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

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  • 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
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    References listed on IDEAS

    as
    1. 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.
    2. 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.
    3. 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.
    4. 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.
    5. 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.
    6. 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.
    7. 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.
    8. Barzel, Yoram, 1987. "Knight's 'Moral Hazard' Theory of Organization," Economic Inquiry, Western Economic Association International, vol. 25(1), pages 117-120, January.
    9. 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.
    10. 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.
    11. 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.
    12. 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.
    13. 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.
    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.
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    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

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