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  • Print publication year: 2019
  • Online publication date: November 2019

10 - Behavioural Economics and Bounded Rationality

from Part IV - The Weakening of the Paradigm

Summary

In the framework of a critical illustration of the contemporary history of economics, this chapter provides an (original) illustration of Hayek’s thought: his formative years, his contributions to the theory of the trade cycle and the theory of capital and the subsequent debates with Sraffa and Kaldor, his theory of the spontaneous order and of the market as a mechanism of knowledge diffusion, his political individualism and the similarities to and differences from the notions of methodological individualism, liberism and liberalism, his thesis on the denationalization of money.

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