IDEAS home Printed from https://ideas.repec.org/a/prg/jnlpol/v2019y2019i2id1220p198-214.html
   My bibliography  Save this article

Zakladatel chicagské školy Frank Hyneman Knight
[Frank Hyneman Knight, the Founder of the Chicago School]

Author

Listed:
  • Marek Loužek

Abstract

Frank Hyneman Knight made a significant contribution to neoclassical economics. The paper aims to examine his economic theory and political philosophy. The first part outlines the life of Frank Knight. The second part examines his thesis titled "Risk, Uncertainty and Profit" (1921). The third part analyses "The Economic Organization" (1933). The fourth part discusses the book "The Ethics of Competition" (1935). The fifth part takes a look at the political philosophy in the book "Freedom and Reform" (1947). The sixth part highlights the significance of Knight for the Chicago School.

Suggested Citation

  • Marek Loužek, 2019. "Zakladatel chicagské školy Frank Hyneman Knight [Frank Hyneman Knight, the Founder of the Chicago School]," Politická ekonomie, Prague University of Economics and Business, vol. 2019(2), pages 198-214.
    • Handle: RePEc:prg:jnlpol:v:2019:y:2019:i:2:id:1220:p:198-214
    DOI: 10.18267/j.polek.1220
    as

    Download full text from publisher

    File URL: http://polek.vse.cz/doi/10.18267/j.polek.1220.html
    Download Restriction: free of charge
    File URL: http://polek.vse.cz/doi/10.18267/j.polek.1220.pdf
    Download Restriction: free of charge
    File URL: https://libkey.io/10.18267/j.polek.1220?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Mehta, Nimai, 2003. "Frank Knight and the Productivity of Capital: Another Piece of the Puzzle," Journal of the History of Economic Thought, Cambridge University Press, vol. 25(4), pages 487-503, December.
    2. Barzel, Yoram, 1987. "Knight's 'Moral Hazard' Theory of Organization," Economic Inquiry, Western Economic Association International, vol. 25(1), pages 117-120, January.
    3. J. Patrick Raines & Clarence R. Jung, 1986. "Knight on Religion and Ethics As Agents of Social Change: An Essay to Commemorate the Centennial of Frank H. Knight's Birth," American Journal of Economics and Sociology, Wiley Blackwell, vol. 45(4), pages 429-439, October.
    4. Sherryl Davis Kasper, 1993. "Frank Knight's Case for Laissez Faire: The Patrimony of the Social Philosophy of the Chicago School," History of Political Economy, Duke University Press, vol. 25(3), pages 413-433, Fall.
    5. Langlois, Richard N & Cosgel, Metin M, 1993. "Frank Knight on Risk, Uncertainty, and the Firm: A New Interpretation," Economic Inquiry, Western Economic Association International, vol. 31(3), pages 456-465, July.
    6. Frank H. Knight, 1923. "The Ethics of Competition," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 37(4), pages 579-624.
    7. D. Wade Hands, 2006. "Frank Knight and pragmatism," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 13(4), pages 571-605.
    8. Brooke, Geoffrey T. F., 2010. "Uncertainty, Profit And Entrepreneurial Action: Frank Knight’S Contribution Reconsidered," Journal of the History of Economic Thought, Cambridge University Press, vol. 32(2), pages 221-235, June.
    9. Tony Fu-Lai Yu, 2002. "The economics of Frank H. Knight: An Austrian interpretation," Forum for Social Economics, Springer;The Association for Social Economics, vol. 31(2), pages 1-23, March.
    10. Knight, Frank H., 1923. "The Ethics of Competition," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 37, pages 579-624, August.
    11. Philippe Fontaine, 1999. "Classical Political Economy between Two Fires: Jean-Baptiste Say and Frank H. Knight on the Enterprise Economy," History of Political Economy, Duke University Press, vol. 31(1), pages 1-28, Spring.
    12. Dalibor Roháč, 2012. "Knight, Habermas and Rawls on freedom, personhood and constitutional choice," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 19(1), pages 23-43, November.
    13. Andrew Farrant, 2004. "Frank Knight, Worst-Case Theorizing, and Economic Planning: Socialism as Monopoly Politics," History of Political Economy, Duke University Press, vol. 36(3), pages 497-504, Fall.
