IDEAS home Printed from https://ideas.repec.org/a/eej/eeconj/v28y2002i3p343-349.html
   My bibliography  Save this article

Information, Knowledge and the Close of Friedrich Hayek's System: A Comment

Author

Listed:
  • Peter J. Boettke

    () (James M. Buchanan Center for Political Economy, George Mason University)

Abstract

Elias Khalil's "Information, Knowledge and the Close of Friedrich Hayek's System," argues that an internal contradiction exists within Hayek's political economy relating to his use of information and knowledge. As a result, Khalil argues that neither Hayek's critique of planning nor his defense of liberalism are coherent. To the contrary, this paper argues that Khalil has misread Hayek's work in economics and political economy and that once Hayek's work is placed in its appropriate context no internal contradiction exists. Furthermore, this paper argues that Hayek's economics and political economy are grounded in his recognition of the cognitive imperfections of man and thus Hayek represents an approach to political economy which seeks to identify "robust" institutions as opposed to ideal institutions.

Suggested Citation

  • Peter J. Boettke, 2002. "Information, Knowledge and the Close of Friedrich Hayek's System: A Comment," Eastern Economic Journal, Eastern Economic Association, vol. 28(3), pages 343-349, Summer.
  • Handle: RePEc:eej:eeconj:v:28:y:2002:i:3:p:343-349
    as

    Download full text from publisher

    File URL: http://web.holycross.edu/RePEc/eej/Archive/Volume28/V28N3P343_349.pdf
    Download Restriction: no

    References listed on IDEAS

    as
    1. Elias L. Khalil, 2002. "Information, Knowledge and the Close of Friedrich Hayek's System: A Comment," Eastern Economic Journal, Eastern Economic Association, vol. 28(3), pages 319-341, Summer.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Information; Knowledge; Friedrich Hayek;

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eej:eeconj:v:28:y:2002:i:3:p:343-349. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Victor Matheson, College of the Holy Cross). General contact details of provider: http://edirc.repec.org/data/eeaa1ea.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.