The economics of time and ignorance

by Gerald and Rizzo Mario J.;Garrison Roger W. O'Driscoll, Mario J. Rizzo

The Economics of Time and Ignorance is one of the seminal works in the development of modern Austrian economics. Building on the work of Hayek, Lachman and Shackle, the authors engage in a powerful critique of neo-classical economics. O'Driscoll and Rizzo argue against neo-classical models which use inappropriate pretenses of knowledge and are overly deterministic. This key text has helped set the agenda for the remarkable revival of work on the Austrian economic tradition and has led to an even wider interest in the once heretical ideas of Austrian economists.The Economics of Time and Ignorance is reprinted here with a substantial new introduction which outlines the major developments in the area since the books original publication a decade ago.

Genres: Economics

261 pages, Hardcover

First published January 1, 1985