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Reflections on The economics of time and ignorance coming of age

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  • Stephan Boehm

Abstract

The re-appraisal after 25 years of The Economics of Time and Ignorance by G.P. O’Driscoll and M.J. Rizzo seeks to accomplish three things: (1) to situate the beginnings of the book against the background of the “doom and gloom” scenario of economics in the late 1970s; (2) to gauge reviewers’ response on its publication; (3) to consider its impact both on Austrian economics and mainstream economics; and, finally, to speculate on its ramifications for the future of Austrian economics. Copyright Springer Science+Business Media New York 2013

Suggested Citation

  • Stephan Boehm, 2013. "Reflections on The economics of time and ignorance coming of age," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 26(1), pages 7-15, March.
    • Handle: RePEc:kap:revaec:v:26:y:2013:i:1:p:7-15
    DOI: 10.1007/s11138-012-0199-z
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    References listed on IDEAS

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    1. Peter Bauer, 1987. "The Disregard of Reality," Cato Journal, Cato Journal, Cato Institute, vol. 7(1), pages 29-42, Spring/Su.
    2. Peter Boettke & David Prychitko, 2011. "1985: A defining year in the history of modern Austrian economics," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 24(2), pages 129-139, June.
    3. Koppl, Roger & Whitman, Douglas Glen, 2004. "Rational-choice hermeneutics," Journal of Economic Behavior & Organization, Elsevier, vol. 55(3), pages 295-317, November.
    4. John B. Davis, 2008. "The turn in recent economics and return of orthodoxy," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 32(3), pages 349-366, May.
    5. Coddington, Alan, 1982. "Deficient Foresight: A Troublesome Theme in Keynesian Economics," American Economic Review, American Economic Association, vol. 72(3), pages 480-487, June.
    6. Paul Lewis, 2011. "Far from a nihilistic crowd: The theoretical contribution of radical subjectivist Austrian economics," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 24(2), pages 185-198, June.
    7. R. Koppl, 2006. "Austrian economics at the cutting edge," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 19(4), pages 231-241, December.
    8. Peter J. Boettke (ed.), 2010. "Handbook on Contemporary Austrian Economics," Books, Edward Elgar Publishing, number 12822.
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    More about this item

    Keywords

    Austrian economics; Subjectivist turn; Nihilism; Ergodic axiom; Subjectivity within objectivism; Mainstream heterodoxy; A14; B25; B41; B53;
    All these keywords.

    JEL classification:

    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian

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