Frank H. Knight

This book argues for the reconsideration of Frank Knight and the Chicago School of Economic thought in a post-Financial Crisis world. The author posits that the discussion of the founder of "Knightian Uncertainty" can reveal new insights into what the economy can do for society, as his prophetic insights can offer a view into the soul of the modern economy. The book first considers Frank Knight's early history and the unfolding of his economic philosophy before going on to evaluate his enduring legacy. All those interested in the influence of political and religious philosophy on economics will be delighted to discover the lasting impact of this great economic thinker.

Autorentext

David Cowan is a communications advisor to global corporations, author and a visiting scholar at Boston College, USA. He has worked for numerous financial and industrial organizations, with over 25 years of experience, and he has written for many publications including the Journal of Theological Studies. He studied at Glasgow (UK), Oxford (UK) and St Andrews (UK), where he earned his PhD in the schools of Divinity and International Relations.

Klappentext

Frank H. Knight was co-founder of the Chicago School. He was, first and foremost, a teacher; a theorist and author second. His work is scattered across many economic journals in essay-form standing on the base of Risk, Uncertainty and Profit, published in 1921.

Within the economic world today he is chiefly noted for the notion of 'Knightian Uncertainty', with which he established his reputation in the pantheon of great economic thinkers. While many who passed through his classes and the Chicago School placed great faith in capitalism, Knight remained a critical supporter of capitalism, offering prophetic insights into behavioural economics and economic society.

The 2008 recession burst the bubble of optimism, dating back to the 1980s, in what the economy can do for society. This brought back Keynesian insights into thinking about policy today. In this book, the author argues that Knight also deserves reconsideration, as his prophetic insights can offer a view into the soul of the modern economy.

Inhalt
.-1 A Prophet and a Pioneer .- 2 Knightian Uncertainty .-3 The Grand Crusade .-4 Knight Contra Mundum .-5 The Economic Organization .-6 Ethics and Competition .-7 Welfare Economics .-8 Freedom and Reform .-9 The Original Economic Sin .-10 Why Knight Was (not) a Conservative.