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The Use Of Knowledge In Society
"The Use of Knowledge in Society" is a scholarly article written by economist Friedrich Hayek, first published in the September 1945 issue of '' The American Economic Review''. Written (along with ''The Meaning of Competition'') as a rebuttal to fellow economist Oskar R. Lange and his endorsement of a planned economy, it was included among the twelve essays in Hayek's 1948 compendium '' Individualism and Economic Order''. The article is considered one of the most important in the field of modern economics. Argument Hayek's article argues against the establishment of a Central Pricing Board (advocated by Lange) by highlighting the dynamic and organic nature of market price-fluctuations, and the benefits of this phenomenon. He asserts that a centrally planned economy could never match the efficiency of the open market because what is known by a single agent is only a small fraction of the sum total of knowledge held by all members of society. A decentralized economy thus comple ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Friedrich Hayek
Friedrich August von Hayek ( , ; 8 May 189923 March 1992), often referred to by his initials F. A. Hayek, was an Austrian–British economist, legal theorist and philosopher who is best known for his defense of classical liberalism. Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for their work on money and economic fluctuations, and the interdependence of economic, social and institutional phenomena. His account of how changing prices communicate information that helps individuals coordinate their plans is widely regarded as an important achievement in economics, leading to his prize. Hayek served in World War I during his teenage years and said that this experience in the war and his desire to help avoid the mistakes that had led to the war drew him into economics. At the University of Vienna, he studied economics, eventually receiving his doctoral degrees in law in 1921 and in political science in 1923. He subsequently lived and work ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stanford University Press
Stanford University Press (SUP) is the publishing house of Stanford University. It is one of the oldest academic presses in the United States and the first university press to be established on the West Coast. It was among the presses officially admitted to the Association of American University Presses (now the Association of University Presses) at the organization's founding, in 1937, and is one of twenty-two current member presses from that original group. The press publishes 130 books per year across the humanities, social sciences, and business, and has more than 3,500 titles in print. History David Starr Jordan, the first president of Stanford University, posited four propositions to Leland and Jane Stanford when accepting the post, the last of which stipulated, “That provision be made for the publication of the results of any important research on the part of professors, or advanced students. Such papers may be issued from time to time as ‘Memoirs of the Leland Sta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jimmy Wales
Jimmy Donal Wales (born August 7, 1966), also known on Wikipedia by the pseudonym Jimbo, is an American-British Internet entrepreneur, webmaster, and former financial trader. He is a co-founder of the online non-profit encyclopedia Wikipedia and the for-profit wiki hosting service Fandom (formerly Wikia). He has worked on other online projects, including Bomis, Nupedia, WikiTribune, and WT Social. Wales was born in Huntsville, Alabama, where he attended Randolph School, a university-preparatory school. He earned bachelor's and master's degrees in finance from Auburn University and the University of Alabama respectively. In graduate school, Wales taught at two universities; however, he departed before completing a PhD to take a job in finance and later worked as the research director of Chicago Options Associates. In 1996, Wales and two partners founded Bomis, a web portal primarily known for featuring adult content. Bomis provided the initial funding for the free pe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Journal Of Political Economy
The ''Journal of Political Economy'' is a monthly peer-reviewed academic journal published by the University of Chicago Press. Established by James Laurence Laughlin in 1892, it covers both theoretical and empirical economics. In the past, the journal published quarterly from its introduction through 1905, ten issues per volume from 1906 through 1921, and bimonthly from 1922 through 2019. The editor-in-chief is Magne Mogstad ( University of Chicago). It is considered one of the top five journals in economics. Abstracting and indexing The journal is abstracted and indexed in EBSCO, ProQuest, EconLit , Research Papers in Economics, Current Contents/Social & Behavioral Sciences, and the Social Sciences Citation Index. According to the ''Journal Citation Reports'', the journal has a 2020 impact factor of 9.103, ranking it 4/376 journals in the category "Economics". The journal is department-owned University of Chicago journal. Notable papers Among the most influential pa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
George Stigler
George Joseph Stigler (; January 17, 1911 – December 1, 1991) was an American economist. He was the 1982 laureate in Nobel Memorial Prize in Economic Sciences and is considered a key leader of the Chicago school of economics. Early life and education Stigler was born in Seattle, Washington, the son of Elsie Elizabeth (Hungler) and Joseph Stigler. He was of German descent and spoke German in his childhood. He graduated from the University of Washington in 1931 with a BA and then spent a year at Northwestern University from which he obtained his MBA in 1932. It was during his studies at Northwestern that Stigler developed an interest in economics and decided on an academic career. Career After he received a tuition scholarship from the University of Chicago, Stigler enrolled there in 1933 to study economics and went on to earn his PhD in economics there in 1938. He taught at Iowa State College from 1936 to 1938. He spent much of World War II at Columbia University, performin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nicholas Brealey
