{"title":"Capital, Interest, and Professor Kirzner","authors":"Roger W. Garrison","doi":"10.2202/1145-6396.1065","DOIUrl":"https://doi.org/10.2202/1145-6396.1065","url":null,"abstract":"Israel Kirzner is to be credited for clarifying and developing the theory of capital and interest set out by Ludwig von Mises and for articulating and defending the pure time preference theory of interest. A revisiting of Mises and his critics suggests that the pure time preference theory is best formulated in terms of economic actions and then applied (variously) to the anticipated consequences of those actions. Differences between the Misesian and Knightian reckonings of time preference are to be understood in terms of the contrasting conceptions of a zero time preference. Parallels between the time preference theory of interest and a leisure preference theory of wages are explored. Austrian economics is deemed healthy despite lingering puzzles about its theories of interest and wages.On doit au Professeur Kirzner la clarification et le développement de la théorie du capital et de lintérêt dans la lignée de Ludwig von Mises et larticulation et la défense de la théorie de lintérêt comme étant la préférence pure pour le temps. Une relecture des travaux de Mises et de ses critiques suggère qu la théorie de la préférence pure pour le temps est mieux formulée en termes dactions économiques et ensuite appliquée (de manière variable) aux conséquences anticipées de ces mêmes actions. Les différences entre les acceptions Misessiennes et Knigtienne de la préférence pour le temps doivent être comprises en termes de conceptions différentes dune préférence nulle pour le temps. Les rapprochements entre la théorie de lintérêt comme préférence pour le temps et la théorie des salaires comme préférence pour les loisirs sont explorés. Léconomie autrichienne est jugée saine en dépit des énigmes persistantes qui entourent ses théories de lintérêt et des salaires.","PeriodicalId":231500,"journal":{"name":"Journal des �conomistes et des �tudes Humaines","volume":"70 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2002-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131953874","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Competition in Retail Electricity Supply","authors":"S. Littlechild","doi":"10.2202/1145-6396.1067","DOIUrl":"https://doi.org/10.2202/1145-6396.1067","url":null,"abstract":"This paper presents an analysis and defense of competition in retail electricity supply. It includes some account of its development in the UK over the last dozen years, to the point where all retail price controls have now been removed. The development of this competition illustrates a number of the themes in Israel M. Kirzners writing for example, the nature of competition as a process over time, the entrepreneurial and learning nature of this process, the role of marketing in alerting customers, the role of competition in establishing price and in discovering the services and suppliers that customers prefer, and the advantages of competition over regulation.Cet article propose une analyse et une défense de la concurrence de loffre de détail délectricité. Il comporte quelques résultats de son évolution au Royaume-Uni durant les douze dernières années, jusquau moment où tous les contrôles de prix au détail ont été abolis. Lévolution de cette concurrence illustre quelquesuns des thèmes des écrits dIsrael Kirzner par exemple, la nature de la concurrence en tant que processus à travers le temps, la nature entrepreneuriale et cognitive de ce processus, le rôle du marketing dans linformation des consommateurs, le rôle de la concurrence dans la fixation des prix et dans la découverte des services et des offreurs que les consommateurs préfèrent, et les avantages de la concurrence par rapport la réglementation.","PeriodicalId":231500,"journal":{"name":"Journal des �conomistes et des �tudes Humaines","volume":"46 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2002-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125395259","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"What is Alertness?","authors":"R. Koppl","doi":"10.2202/1145-6396.1044","DOIUrl":"https://doi.org/10.2202/1145-6396.1044","url":null,"abstract":"Israel Kirzners concept of alertness is recast in the language of phenomenological psychology. Our ideas about things are either openended ideas posing no particular problem of choice, open possibilities, or alternatives to choose between, problematic possibilities. Choice is the process of formulating problematic possibilities; it is the process of reinterpreting ones situation. The fully formed reinterpretation generates the chosen outcome as a necessary consequence of preferences and perceived constraints. Reinterpretation precedes choice, both logically and temporally. This understanding of alertness helps to clarify Austrian ideas such as the idea that preferences do not exist apart from action.Le concept de vigilance dIsrael Kirzner est reformulé dans le langage de la psychologie phéno- ménologique. Nos idées à propos des choses sont souvent des idées à finalité ouverte ne soulevant pas de problème particulier de choix, des possibilités ouvertes, ou