Der Primat des Abstrakten. Überlegungen zu Prozessen der Selbstreferenz auf Märkten / The Primacy of the Abstract. Considerations concerning processes of self-reference on markets

Dötsch Jörg

ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, 2013, vol. 64, issue 1, 53-78

Abstract: Considerations concerning the order of markets and competition in many cases refer to their “classical” origin. In this manner they are united by a couple of common questions. The integration of findings from psychological and sociological research, as well as from theory of knowledge is still an essential challenge of heterodox economics. This paper discusses how to describe competitive markets as emergent phenomena and how to interpret them as evolutionarily superior. The starting point of these considerations is F.A. Hayek′s posit of the “Primacy of the Abstract”. The problem of self-reference has to be expounded, as well as the interrelation between utility, scarcity and prices. The discussion focuses on the asymmetries between knowledge and motivation. The drawn conclusions are then referred to the problem of emergence.

Date: 2013
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DOI: 10.1515/ordo-2013-0106

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