Menger’s exact laws, the role of knowledge, and welfare economics
Abstract Menger’s distinction between “true” and “imaginary” goods and his attempt to relate the account of goods back to human needs invites a discussion of whether his work constitutes a fruitful basis for modern welfare economics. In this paper, we show that Menger’s system contains indeed a form...
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| Autor*in: |
Dold, Malte [verfasserIn] |
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| Format: |
E-Artikel |
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| Sprache: |
Englisch |
| Erschienen: |
2022 |
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| Anmerkung: |
© The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2022. Springer Nature or its licensor holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law. |
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| Übergeordnetes Werk: |
Enthalten in: The review of Austrian economics - Dordrecht [u.a.] : Springer Science + Business Media B.V, 1987, 36(2022), 2 vom: 04. Okt., Seite 163-182 |
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| Übergeordnetes Werk: |
volume:36 ; year:2022 ; number:2 ; day:04 ; month:10 ; pages:163-182 |
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| DOI / URN: |
10.1007/s11138-022-00594-9 |
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SPR050066463 |
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| 520 | |a Abstract Menger’s distinction between “true” and “imaginary” goods and his attempt to relate the account of goods back to human needs invites a discussion of whether his work constitutes a fruitful basis for modern welfare economics. In this paper, we show that Menger’s system contains indeed a form of welfare economics, but only in a limited sense. For Menger, individuality and individual processes of needs-discovery are central to human welfare. Beyond this abstract point, Menger’s welfare economics is institutional. The economist can study the framework that is conducive to economic prosperity and the growth of knowledge, which are in turn conducive to agent-relative needs-discovery and satisfaction. To develop our argument, we examine the epistemic and ontological status of Menger’s “exact laws” and their connection with his emphasis on true needs, true goods, and economic action. Overall, Menger’s system gives economists good reasons why they might want to show humility and shy away from paternalistic policies that reduce the “countervailing” or “distorting” factors on economic behavior. | ||
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10.1007/s11138-022-00594-9 doi (DE-627)SPR050066463 (SPR)s11138-022-00594-9-e DE-627 ger DE-627 rakwb eng Dold, Malte verfasserin (orcid)0000-0002-1626-9878 aut Menger’s exact laws, the role of knowledge, and welfare economics 2022 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier © The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2022. Springer Nature or its licensor holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law. Abstract Menger’s distinction between “true” and “imaginary” goods and his attempt to relate the account of goods back to human needs invites a discussion of whether his work constitutes a fruitful basis for modern welfare economics. In this paper, we show that Menger’s system contains indeed a form of welfare economics, but only in a limited sense. For Menger, individuality and individual processes of needs-discovery are central to human welfare. Beyond this abstract point, Menger’s welfare economics is institutional. The economist can study the framework that is conducive to economic prosperity and the growth of knowledge, which are in turn conducive to agent-relative needs-discovery and satisfaction. To develop our argument, we examine the epistemic and ontological status of Menger’s “exact laws” and their connection with his emphasis on true needs, true goods, and economic action. Overall, Menger’s system gives economists good reasons why they might want to show humility and shy away from paternalistic policies that reduce the “countervailing” or “distorting” factors on economic behavior. Carl Menger (dpeaa)DE-He213 Needs (dpeaa)DE-He213 Exact laws (dpeaa)DE-He213 Welfare economics (dpeaa)DE-He213 Learning (dpeaa)DE-He213 Equilibration (dpeaa)DE-He213 Rizzo, Mario J. aut Enthalten in The review of Austrian economics Dordrecht [u.a.] : Springer Science + Business Media B.V, 1987 36(2022), 2 vom: 04. Okt., Seite 163-182 (DE-627)271175273 (DE-600)1478926-7 1573-7128 nnns volume:36 year:2022 number:2 day:04 month:10 pages:163-182 https://dx.doi.org/10.1007/s11138-022-00594-9 lizenzpflichtig Volltext GBV_USEFLAG_A SYSFLAG_A GBV_SPRINGER GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_120 GBV_ILN_138 GBV_ILN_150 GBV_ILN_151 GBV_ILN_152 GBV_ILN_161 GBV_ILN_170 GBV_ILN_171 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_250 GBV_ILN_281 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_636 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2031 GBV_ILN_2034 GBV_ILN_2037 GBV_ILN_2038 GBV_ILN_2039 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2065 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2093 GBV_ILN_2106 GBV_ILN_2107 GBV_ILN_2108 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2113 GBV_ILN_2118 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2144 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2188 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2446 GBV_ILN_2470 GBV_ILN_2472 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_2548 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4328 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4335 GBV_ILN_4336 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 AR 36 2022 2 04 10 163-182 |