des alternatives de choix entre des possibilités problématiques. Le choix est un processus de formulation de possibilités problématiques ; cest le processus consistant à réinterpréter nos propres situations. Dans sa formulation ultime, la réinterprétation génère le résultat choisi comme conséquence nécessaire des préférences et des contraintes perçues. La réinterprétation précède le choix, et logiquement et temporellement. Cette compréhension de la vigilance aide à clarifier les idées Autrichiennes telle que lidée selon laquelle les préférences nexistent pas indépendamment de laction.","PeriodicalId":231500,"journal":{"name":"Journal des �conomistes et des �tudes Humaines","volume":"50 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2002-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117200218","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Kirznerian Entrepreneurship and The Nature of The Firm","authors":"R. Langlois","doi":"10.2202/1145-6396.1050","DOIUrl":"https://doi.org/10.2202/1145-6396.1050","url":null,"abstract":"The paper argues that Israel Kirzners theory of entrepreneurship has been influential on a number of related dynamic theories of organization. Kirzners theory is animated by a dual concern the process (rather than the result) of rentseeking behavior and the fundamental incompletness (rather than the mere asymmetric structure) of knowledge. Placed in a technological and institutional context, this theory points to the importance of dynamic transaction costs: the coordination costs of acting upon an innovative rent-seeking opportunity. In some contexts, this kind of cost can explain vertical integration; in other contexts, it can explain the reverse phenomenon: vertical disintegration.Cet article soutient que la théorie de lentrepreneur dIsrael Kirzner a influencé un grand nombre de théories dynamiques de lorganisation. La théorie kirznerienne est animée par un objectif double : le processus (plus que le résultat) de comportement de recherche de rente et lincomplétude fondamentale (plus que la simple structure asymétrique) de la connaissance. Replacée dans un contexte technologique et institutionnel, cette théorie souligne limportance des coûts de transaction dynamiques : les coûts de transaction liés à une opportunité dans la recherche de rente innovante. Dans certaines situations, cette catégorie de coûts peut expliquer lintégration verticale ; dans dautres, elle peut expliquer le phénomène inverse : la désintégration verticale.","PeriodicalId":231500,"journal":{"name":"Journal des �conomistes et des �tudes Humaines","volume":"96 5","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2002-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120850127","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Kirznerian Economics: Some Policy Implications and Issues","authors":"F. Sautet","doi":"10.2202/1145-6396.1053","DOIUrl":"https://doi.org/10.2202/1145-6396.1053","url":null,"abstract":"The aim of this paper is twofold: (a) to review briefly the main policy implications of Kirzners work (and to show that Kirzner has always been careful to draw policy implications from his analysis) and (b) to contrast these with the approach that is generally used in public policy. The following issues are discussed in the paper: taxation and entrepreneurial incentives; the effects of regulation on the entrepreneurial process and economic growth; monopoly and monopoly pricing; anti-trust laws and their impact on the market process; the coordination criterion of efficiency; and the notion of economic justice. I argue that the standard criteria of efficiency are often not useful to policy-making and should be replaced by Kirzners coordination criterion, which states that the institutions of the market economy must be geared toward allowing the capture of profit (i.e. fostering entrepreneurial incentives) in order to promote the speed and responsiveness of the market process. One of the main lessons of Kirzners work for policy making is that the market process is always competitive and takes place over time.Cet article a deux objectifs : a) passer brièvement en revue les principales implications politiques des contributions de Kirzner (et monter que Kirzner a toujours pris le soin de tirer les implications politiques de ses analyses) et b) distinguer ces implications kirzneriennes de lapproche généralement retenue dans lélaboration des politiques publiques. Dans ce qui suit, nous discutons des questions suivantes : les impôts et les incitations entrepreneuriales ; les effets de la réglementation sur le processus entrepreneurial et la croissance économique ; les monopoles et leurs modes de fixation des prix ; les lois anti-monopole et leurs conséquences sur le processus marchand ; lefficience en tant que critère de coordination ; et la notion de justice économique. Le papier soutient que le critère standard defficience est rarement utile au niveau politique et devrait être remplacé par le critère de coordination de Kirzner qui énonce que les institutions de marché doivent avoir comme point de repère la réalisation de profits (cest-à-dire lencouragement des incitations entrepreneuriales) de manière à promouvoir la