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A Hayekian Explanation of Hayek's "Epistemic Turn"

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  • Scott Scheall

Abstract

The present essay investigates F.A. Hayek’s epistemology and his methodology of sciences of complex phenomena for implications relevant to an explanation of Hayek’s own so- called “epistemic turn.” The thesis defended here is that Hayek’s dissatisfaction with his technical economics – in particular, his business cycle project – prompted, in keeping with his evolutionary theory of belief revision, the develo pment of an approach less susceptible to the same disappointment.

Suggested Citation

  • Scott Scheall, 2014. "A Hayekian Explanation of Hayek's "Epistemic Turn"," Center for the History of Political Economy Working Paper Series 2014-4, Center for the History of Political Economy.
  • Handle: RePEc:hec:heccee:2014-4
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    File URL: http://hope.econ.duke.edu/node/955
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    Keywords

    Hayek; epistemic turn; methodology; complex phenomena; explanation of the principle;

    JEL classification:

    • B2 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925
    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • B3 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian

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