austrian Economics Aims and scope Submit manuscript

Abstract

The Austrian School of Economics since WWII has increasingly claimed a unique position within the scientific community of economists. This paper argues that the most persuasive way to make this claim to uniqueness is to focus on the distinction scholars in the Austrian tradition place between information and knowledge in their work. In other words, it is the epistemic-cognitive turn that the Austrian school took in the wake of the socialist calculation debate that separates the school from other branches of neo-classicism within economic science that constitutes its best case for analytical uniqueness.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Similar content being viewed by others

References

  • Akerlof, G. (1984) An Economic Theorist's Book of Tales. New York: Cambridge University Press.

    Google Scholar 

  • Boettke, P. (1998) “Economic Calculation: The Austrian Contribution to Political Economy.” Advances in Austrian Economics, 6: 131-158.

    Google Scholar 

  • Boettke, P. (Ed.) (2000) Socialism and the Market: The Socialist Calculation Debate Revisited. 9 volumes. London: Routledge.

    Google Scholar 

  • Boettke, P. and Leeson, P. (2003) “The Austrian School of Economics (1950-2000).” In: Biddle, J. and Samuels, W. (Eds.) Blackwell Companion to the History of Economic Thought. Oxford: Basil Blackwell Publishers.

    Google Scholar 

  • Boettke, P. and Vaughn, K. (2002) “Knight and the Austrians on Capital and the Problems of Socialism.” History of Political Economy, 34(1): 153-175.

    Google Scholar 

  • Boulding, K. (1948) “Samuelson's Foundations: The Role of Mathematics in Economics.” Journal of Political Economy, 56: 187-199.

    Google Scholar 

  • Caplan, B. (2001a) “Rational Ignorance vs. Rational Irrationality.” Kyklos, 54(1): 3-26.

    Google Scholar 

  • Caplan, B. (2001b) “Rational Irrationality and the Microfoundations of Political Failure.” Public Choice, 107(3/4): 311-331.

    Google Scholar 

  • Dolan, E. (Ed.) (1976) The Foundations of Modern Austrian Economics. Kansas City: Sheed, Andrews and McMeel.

    Google Scholar 

  • Hayek, F. A. (1937) “Economics and Knowledge,” reprinted in Hayek 1948.

  • Hayek, F. A. (1941) “The Meaning of Competition,” reprinted in Hayek 1948.

  • Hayek, F. A. (1945) “The Use of Knowledge in Society,” reprinted in Hayek 1948.

  • Hayek, F. A. (1948) Individualism and Economic Order. Chicago: University of Chicago Press.

    Google Scholar 

  • Hayek, F. A. (1960) The Constitution of Liberty. Chicago: University of Chicago Press.

    Google Scholar 

  • Hayek, F. A. (1973-79) Law, Legislation and Liberty. 3 volumes. Chicago: University of Chicago Press.

    Google Scholar 

  • Kirzner, I. (1973) Competition and Entrepreneurship. Chicago: University of Chicago Press.

    Google Scholar 

  • Kirzner, I. (1979) Perception, Opportunity and Profit. Chicago: University of Chicago Press.

    Google Scholar 

  • Lachmann, L. (1977) Capital, Expectations and the Market Process. Kansas City: Sheed, Andrews and McMeel.

    Google Scholar 

  • Lavoie, D. (1985a) Rivalry and Central Planning. New York: Cambridge University Press.

    Google Scholar 

  • Lavoie, D. (1985b) National Economic Planning: What is Left? Washington, DC: CATO Institute.

    Google Scholar 

  • Littlechild, S. (1977) “Change Rules, OK?” Inaugural Lecture delivered in the University of Birmingham on 28 May 1977.

  • Machlup, F. (1962) The Production and Distribution of Knowledge in the United States. Princeton: Princeton University Press.

    Google Scholar 

  • Mises, L. (1922) Socialism: An Economic and Sociological Analysis. Indianapolis: Liberty Fund, 1981.

    Google Scholar 

  • Mises, L. (1966) Human Action: A Treatise on Economics. Chicago: Henry Regnery.

    Google Scholar 

  • O'Driscoll, G. and Rizzo, M. (1985) The Economics of Time and Ignorance. Oxford: Basil Blackwell Publishing.

    Google Scholar 

  • Robbins, L. (1932) The Nature and Significance of Economic Science. London: Macmillan.

    Google Scholar 

  • Rothbard, M. (1962) Man, Economy and State. 2 volumes. Princeton: Van Nostrand.

    Google Scholar 

  • Salerno, J. (1990) “Ludwig von Mises as a Social Rationalist.” Review of Austrian Economics, 4: 26-54.

    Google Scholar 

  • Salerno, J. (1993) “Mises and Hayek Dehomogenized.” Review of Austrian Economics, 6(2): 113-146.

    Google Scholar 

  • Steckbeck, M. and Boettke, P. (2001) “Akerlof Problems, Hayekian Solutions.” Unpublished manuscript.

  • Stiglitz, J. (1995) Whither Socialism? Cambridge, MA: MIT Press.

    Google Scholar 

  • Vaughn, K. (1994) Austrian Economics in America. New York: Cambridge University Press.

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Rights and permissions

Reprints and permissions

About this article

Cite this article

Boettke, P.J. Information and Knowledge: Austrian Economics in Search of its Uniqueness. The Review of Austrian Economics 15, 263–274 (2002). https://doi.org/10.1023/A:1021190719156

Download citation

  • Issue Date:

  • DOI: https://doi.org/10.1023/A:1021190719156

Navigation