vitesse de capacité dajustement du processus marchand. Une des principales leçons des contributions kirzneriennes pour les décisions politiques est que le processus marchand est toujours concurrentiel et sinscrit dans le temps.","PeriodicalId":231500,"journal":{"name":"Journal des �conomistes et des �tudes Humaines","volume":"81 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2002-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121017107","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Digitus Dei est Hic","authors":"Jean-Yves Naudet","doi":"10.2202/1145-6396.1035","DOIUrl":"https://doi.org/10.2202/1145-6396.1035","url":null,"abstract":"The relations of Frederic Bastiat with Faith are complex. He often speaks of God in his works, but his conversion, or rather his return, to the Catholicism was progressive and ended at the time of his death in 1850 in Rome. According to Bastiat, there is no opposition between science and Faith and, above all, economic and social harmonies express and reflect the wisdom of God.Moreover, Bastiat was to join the Catholics of his time, especially in the struggles for the freedom of eductaion, and he was to propose some reforms that the French Catholics adopted only later, such as the separation of the Church and the State; in this way, when he disagreed with the nineteenth centurys Catholics, he anticipated in fact the positions of the twentieth centurys Catholics, being in this instance, as in economic thought, ahead of his time.Les rapports de Frédéric Bastiat et de la foi sont complexes. Il parle souvent de Dieu dans ses oeuvres, mais sa conversion, ou plutôt son retour, au catholicisme a été lente et ne sest achevée quau moment de sa mort à Rome en 1850. Pour Bastiat, il ny a pas dopposition entre science et Foi et, surtout, les harmonies sociales expriment et reflètent la sagesse de Dieu.Par ailleurs, Bastiat rejoindra les catholiques de son époque, en particulier dans les combats en faveur de la liberté de lenseignement, et il proposera des réformes que les catholiques français naccepteront que plus tard, comme la séparation de lEglise et de lEtat ; en ce sens, lorsquil est en désaccord avec les catholiques du XIXème siècle, il anticipe en fait sur les positions des catholiques du XXème siècle, étant là aussi, comme en économie, en avance sur son temps.","PeriodicalId":231500,"journal":{"name":"Journal des �conomistes et des �tudes Humaines","volume":"58 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2001-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127620432","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Frederic Bastiat - \"A Man for All Reasons\"","authors":"R. Hébert","doi":"10.2202/1145-6396.1016","DOIUrl":"https://doi.org/10.2202/1145-6396.1016","url":null,"abstract":"","PeriodicalId":231500,"journal":{"name":"Journal des �conomistes et des �tudes Humaines","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2001-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124793173","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Bastiat and the French School of Laissez-Faire","authors":"Leonard P. Liggio","doi":"10.2202/1145-6396.1029","DOIUrl":"https://doi.org/10.2202/1145-6396.1029","url":null,"abstract":"Federic Bastiat came on to the economic scene in 1844 and died in 1850. He filled the pages with his analyses of economic relations and the effects of government plunder, regulation and transfers. He fulfilled the first character of a scientist, he was unterrifed. Before his writings he had had a quarter century of study of economics. He immersed himself in the major economic writings of the discipline. The French economists, Cantillon, Quesnay, Turgot, Dupont, Condorcet, Condillac, Say, Destutt de Tracy, some of them precursors of Adam Smith, had been the leaders in the science of economics. The two leading disciples of Say, Charles Dunoyer and Charles Comte, had edited the major Liberal periodical, le Censeur europeen, from which Bastiat drew his thinking. Bastiat, like Say and Destutt de Tracy, was translated and published in the United States. Bastiat has had his greatest impact during the second half of the twentieth century on American public opinion.Frédéric Bastiat apparut sur la scène économique en 1844 et mourut en 1850. Parmi ses écrits figurent ses analyses des relations économiques et les effets du pillage, des régulations et des transferts étatiques. Il avait le tempérament essentiel dun scientifique, celui de ne pas avoir peur. Avant décrire, il avait étudié léconomie pendant un quart de siècle. Il simmergea dans les écrits des principaux auteurs de la théorie économique. Les économistes français, Cantillon, Quesnay, Turgot, Dupont, Condorcet, Condillac, Say, Destutt de Tracy, dont certains furent des précurseurs dAdam Smith, avaient été les chefs de file de la science économique. Les deux principaux disciples de Say, Charles Dunoyer et Charles Comte, avaient édité le principal périodique libéral, le Censeur Européen, qui inspira les écrits de Bastiat. Tout comme Say et Destutt de Tracy, Bastiat fut traduit en Americain. Limpact majeur de Bastiat se fit sentir sur lopinion publique aux Etats-Unis durant la seconde moitié du vingtième