Market Process and Market Order

From Human Action, But Not of Human Design

Rosolino A. Candela, Rosolino A. Candela, Jeffrey Carroll , Kristen R. Collins

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English

Lexington Books/Fortress Academic
08 April 2024

Society & culture: general; Economic theory & philosophy; Behavioural economics

Series: Economy, Polity, and Society

This volume explores and engages with the key thinkers and ideas of the Austrian School of economics to better understand how individuals coordinate their separate interests in a peaceful and productive manner by unintentionally forming not only market prices but also rules, customs, cultural norms and other institutional arrangements that allow specialization and trade. Together, these dynamics generate a market order by ameliorating the potential for social conflict, and, in turn, facilitate the conditions for social cooperation and specialization under the division of labor. The diversity in topics and approaches will make the volume of interest to readers in a variety of fields, including anthropology, economics, entrepreneurship, history, philosophy, political science, and public policy.

Contributions by: Rosolino A. Candela, Jeffrey Carroll, Kristen R. Collins
Edited by: Rosolino A. Candela, Kristen R. Collins
Imprint: Lexington Books/Fortress Academic
Country of Publication: United States
Dimensions: Height: 228mm, Width: 151mm, Spine: 22mm
Weight: 467g
ISBN: 9781666915037
ISBN 10: 1666915033
Series: Economy, Polity, and Society
Pages: 300
Publication Date: 08 April 2024
Audience: Professional and scholarly , Undergraduate
Format: Paperback
Publisher's Status: Active

Introduction: From Human Action, but Not of Human Design: The Market Process and the Market Order by Rosolino A. Candela, Kristen R. Collins, and Christopher J. Coyne Part I: Market Process Theory in Context Chapter 1: Federalism-Preserving Markets by Andrey Yushkov Chapter 2: Keeping the Money Stream Stable: Hayek’s Response to Wicksell and Its Implications for Monetary Policy Today by Casey Pender Part II: Cultural and Social Embeddedness of a Market Order Chapter 3: Austrian Economics on Mushrooms: A Mycelial Approach to Understanding Market Processes in Disaster Recovery Planning in Vancouver, Canada by Jonathan Eaton Chapter 4: Sociocultural Markets: Matrifocal Families and Social Capital in the Caribbean Region and Diaspora by Kayleigh Thompson Part III: Entrepreneurship, Knowledge, and the Market Process Chapter 5: Foreign (Aid) in a Domestic Sense: Public Health in an Unincorporated Territory by Brian Marein Chapter 6: Informal Institution Entrepreneurs and the Knowledge Problem by Shadwa Zaher Chapter 7: From Raid to Trade in Medieval Dublin: Entrepreneurship and the Emergence of a Trade Diaspora by Craig Lyons Part IV: Social Change and the Market Order Chapter 8: Hayekian Utopianism by Jeffrey Carroll Chapter 9: How it Can Pay to Be Moral: Markets and the Demand for Morality by Alexander Motchoulski Chapter 10: Critical Studies of International Development Education and Austrian Political Economy: Diverging Approaches and Converging Concerns by Mariam Sedighi

Rosolino A. Candela is senior fellow at the F. A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at George Mason University. Kristen R. Collins is senior fellow at the F. A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at George Mason University. Christopher J. Coyne is professor of economics at George Mason University and associate director at the F. A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at George Mason University.

Reviews for Market Process and Market Order: From Human Action, But Not of Human Design

This new collection illustrates the continued relevance and promise of Austrian market process thinking for understanding the social world. --Laura Grube, Beloit College This volume expands our understanding of the relevance of the market process and market order in the Austrian tradition for political economy today. By applying insights about imperfect human beings who still can form helpful institutions through collective actions rather than one intelligent designer to many aspects of political life, the volume demonstrates the wide applicability of the Austrian tradition of political economy across several policy issues from federalism to Chinese entrepreneurship to education reform. --Brianne Wolf, Michigan State University