    14. Tony Fu-Lai Yu, 2002. "The economics of Frank H. Knight: An Austrian interpretation," Forum for Social Economics, Taylor & Francis Journals, vol. 31(2), pages 1-23, January.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Henrik Egbert & Teodor Sedlarski & Aleksandar B. Todorov, 2021. "Foundations of contemporary economics: Frank H. Knight on uncertainty, capital theory, and the beginnings of the Chicago school," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 74-90.
    2. D. Patinkin, 1995. "The training of an economist," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 48(195), pages 359-395.
    3. Marina Bianchi & Sergio Nisticò, 2018. "Shackle: an enquirer into choice," Working Papers 2018-03, Universita' di Cassino, Dipartimento di Economia e Giurisprudenza.
    4. Andrew Lister, 2017. "Markets, desert, and reciprocity," Politics, Philosophy & Economics, , vol. 16(1), pages 47-69, February.
    5. Gita Surie & Allan Ashley, 2008. "Integrating Pragmatism and Ethics in Entrepreneurial Leadership for Sustainable Value Creation," Journal of Business Ethics, Springer, vol. 81(1), pages 235-246, August.
    6. Ross B. Emmett, 2014. "Economics Is Not All of Life," Econ Journal Watch, Econ Journal Watch, vol. 11(2), pages 144-152, May.
    7. Tim Rooth, 2006. "Revisiting the mature economy: Britain, 1860-1939," Business History, Taylor & Francis Journals, vol. 48(1), pages 119-126.
    8. Luca Fiorito & Massimiliano Vatiero, 2018. "Positional goods and social welfare: a note on George Pendleton Watkins’ neglected contribution," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 25(3), pages 460-472, May.
    9. Besancenot, Damien & Vranceanu, Radu, 2020. "Profession and deception: Experimental evidence on lying behavior among business and medical students," Journal of Economic Behavior & Organization, Elsevier, vol. 179(C), pages 175-187.
    10. Schubert, Christian, 2015. "Opportunity And Preference Learning," Economics and Philosophy, Cambridge University Press, vol. 31(2), pages 275-295, July.
    11. Bartling, Björn & Özdemir, Yagiz, 2023. "The limits to moral erosion in markets: Social norms and the replacement excuse," Games and Economic Behavior, Elsevier, vol. 138(C), pages 143-160.
    12. Graafland, J.J., 2010. "Why Status Effects Need not Justify Egalitarian Income Policy," Other publications TiSEM 80b51970-7e15-499e-9b39-8, Tilburg University, School of Economics and Management.
    13. Levy, David M, 2021. "Statistical discrimination when group members are aware of their stereotype: Learning from David Hume and Adam Smith," Journal of Economic Behavior & Organization, Elsevier, vol. 181(C), pages 86-93.
    14. Fuller, Ted, 2017. "Anxious relationships: The unmarked futures for post-normal scenarios in anticipatory systems," Technological Forecasting and Social Change, Elsevier, vol. 124(C), pages 41-50.
    15. Metcalfe, John S. & Ramlogan, Ronnie & Uyarra, E., 2002. "Economic Development and the Competitive Process," Centre on Regulation and Competition (CRC) Working papers 30612, University of Manchester, Institute for Development Policy and Management (IDPM).
    16. Ron Martin & Peter Sunley, 2015. "Towards a Developmental Turn in Evolutionary Economic Geography?," Regional Studies, Taylor & Francis Journals, vol. 49(5), pages 712-732, May.
    17. Oisin Suttle, 2022. "The puzzle of competitive fairness," Politics, Philosophy & Economics, , vol. 21(2), pages 190-227, May.
    18. Stan Metcalfe, 2014. "Capitalism and evolution," Journal of Evolutionary Economics, Springer, vol. 24(1), pages 11-34, January.
    19. Jael, Paul, 2019. "Does Marginal Productivity Mean Anything in Real Economic Life ?," MPRA Paper 97968, University Library of Munich, Germany, revised Jan 2020.
    20. Stan Metcalfe, "undated". "Capitalism and evolution," Openloc Working Papers 1201, Public policies and local development.

    More about this item

    Keywords

    Chicago school of economics; Frank Knight; neoclassical economics; price theory;
    All these keywords.

    JEL classification:

    • B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Wicksellian)
    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prg:jnlpol:v:2019:y:2019:i:2:id:1220:p:198-214. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Stanislav Vojir (email available below). General contact details of provider: https://edirc.repec.org/data/uevsecz.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.