Frank H. Knight: Prophet of Freedom (Great Thinkers in Economics)

This Book Argues For The Reconsideration Of Frank Knight And The Chicago School Of Economic Thought In A Post-financial Crisis World. The Author Posits That The Discussion Of The Founder Of Knightian Uncertainty Can Reveal New Insights Into What The Economy Can Do For Society, As His Prophetic Insights Can Offer A View Into The Soul Of The Modern Economy. The Book First Considers Frank Knight's Early History And The Unfolding Of His Economic Philosophy Before Going On To Evaluate His Enduring Legacy. All Those Interested In The Influence Of Political And Religious Philosophy On Economics Will Be Delighted To Discover The Lasting Impact Of This Great Economic Thinker. David Cowan. "Dedication"--"Preface"--"Contents" -- "1: A Prophet and a Pioneer" -- "1 Godâ#x80;#x99;s Prophet" -- "2 An Observer of Fools" -- "3 Founding of the Chicago School" -- "4 The Intellectual Milieu" -- "5 Economist, Historian, Theologian or Philosopher?" -- "6 Knightâ#x80;#x99;s Legacy" -- "Bibliography" -- "Secondary Sources" -- "2: Knightian Uncertainty" -- "1 Nothing Fundamentally New" -- "2 An Historical Enquiry" -- "3 Perfect Competition and the Real World" -- "4 An Analysis of Risk and Uncertainty" -- "5 Keynes and Knight on Risk and Uncertainty" -- "6 A Social Conclusion" -- "Bibliography" -- "Secondary Sources" -- "3: The Grand Crusade" -- "1 Hayek and Knight: A Protracted Debate" -- "2 Establishing a Capital Interest Theory" -- "3 The Problem of Production and Immortality" -- "4 Seeking Clarity in Capital Interest Theory" -- "5 The Knight and Machlup Exchange" -- "6 The Hicks Solution to the Austrian and Knightian Problem" -- "Bibliography" -- "Secondary Sources" -- "4: Knight contra mundum" -- "1 Knight and the Austrians" -- "2 Knight and Socialism" -- "3 Knight and Kaldor" -- "4 Knight and Keynes" -- "5 Conclusion" -- "Bibliography" -- "Secondary Sources" -- "5: The Economic Organization" -- "1 The Economic Organization" -- "2 The Price System" -- "3 Distribution Theory and Interest" -- "4 Profit and Monopoly" -- "Bibliography" -- "Secondary Sources" -- "6: Understanding the Ethics of Competition" -- "1 Knightâ#x80;#x99;s Classical Greek Roots" -- "2 The Ethics of Competition Foundational Essays" -- "3 Chicago and Austrian Morality" -- "4 The Ethics of Knight and Keynes" -- "5 Knightâ#x80;#x99;s Common Sense Philosophy" -- "6 Knight and Original Sin" -- "Bibliography" -- "Secondary Sources" -- "7: Welfare Economics" -- "1 Knightâ#x80;#x99;s Dissent on Welfare" -- "2 Welfare and Social Limits." Frank H. Knight was co-founder of the "Chicago School". He was, first and foremost, a teacher; a theorist and author second. His work is scattered across many economic journals in essay-form standing on the base of Risk, Uncertainty and Profit, published in 1921. Within the economic world today he is chiefly noted for the notion of 'Knightian Uncertainty', with which he established his reputation in the pantheon of great economic thinkers. While many who passed through his classes and the Chicago School placed great faith in capitalism, Knight remained a critical supporter of capitalism, offering prophetic insights into behavioural economics and economic society. The 2008 recession burst the bubble of optimism, dating back to the 1980s, in what the economy can do for society. This brought back Keynesian insights into thinking about policy today. In this book, the author argues that Knight also deserves reconsideration, as his prophetic insights can offer a view into the soul of the modern economy Front Matter....Pages i-x A Prophet and a Pioneer....Pages 1-25 Knightian Uncertainty....Pages 27-74 The Grand Crusade....Pages 75-98 Knight contra mundum ....Pages 99-127 The Economic Organization....Pages 129-151 Understanding the Ethics of Competition....Pages 153-180 Welfare Economics....Pages 181-205 Freedom and Reform....Pages 207-223 The Economic Order and Religion....Pages 225-245 Why Knight Was (Not) a Conservative Prophet....Pages 247-269 Back Matter....Pages 271-288