siècle.","PeriodicalId":231500,"journal":{"name":"Journal des �conomistes et des �tudes Humaines","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2001-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126962702","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Neglect of Bastiat's School by English-Speaking Economists: A Puzzle Resolved","authors":"Joseph T. Salerno","doi":"10.2202/1145-6396.1028","DOIUrl":"https://doi.org/10.2202/1145-6396.1028","url":null,"abstract":"The French liberal school, the school of Frédéric Bastiat, thoroughly dominated economics in France for most of the nineteenth century. In addition, the school exercised a profound influence on the development of nineteenth-century economic theory outside France, particularly in countries such as Italy, Germany and Austria where its merits were recognized by eminent Continental marginalists including Böhm-Bawerk, Cassel, Wicksell and Pareto. In the United States, Great Britain and Australia, also, the school inspired a number of important economic theorists and movements such as William Stanley Jevons and the American catallactic tradition. Yet despite its significant international influence, the school has been almost completely neglected by Englishspeaking economists and doctrinal scholars after World War One. In this paper, I suggest that the resolution of this puzzle lies in a conjunction of peculiar institutional and doctrinal circumstances that accompanied the professionalization of economics in France, Great Britain and the United States.Lécole libérale française, celle de Frédéric Bastiat, domina totalement la pensée économique en France pendant une majeure partie du dixneuvième siècle. De plus, lécole exerça une influence profonde sur le développement de la théorie économique à lextérieur de la France, en particulier dans des pays tels que lAllemagne et lAutriche. Dans ces pays, les mérites de lécole furent reconnus par des marginalistes continentaux aussi éminents que Böhm-Bawerk, Cassel, Wicksell et Pareto. Lécole inspira aussi un nombre important déconomistes et de mouvements aux Etats-Unis, en Angleterre et en Australie tels que William Stanley Jevons et la tradition catallactique américaine. Néanmoins, en dépit de cette influence internationale, lécole a été presque totalement négligée par les économistes de langue anglaise et par les penseurs doctrinaux après la première guerre mondiale. Dans cet article, lauteur suggère que la solution à cette énigme se trouve dans la conjonction de circonstances institutionnelles et doctrinales particulières qui accompagna la professionnalisation de léconomie en France, en Grande- Bretagne et aux Etats-Unis.","PeriodicalId":231500,"journal":{"name":"Journal des �conomistes et des �tudes Humaines","volume":"81 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2001-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122891757","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"After Socialism: Where Hope for Individual Liberty Lies","authors":"S. Pejovich","doi":"10.2202/1145-6396.1001","DOIUrl":"https://doi.org/10.2202/1145-6396.1001","url":null,"abstract":"The paper identifies the rule of law, the carriers of institutional restructuring, and the prevailing informal rules in the community as three critical determinants of the outcome of institutional restructuring in the community. The paper demonstrates that the analysis of the interaction among these three determinants a claim I call the interaction thesis explains why the transition from socialism to the market economy in postwar West Germany was a success, why the transition to capitalism in Eastern Europe is still uncertain, and why the use of economic policies based on neoclassical economics have produced the rising strength of pro-socialist parties. The conclusion is that the interaction thesis is a powerful and perhaps necessary method for the analysis of institutional changes and their causes, directions and consequences.Cet article identifie létat de droit, les supports des réformes institutionnelles, et les règles communautaires informelles qui y sont prévalent comme les trois facteurs explicatifs majeurs du succès ou de léchec de la réforme institutionnelle dans un pays. Cet article démontre que lanalyse de linteraction entre ces trois facteurs explicatifs ce que jappelle la thèse de linteraction explique, en premier lieu, le succès de la transition du socialisme vers léconomie de marché en Allemagne de lOuest de laprèsguerre, ensuite pourquoi la transition vers le capitalisme en Europe de lEst demeure incertaine, et, enfin, pourquoi le recours à des politiques économiques fondées sur la science économique néoclassique a revigoré les partis politiques à orientation socialiste. La conclusion est que la thèse de linteraction est une méthode féconde et peut-être nécessaire pour analyser les changements institutionnels ainsi que leurs causes, leurs directions et leurs conséquences.","PeriodicalId":231500,"journal":{"name":"Journal des �conomistes et des �tudes Humaines","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2001-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123777339","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}