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10.1007/s11138-022-00594-9 doi (DE-627)SPR050066463 (SPR)s11138-022-00594-9-e DE-627 ger DE-627 rakwb eng Dold, Malte verfasserin (orcid)0000-0002-1626-9878 aut Menger’s exact laws, the role of knowledge, and welfare economics 2022 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier © The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2022. Springer Nature or its licensor holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law. Abstract Menger’s distinction between “true” and “imaginary” goods and his attempt to relate the account of goods back to human needs invites a discussion of whether his work constitutes a fruitful basis for modern welfare economics. In this paper, we show that Menger’s system contains indeed a form of welfare economics, but only in a limited sense. For Menger, individuality and individual processes of needs-discovery are central to human welfare. Beyond this abstract point, Menger’s welfare economics is institutional. The economist can study the framework that is conducive to economic prosperity and the growth of knowledge, which are in turn conducive to agent-relative needs-discovery and satisfaction. To develop our argument, we examine the epistemic and ontological status of Menger’s “exact laws” and their connection with his emphasis on true needs, true goods, and economic action. Overall, Menger’s system gives economists good reasons why they might want to show humility and shy away from paternalistic policies that reduce the “countervailing” or “distorting” factors on economic behavior. Carl Menger (dpeaa)DE-He213 Needs (dpeaa)DE-He213 Exact laws (dpeaa)DE-He213 Welfare economics (dpeaa)DE-He213 Learning (dpeaa)DE-He213 Equilibration (dpeaa)DE-He213 Rizzo, Mario J. aut Enthalten in The review of Austrian economics Dordrecht [u.a.] : Springer Science + Business Media B.V, 1987 36(2022), 2 vom: 04. Okt., Seite 163-182 (DE-627)271175273 (DE-600)1478926-7 1573-7128 nnns volume:36 year:2022 number:2 day:04 month:10 pages:163-182 https://dx.doi.org/10.1007/s11138-022-00594-9 lizenzpflichtig Volltext GBV_USEFLAG_A SYSFLAG_A GBV_SPRINGER GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_120 GBV_ILN_138 GBV_ILN_150 GBV_ILN_151 GBV_ILN_152 GBV_ILN_161 GBV_ILN_170 GBV_ILN_171 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_250 GBV_ILN_281 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_636 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2031 GBV_ILN_2034 GBV_ILN_2037 GBV_ILN_2038 GBV_ILN_2039 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2065 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2093 GBV_ILN_2106 GBV_ILN_2107 GBV_ILN_2108 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2113 GBV_ILN_2118 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2144 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2188 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2446 GBV_ILN_2470 GBV_ILN_2472 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_2548 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4328 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4335 GBV_ILN_4336 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 AR 36 2022 2 04 10 163-182 |
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10.1007/s11138-022-00594-9 doi (DE-627)SPR050066463 (SPR)s11138-022-00594-9-e DE-627 ger DE-627 rakwb eng Dold, Malte verfasserin (orcid)0000-0002-1626-9878 aut Menger’s exact laws, the role of knowledge, and welfare economics 2022 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier © The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2022. Springer Nature or its licensor holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law. Abstract Menger’s distinction between “true” and “imaginary” goods and his attempt to relate the account of goods back to human needs invites a discussion of whether his work constitutes a fruitful basis for modern welfare economics. In this paper, we show that Menger’s system contains indeed a form of welfare economics, but only in a limited sense. For Menger, individuality and individual processes of needs-discovery are central to human welfare. Beyond this abstract point, Menger’s welfare economics is institutional. The economist can study the framework that is conducive to economic prosperity and the growth of knowledge, which are in turn conducive to agent-relative needs-discovery and satisfaction. To develop our argument, we examine the epistemic and ontological status of Menger’s “exact laws” and their connection with his emphasis on true needs, true goods, and economic action. Overall, Menger’s system gives economists good reasons why they might want to show humility and shy away from paternalistic policies that reduce the “countervailing” or “distorting” factors on economic behavior. Carl Menger (dpeaa)DE-He213 Needs (dpeaa)DE-He213 Exact laws (dpeaa)DE-He213 Welfare economics (dpeaa)DE-He213 Learning (dpeaa)DE-He213 Equilibration (dpeaa)DE-He213 Rizzo, Mario J. aut Enthalten in The review of Austrian economics Dordrecht [u.a.] : Springer Science + Business Media B.V, 1987 36(2022), 2 vom: 04. Okt., Seite 163-182 (DE-627)271175273 (DE-600)1478926-7 1573-7128 nnns volume:36 year:2022 number:2 day:04 month:10 pages:163-182 https://dx.doi.org/10.1007/s11138-022-00594-9 lizenzpflichtig Volltext GBV_USEFLAG_A SYSFLAG_A GBV_SPRINGER GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_120 GBV_ILN_138 GBV_ILN_150 GBV_ILN_151 GBV_ILN_152 GBV_ILN_161 GBV_ILN_170 GBV_ILN_171 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_250 GBV_ILN_281 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_636 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2031 GBV_ILN_2034 GBV_ILN_2037 GBV_ILN_2038 GBV_ILN_2039 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2065 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2093 GBV_ILN_2106 GBV_ILN_2107 GBV_ILN_2108 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2113 GBV_ILN_2118 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2144 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2188 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2446 GBV_ILN_2470 GBV_ILN_2472 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_2548 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4328 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4335 GBV_ILN_4336 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 AR 36 2022 2 04 10 163-182 |