John Murray is a British publisher, known for the authors it has published in its long history including, Jane Austen, Sir Arthur Conan Doyle, Lord Byron, Charles Lyell, Johann Wolfgang von Goethe, Herman Melville, Edward Whymper, Thomas Malthus, David Ricardo, and Charles Darwin. Since 2004, it has been owned by conglomerate Lagardère under the Hachette UK brand. Business publisher Nicholas Brealey became an imprint of John Murray in 2015. History The business was founded in London in 1768 by John Murray (1737–1793), an Edinburgh-born Royal Marines officer, who built up a list of authors including Isaac D'Israeli and published the ''English Review''. John Murray the elder was one of the founding sponsors of the London evening newspaper ''The Star'' in 1788. He was succeeded by his son John Murray II, who made the publishing house important and influential. He was a friend of many leading writers of the day and launched the '' Quarterly Review'' in 1809. He was the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tom Butler-Bowdon
Tom Butler-Bowdon (; born 1967) is a non-fiction author based in Oxford, England. Early life Butler-Bowdon was born in Adelaide. He graduated from the University of Sydney (BA Hons, Government and History) and the London School of Economics (MSc Politics of the World Economy). Career Butler-Bowdon is most notable for the ''50 Classics'' series of books, which provide commentaries on key writings in personal development, psychology, philosophy and economics. The series is published in English by Nicholas Brealey Publishing, and has been translated into 23 languages. Referring to his earlier work on the personal development literature, Butler-Bowdon was described by USA Today as "a true scholar of this type of literature". His ''50 Self-Help Classics'' won the 2004 Benjamin Franklin Award (US) for the Psychology/Self-Help category. Butler-Bowdon's "50 Economics Classics: The Greatest Books Distilled" was awarded a silver medal in the 2018 Axiom Business Book Awards, in the Bu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Palgrave Macmillan
Palgrave Macmillan is a British academic and trade publishing company headquartered in the London Borough of Camden. Its programme includes textbooks, journals, monographs, professional and reference works in print and online. It maintains offices in London, New York, Shanghai, Melbourne, Sydney, Hong Kong, Delhi, and Johannesburg. Palgrave Macmillan was created in 2000 when St. Martin's Press in the US united with Macmillan Publishers in the UK to combine their worldwide academic publishing operations. The company was known simply as Palgrave until 2002, but has since been known as Palgrave Macmillan. It is a subsidiary of Springer Nature. Until 2015, it was part of the Macmillan Group and therefore wholly owned by the German publishing company Holtzbrinck Publishing Group (which still owns a controlling interest in Springer Nature). As part of Macmillan, it was headquartered at the Macmillan campus in Kings Cross London with other Macmillan companies including Pan Macm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Armen Alchian
Armen Albert Alchian (; April 12, 1914February 19, 2013) was an American economist. He spent almost his entire career at the University of California, Los Angeles (UCLA). A major microeconomic theorist, he is known as one of the founders of new institutional economics and widely acknowledged for his work on property rights. Early life and education Armen Albert Alchian was born on April 12, 1914 in Fresno, California to Armenian-American parents. His father, Alexander H. Alchian (1884–1979), was born in Erzurum, Ottoman Empire and emigrated to the U.S. in 1901, while his mother Lily Normart (1889–1976) was born to Armenian immigrant parents in Fresno. Her parents were among the first Armenians to settle in the San Joaquin Valley and she was the first Armenian born in Fresno. His parents married in 1909, and Armen had a younger brother, Robert Haig Alchian (1917–1995). His father worked as a musician and a jeweler and the family was of "modest means." He grew up in the Arme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Solow
Robert Merton Solow, GCIH (; born August 23, 1924) is an American economist whose work on the theory of economic growth culminated in the exogenous growth model named after him. He is currently Emeritus Institute Professor of Economics at the Massachusetts Institute of Technology, where he has been a professor since 1949. He was awarded the John Bates Clark Medal in 1961, the Nobel Memorial Prize in Economic Sciences in 1987, and the Presidential Medal of Freedom in 2014. Four of his PhD students, George Akerlof, Joseph Stiglitz, Peter Diamond and William Nordhaus later received Nobel Memorial Prizes in Economic Sciences in their own right. Biography Robert Solow was born in Brooklyn, New York, into a Jewish family on August 23, 1924, the oldest of three children. He regarded his parents as being very intelligent despite their not being able to attend college due to the necessity to work. He was well educated in the neighborhood public schools and excelled academically ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paul Samuelson
Paul Anthony Samuelson (May 15, 1915 – December 13, 2009) was an American economist who was the first American to win the Nobel Memorial Prize in Economic Sciences. When awarding the prize in 1970, the Swedish Royal Academies stated that he "has done more than any other contemporary economist to raise the level of scientific analysis in economic theory". "In a career that spanned seven decades, he transformed his field, influenced millions of students and turned MIT into an economics powerhouse" Economic historian Randall E. Parker has called him the "Father of Modern Economics", and ''The New York Times'' considers him to be the "foremost academic economist of the 20th century". Samuelson was likely the most influential economist of the latter half of the 20th century."Paul ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
