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Knowledge and Coordination
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Knowledge and Coordination: A Liberal Interpretation

Daniel B. Klein

Abstract

Adam Smith and Friedrich Hayek saw the liberty principle as focal and accorded it strong presumption, but their wisdom invokes how little we can know. This book re-examines the elements of economic liberalism. It interprets Hayek’s notion of spontaneous order from the aestheticized perspective of a Smithian spectator, real or imagined. The book addresses issues that economists have had surrounding the notion of coordination by distinguishing the concatenate coordination of Hayek, Ronald Coase, and Michael Polanyi from the mutual coordination of Thomas Schelling and game theory. Clarifying the ... More

Keywords: Adam Smith, Friedrich Hayek, liberty principle, economic liberalism, Ronald Coase, Michael Polanyi, Thomas Schelling, game theory

Bibliographic Information

Print publication date: 2014 Print ISBN-13: 9780199355327
Published to Oxford Scholarship Online: April 2015 DOI:10.1093/acprof:osobl/9780199355327.001.0001

Authors

Affiliations are at time of print publication.

Daniel B. Klein, author
Professor of Economics, George Mason University

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