Professor Hayek and the Theory of Investment

@article{Knight1935ProfessorHA,
  title={Professor Hayek and the Theory of Investment},
  author={Frank Hyneman Knight},
  journal={The Economic Journal},
  year={1935},
  volume={45},
  pages={77-94}
}
  • F. Knight
  • Published 1 March 1935
  • Economics
  • The Economic Journal
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52 Citations
Highly Influential Citations
5
Background Citations
17

52 Citations

The Average Period of Production: The History of an Idea
Austrian capital theory tried to capture the intuitive and basically undeniable importance that time plays in economic life, but arguably was diverted down a blind alley with Bohm-Bawerk’s average…
A RETROSPECTIVE LOOK AT “THE HAYEK STORY”: ROUNDABOUTNESS, STICKY CONSUMPTION, AND SEQUESTERED CAPITAL
Friedrich Hayek’s business cycle theory withered throughout the 1930s as he admitted that its underlying model of Böhm-Bawerkian roundaboutness was incomplete and inadequate. In 1934, Hayek started a…
Hayek, institutions, and coordination : essays in the history of economic thought and methodology
The multi-dimensional intellectual influence of Friedrich A. Hayek and the shared context at the LSE in the 1930s on Ronald Coase’s most famous theoretical contributions, especially concerning his…
Why Hayek Abandoned the Average Period of Production?
Between 1933 and 1936, Frank Knight and Friedrich Hayek engaged in a spirited dispute about the Austrian Theory of Capital through an exchange of articles that revealed Knight’s criticism and Hayek's…
The Hayek/Knight Capital Controversy: The Irrelevance of Roundaboutness, or Purging Processes in Time?
Neither changes in the durability of goods nor changes in their construction period . . . exerts an identifiable effect on a definable “period of production” in society as a whole. Moreover, they are…
Frank Knight, uncertainty and knowledge spillover entrepreneurship
Abstract In his seminal 1921 book, Risk, Uncertainty, and Profit, Frank Knight distinguished uncertainty and risk. This paper applies Knight's concept of uncertainty to knowledge generated in…
Keynes and Knight: risk-uncertainty distinctions, priority, coherence and change
Concerning the risk-uncertainty distinctions deployed by J.M. Keynes and F.H. Knight, this paper poses three questions. Historically, who has priority in introducing the distinction? Analytically,…
Uncertainty and the social organization of economic activity
Abstract The last two chapters of Frank H. Knight's Risk, Uncertainty and Profit are seldom cited and frequently ignored. But in those chapters, Knight moves from entrepreneurial judgment and…
Structural Change or Social Fluidity? Examining Intergenerational Mobility in Education in India
Libertarianism and the Chicago School of Economics
The libertarian defense of free enterprise, free trade, and freedom from government regulations and controls is grounded in a normative commitment to individual freedom. The majority of the economics…
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