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The difficulty of applying the economics of time and ignorance

Listed author(s):
  • Solomon Stein

    ()

  • Virgil Storr

    ()

The Economics of Time & Ignorance (1985) is a key text within Austrian economics. Among the so-called “third generation” of modern Austrian economists, however, the book seems to have had very little impact compared to the notable influence it had upon the proceeding generation. Several possible reasons are considered, including a disagreement with the substantive claims made in Time & Ignorance or the possibility that Time & Ignorance has nothing to offer this generation. We challenge these potential explanations and, argue, that the root cause of this seeming neglect is the movement by this generation towards applied research, an area where Time & Ignorance has relatively less to offer. Copyright Springer Science+Business Media, LLC 2013

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File URL: http://hdl.handle.net/10.1007/s11138-012-0178-4
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Article provided by Springer & Society for the Development of Austrian Economics in its journal The Review of Austrian Economics.

Volume (Year): 26 (2013)
Issue (Month): 1 (March)
Pages: 27-37

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Handle: RePEc:kap:revaec:v:26:y:2013:i:1:p:27-37
DOI: 10.1007/s11138-012-0178-4
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  1. Edward P. Stringham, 2010. "Economic Value and Costs are Subjective," Chapters,in: Handbook on Contemporary Austrian Economics, chapter 4 Edward Elgar Publishing.
  2. Benjamin Powell & David Skarbek, 2006. "Sweatshops and Third World Living Standards: Are the Jobs Worth the Sweat?," Journal of Labor Research, Transaction Publishers, vol. 27(2), pages 263-274, April.
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  4. Emily Chamlee-Wright & Virgil Henry Storr, 2010. "The Role of Social Entrepreneurship in Post-Katrina Community Recovery," Chapters,in: The Political Economy of Hurricane Katrina and Community Rebound, chapter 6 Edward Elgar Publishing.
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  8. Stringham, Edward, 2003. "The extralegal development of securities trading in seventeenth-century Amsterdam," The Quarterly Review of Economics and Finance, Elsevier, vol. 43(2), pages 321-344.
  9. Scott A. Beaulier, 2003. "Explaining Botswana’s Success: The Critical Role of Post-Colonial Policy," Cato Journal, Cato Journal, Cato Institute, vol. 23(2), pages 227-240, Fall.
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  19. Stringham, Edward & Boettke, Peter & Clark, J.R., 2008. "Are regulations the answer for emerging stock markets? Evidence from the Czech Republic and Poland," The Quarterly Review of Economics and Finance, Elsevier, vol. 48(3), pages 541-566, August.
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