Knight contra mundum

  • David Cowan
Part of the Great Thinkers in Economics book series (GTE)


There is an element in Knight’s career that gives the impression he was against the world. He founded the Chicago school, but they subsequently took somewhat different paths. He had close affinities with the Austrian School, but had some serious points of difference. He shared some of the social concerns of Keynes, and yet despite even sharing some fundamental assumptions, Knight ended up diametrically opposed to his conclusions. While he had great interest in socialism and Marxism, going back to his early study visit to Germany, he was greatly opposed to such schools of thought. It seemed that it was indeed Knight the prophet contra mundum, or at least at odds with the world of intellectual economic endeavour. This chapter will look at these oppositions, except for Chicago which was examined briefly in the opening chapter, but let us first consider the Austrians.


Interest Rate Business Cycle Capital Good Production Period Austrian School 
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Copyright information

© The Editor(s) (if applicable) and The Author(s) 2016

Authors and Affiliations

  • David Cowan
    • 1
  1. 1.Boston CollegeBostonUSA

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