 From Methodological Individualism to Complexity: The Case of Ludwig LachmannSandye Gloria Review of Political Economy, 2019, vol. 31, issue 2, 216-232 Abstract: It is argued in this paper that strict methodological individualism (MI) is a limit to progress in Austrian economics. It is possible to find already in Menger, in the older Hayek, and in the next generation of radical subjectivists led by Lachmann, the seeds of a distinct ontological and methodological position that may offer an interesting prospect of developing this school of thought. This alternative path suggests the replacement of strict MI with institutional individualism, compatible with the concept of emergence and all its ontological and methodological implications. It implies redefining the Mengerian project as part of the complexity economics paradigm. Lachmann is the Austrian author whose project is the most explicitly oriented toward this possibility. This paper does not aim to rediscover the relevance and originality of Lachmann's work, the second Austrian revival of the new millennium has indeed a lachmannian flavor. The aim is rather to provide a coherent framework for the dispersed recent work, which more or less explicitly links Austrian economics with complexity. Date: 2019 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:taf:revpoe:v:31:y:2019:i:2:p:216-232 Ordering information: This journal article can be ordered from DOI: 10.1080/09538259.2019.1662153 Access Statistics for this article Review of Political Economy is currently edited by Steve Pressman and Louis-Philippe Rochon More articles in Review of Political Economy from Taylor & Francis Journals |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.