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The Genetic-Causal Tradition and Modern Economic Theory

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  • Cowan, Robin
  • Rizzo, Mario J

Abstract

This paper is an analysis of a specific tradition of causal thinking in economics--this was most self-consciously developed in the work of the Austrian school but spilled over into other approaches. Genetic-causal explanations place emphasis, inter alia, on processes in time, emanating from changes in agents' desires and beliefs. The authors present a brief history of this approach, outline its major characteristics, differentiate genetic-causal explanation from other kinds of explanation, and illustrate the approach in mid- and late-twentieth century economic theory. Copyright 1996 by WWZ and Helbing & Lichtenhahn Verlag AG

Suggested Citation

  • Cowan, Robin & Rizzo, Mario J, 1996. "The Genetic-Causal Tradition and Modern Economic Theory," Kyklos, Wiley Blackwell, vol. 49(3), pages 273-317.
  • Handle: RePEc:bla:kyklos:v:49:y:1996:i:3:p:273-317
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    Cited by:

    1. repec:kap:revaec:v:30:y:2017:i:3:d:10.1007_s11138-016-0346-z is not listed on IDEAS
    2. Anthony Endres, 2013. "Is the economics of time and ignorance a “classic”?," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 26(1), pages 17-25, March.
    3. Ehret, Michael, 2014. "Financial socialism: The role of financial economics in economic disorganization," Journal of Business Research, Elsevier, vol. 67(1), pages 2686-2692.
    4. Paul Lewis, 2005. "Structure, agency and causality in post-revival Austrian economics: tensions and resolutions," Review of Political Economy, Taylor & Francis Journals, vol. 17(2), pages 291-316.
    5. Diogo de Melo Lourenço, 2015. "Hayek’s Scientism Essay and the social aspects of objectivity and the mind," FEP Working Papers 560, Universidade do Porto, Faculdade de Economia do Porto.
    6. Boettke, Peter, 2010. "From neuro-Hayekians to subjectivist Hayekians: a reply to Horwitz and Koppl," MPRA Paper 33605, University Library of Munich, Germany.
    7. Simon Bilo & Richard Wagner, 2015. "Neutral money: Historical fact or analytical artifact?," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 28(2), pages 139-150, June.
    8. Peter Abell & Teppo Felin & Nicolai Foss, 2008. "Building micro-foundations for the routines, capabilities, and performance links," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 29(6), pages 489-502.
    9. Chad Seagren, 2011. "Examining social processes with agent-based models," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 24(1), pages 1-17, March.

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