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The Knowledge We Have Lost in InformationThe History of Information in Modern Economics$
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The Knowledge We Have Lost in Information: The History of Information in Modern Economics

Philip Mirowski and Edward Nik-Khah

Print publication date: 2017

Print ISBN-13: 9780190270056

Published to Oxford Scholarship Online: June 2017

DOI: 10.1093/acprof:oso/9780190270056.001.0001

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Hayek Changes His Mind

Hayek Changes His Mind

Chapter:
(p.66) 6 Hayek Changes His Mind
Source:
The Knowledge We Have Lost in Information
Author(s):

Philip Mirowski

Edward Nik-Khah

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780190270056.003.0006

One of the greatest errors in the history of economics is to presume Hayek had a single stance toward the epistemology of the market and of agents. We report on recent research that argues for three different positions over the course of his life: Knowledge dispersed, tacit, and impersonal. This trajectory will prove significant for the rest of our narrative.

Keywords:   Friedrich Hayek, epistemology axis, tacit knowledge, nonarticulable knowledge, evolutionary theory

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