Posts Tagged ‘Knowledge and Coordination’

A “Kleinian” Version of Austrian Business Cycle Theory

September 10, 2012

by Gene Callahan

The next phase in my (now our, as I’ve taken on a colleague) project of thinking through Dan Klein’s Knowledge and Coordination¬†is to see how his ideas might be used to help describe business cycle theories and demonstrate¬†commonalities they share. Note: the point of the present exercise is simply to try to describe an existing business cycle theory in Kleinian terms, not to improve upon it or argue for its accuracy.

We will begin with the Austrian Theory of the Business Cycle: Read the rest of this entry »

Spontaneous or Planned: A Sharp Dichotomy, or a Gradient?

July 18, 2012

by Gene Callahan

I am writing a solicited comment for Dan Klein’s new book, Knowledge and Coordination: A Liberal Interpretation, for the journal Studies in Emergent Order. This is an especially interesting task for me, as Klein’s topic is obviously vital to my preliminary work on social cycles. And Dan is always an intelligent and engaging writer, so this should be a fun project. I find it helpful, in the interest of getting a paper done, to blog my thoughts as I go along, so here we go:

The first thing of importance I have noted is Klein, at least in the opening chapter, seems to posit a sharp dichotomy between spontaneous orders and planned orders. He uses the example of roller skaters in a rink: either they are each skating purely as they wish, or their movements are entirely planned by a “wise” planner. (This may well be modified by Klein later, but even if so, I have seen others treat this topic as if this was a simple dichotomy, so my remarks are, I think, worth making anyway.)

But real social orders are rarely (ever?) of either extreme. The extremes are ideal types, and real orders more or less instantiate the types. Read the rest of this entry »

Follow

Get every new post delivered to your Inbox.

Join 1,737 other followers