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10.1007/s11138-022-00594-9 doi (DE-627)SPR050066463 (SPR)s11138-022-00594-9-e DE-627 ger DE-627 rakwb eng Dold, Malte verfasserin (orcid)0000-0002-1626-9878 aut Menger’s exact laws, the role of knowledge, and welfare economics 2022 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier © The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2022. Springer Nature or its licensor holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law. Abstract Menger’s distinction between “true” and “imaginary” goods and his attempt to relate the account of goods back to human needs invites a discussion of whether his work constitutes a fruitful basis for modern welfare economics. In this paper, we show that Menger’s system contains indeed a form of welfare economics, but only in a limited sense. For Menger, individuality and individual processes of needs-discovery are central to human welfare. Beyond this abstract point, Menger’s welfare economics is institutional. The economist can study the framework that is conducive to economic prosperity and the growth of knowledge, which are in turn conducive to agent-relative needs-discovery and satisfaction. To develop our argument, we examine the epistemic and ontological status of Menger’s “exact laws” and their connection with his emphasis on true needs, true goods, and economic action. Overall, Menger’s system gives economists good reasons why they might want to show humility and shy away from paternalistic policies that reduce the “countervailing” or “distorting” factors on economic behavior. Carl Menger (dpeaa)DE-He213 Needs (dpeaa)DE-He213 Exact laws (dpeaa)DE-He213 Welfare economics (dpeaa)DE-He213 Learning (dpeaa)DE-He213 Equilibration (dpeaa)DE-He213 Rizzo, Mario J. aut Enthalten in The review of Austrian economics Dordrecht [u.a.] : Springer Science + Business Media B.V, 1987 36(2022), 2 vom: 04. Okt., Seite 163-182 (DE-627)271175273 (DE-600)1478926-7 1573-7128 nnns volume:36 year:2022 number:2 day:04 month:10 pages:163-182 https://dx.doi.org/10.1007/s11138-022-00594-9 lizenzpflichtig Volltext GBV_USEFLAG_A SYSFLAG_A GBV_SPRINGER GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_120 GBV_ILN_138 GBV_ILN_150 GBV_ILN_151 GBV_ILN_152 GBV_ILN_161 GBV_ILN_170 GBV_ILN_171 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_250 GBV_ILN_281 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_636 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2031 GBV_ILN_2034 GBV_ILN_2037 GBV_ILN_2038 GBV_ILN_2039 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2065 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2093 GBV_ILN_2106 GBV_ILN_2107 GBV_ILN_2108 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2113 GBV_ILN_2118 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2144 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2188 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2446 GBV_ILN_2470 GBV_ILN_2472 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_2548 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4328 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4335 GBV_ILN_4336 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 AR 36 2022 2 04 10 163-182 |
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10.1007/s11138-022-00594-9 doi (DE-627)SPR050066463 (SPR)s11138-022-00594-9-e DE-627 ger DE-627 rakwb eng Dold, Malte verfasserin (orcid)0000-0002-1626-9878 aut Menger’s exact laws, the role of knowledge, and welfare economics 2022 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier © The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2022. Springer Nature or its licensor holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law. Abstract Menger’s distinction between “true” and “imaginary” goods and his attempt to relate the account of goods back to human needs invites a discussion of whether his work constitutes a fruitful basis for modern welfare economics. In this paper, we show that Menger’s system contains indeed a form of welfare economics, but only in a limited sense. For Menger, individuality and individual processes of needs-discovery are central to human welfare. Beyond this abstract point, Menger’s welfare economics is institutional. The economist can study the framework that is conducive to economic prosperity and the growth of knowledge, which are in turn conducive to agent-relative needs-discovery and satisfaction. To develop our argument, we examine the epistemic and ontological status of Menger’s “exact laws” and their connection with his emphasis on true needs, true goods, and economic action. Overall, Menger’s system gives economists good reasons why they might want to show humility and shy away from paternalistic policies that reduce the “countervailing” or “distorting” factors on economic behavior. Carl Menger (dpeaa)DE-He213 Needs (dpeaa)DE-He213 Exact laws (dpeaa)DE-He213 Welfare economics (dpeaa)DE-He213 Learning (dpeaa)DE-He213 Equilibration (dpeaa)DE-He213 Rizzo, Mario J. aut Enthalten in The review of Austrian economics Dordrecht [u.a.] : Springer Science + Business Media B.V, 1987 36(2022), 2 vom: 04. Okt., Seite 163-182 (DE-627)271175273 (DE-600)1478926-7 1573-7128 nnns volume:36 year:2022 number:2 day:04 month:10 pages:163-182 https://dx.doi.org/10.1007/s11138-022-00594-9 lizenzpflichtig Volltext GBV_USEFLAG_A SYSFLAG_A GBV_SPRINGER GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_120 GBV_ILN_138 GBV_ILN_150 GBV_ILN_151 GBV_ILN_152 GBV_ILN_161 GBV_ILN_170 GBV_ILN_171 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_250 GBV_ILN_281 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_636 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2031 GBV_ILN_2034 GBV_ILN_2037 GBV_ILN_2038 GBV_ILN_2039 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2065 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2093 GBV_ILN_2106 GBV_ILN_2107 GBV_ILN_2108 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2113 GBV_ILN_2118 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2144 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2188 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2446 GBV_ILN_2470 GBV_ILN_2472 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_2548 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4328 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4335 GBV_ILN_4336 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 AR 36 2022 2 04 10 163-182 |
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| abstract |
Abstract Menger’s distinction between “true” and “imaginary” goods and his attempt to relate the account of goods back to human needs invites a discussion of whether his work constitutes a fruitful basis for modern welfare economics. In this paper, we show that Menger’s system contains indeed a form of welfare economics, but only in a limited sense. For Menger, individuality and individual processes of needs-discovery are central to human welfare. Beyond this abstract point, Menger’s welfare economics is institutional. The economist can study the framework that is conducive to economic prosperity and the growth of knowledge, which are in turn conducive to agent-relative needs-discovery and satisfaction. To develop our argument, we examine the epistemic and ontological status of Menger’s “exact laws” and their connection with his emphasis on true needs, true goods, and economic action. Overall, Menger’s system gives economists good reasons why they might want to show humility and shy away from paternalistic policies that reduce the “countervailing” or “distorting” factors on economic behavior. © The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2022. Springer Nature or its licensor holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law. |
| abstractGer |
Abstract Menger’s distinction between “true” and “imaginary” goods and his attempt to relate the account of goods back to human needs invites a discussion of whether his work constitutes a fruitful basis for modern welfare economics. In this paper, we show that Menger’s system contains indeed a form of welfare economics, but only in a limited sense. For Menger, individuality and individual processes of needs-discovery are central to human welfare. Beyond this abstract point, Menger’s welfare economics is institutional. The economist can study the framework that is conducive to economic prosperity and the growth of knowledge, which are in turn conducive to agent-relative needs-discovery and satisfaction. To develop our argument, we examine the epistemic and ontological status of Menger’s “exact laws” and their connection with his emphasis on true needs, true goods, and economic action. Overall, Menger’s system gives economists good reasons why they might want to show humility and shy away from paternalistic policies that reduce the “countervailing” or “distorting” factors on economic behavior. © The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2022. Springer Nature or its licensor holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law. |
| abstract_unstemmed |
Abstract Menger’s distinction between “true” and “imaginary” goods and his attempt to relate the account of goods back to human needs invites a discussion of whether his work constitutes a fruitful basis for modern welfare economics. In this paper, we show that Menger’s system contains indeed a form of welfare economics, but only in a limited sense. For Menger, individuality and individual processes of needs-discovery are central to human welfare. Beyond this abstract point, Menger’s welfare economics is institutional. The economist can study the framework that is conducive to economic prosperity and the growth of knowledge, which are in turn conducive to agent-relative needs-discovery and satisfaction. To develop our argument, we examine the epistemic and ontological status of Menger’s “exact laws” and their connection with his emphasis on true needs, true goods, and economic action. Overall, Menger’s system gives economists good reasons why they might want to show humility and shy away from paternalistic policies that reduce the “countervailing” or “distorting” factors on economic behavior. © The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2022. Springer Nature or its licensor holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law. |
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Menger’s exact laws, the role of knowledge, and welfare economics |
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Rizzo, Mario J. |
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| score |
7.401102 |