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Searching for a methodological synthesis -Hayek's individualism in the light of recent holistic criticism

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  • Juergen Lange-von Kulessa

Abstract

This paper compares different strategies of analysing economic phe-nomena, namely individualism and holism. As it turns out, a main point for which methodological individualism is criticized is its supposed reductionism and the related arbitrariness of choosing individuals as a unit of explanation. The paper shows that there exists at least with F. A. Hayek an author who presents an evolutionary theory of economic and social change that avoids the reductionism of orthodox individualistic theory. According to Hayek, the social scientist should try to receive insights about collective phenomena by analysing to what extent rules of behaviour are adopted by some individuals, larger groups or a whole population. Besides the selection argument, Hayek's observation of learning processes as primary factors determining behaviour gives rise to a conception of mankind far beyond optimization models. Hayek thus overcomes a reductionist individualism by taking recourse to hierarchical selection and learning processes.

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  • Juergen Lange-von Kulessa, 1997. "Searching for a methodological synthesis -Hayek's individualism in the light of recent holistic criticism," Journal of Economic Methodology, Taylor & Francis Journals, vol. 4(2), pages 267-287.
    • Handle: RePEc:taf:jecmet:v:4:y:1997:i:2:p:267-287
    DOI: 10.1080/13501789700000018
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    Cited by:

    1. Paul Lewis, 2014. "Hayek: from economics as equilibrium analysis to economics as social theory," Chapters, in: Roger W. Garrison & Norman Barry (ed.), Elgar Companion to Hayekian Economics, chapter 9, pages 195-223, Edward Elgar Publishing.
    2. Bramoulle Gerard & Calcei Didier, 1999. "Hayek's Epistemology and Methodology: Between Mises and Popper," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 9(4), pages 611-634, December.
    3. Daniel Fernando Zarama Rojas, 2021. "Humility's Challenge: The Political Value of Disperse Individual Experience in F. A. Hayek's Thought," Documentos CEDE 19127, Universidad de los Andes, Facultad de Economía, CEDE.

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