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Hayek, Epistemics, Institutions, and Change

In: F. A. Hayek

Author

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  • Peter J. Boettke

    (George Mason University
    George Mason University)

Abstract

In order to understand Hayek’s intellectual journey, one must appreciate his formation in Vienna during the early twentieth century, one of the most vibrant intellectual centers of the time. Hayek was familiar with the debates on the role of epistemology in the natural sciences, and these arguments influenced his own understanding of the scope and method of economics. What the social scientist is always studying is the result of the interaction of the minds of a multitude of individuals. The context within which these minds interact is fundamentally important to trace the basis for the unintended consequences of human action. Hence, epistemic considerations must be at the front and center in our study of economic, political, and social phenomena.

Suggested Citation

  • Peter J. Boettke, 2018. "Hayek, Epistemics, Institutions, and Change," Great Thinkers in Economics, in: F. A. Hayek, chapter 9, pages 227-256, Palgrave Macmillan.
    • Handle: RePEc:pal:gtechp:978-1-137-41160-0_9
    DOI: 10.1057/978-1-137-41160-0_9
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