A Hayekian Explanation of Hayek's 'Epistemic Turn'
Scott Scheall ()
Additional contact information
Scott Scheall: Department of Science, Technology, and Society, Arizona State University, USA
Economic Thought, 2015, vol. 4, issue 2, pages 32
The present essay aims to account for F.A. Hayek's oft-noted 'turn' away from technical economics to concerns of a more philosophical nature. In particular, the paper seeks an explanatory principle that reconciles various elements of both continuity and discontinuity in Hayek's intellectual development, especially with respect to the evolution of his arguments concerning economic fluctuations. The essay uncovers such an explanatory principle in Hayek's own methodology of sciences of complex phenomena. According to this principle, an inquirer who confronts phenomena too complex for adequate explanation on the basis of current knowledge must move to a more general, albeit less testable, explanation. This is precisely what occurred in the evolution of Hayek's thought concerning trade cycles. The concluding section considers the implications of the argument for the extensive secondary literature on Hayek's 'transformation'.
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed
Downloads: (external link)
http://et.worldeconomicsassociation.org/papers/a-h ... yeks-epistemic-turn/ (text/html)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: http://EconPapers.repec.org/RePEc:wea:econth:v:4:y:2015:i:2:p:32
Access Statistics for this article
Economic Thought is currently edited by Kyla Rushman
More articles in Economic Thought from World Economics Association Contact information at EDIRC.
Series data maintained by Jake McMurchie ().