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Economics as mechanism: The mind as machine in Hayek's sensory order

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  • David Tuerck

Abstract

InThe Sensory Order, Friedrich A. Hayek describes the human mind as an “apparatus of classification” that evolves through experience and that reaches decisions by “modeling” the alternative courses of action that are available to it. Hayek's mechanistic conception of mind argues aginst the possibility of central planning and against the cogency of any rule that denigrates “subjective” decision making by employers or other economic agents. As implied by Gödel's proof, no brain, human or mechanical, can ever be sufficiently complex to explain itself. There will therefore always be certain knowledge and rules that cannot be articulated to the satisfaction of a central planner or tribunal. Copyright Kluwer Academic Publishers 1995

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  • David Tuerck, 1995. "Economics as mechanism: The mind as machine in Hayek's sensory order," Constitutional Political Economy, Springer, vol. 6(3), pages 281-292, October.
    • Handle: RePEc:kap:copoec:v:6:y:1995:i:3:p:281-292
    DOI: 10.1007/BF01303407
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    1. Hayek, F. A., 1991. "The Fatal Conceit," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226320663 edited by Bartley, III, W. W..
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    Cited by:

    1. Thierry Aimar, 2008. "Self-ignorance: Towards an extension of the Austrian paradigm," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 21(1), pages 23-43, March.

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