Time, Uncertainty, and Disequilibrium: Exploration of Austrian Themes

Mario J. Rizzo

The conceptualization of man as engaging in purposeful activity is inconceivable apart from the categories of cause and effect. Unless the means chosen can affect the ends desired in some way, there is no point at all to human action. The categories of cause and effect, in turn, imply the notions before and after. At this point, time has already entered the picture.

The majority of the papers making up this collection were originally presented at the Conference on Issues in Economic Theory: An Evaluation of Current Austrian Perspectives, held at New York University on January 7-8, 1978. The conference was sponsored by the Center for Applied Economics at New York University in cooperation with the Institute for Humane Studies (Menlo Park, California).

Time, Uncertainty, and Disequalibirium by Mario Rizzo
Meet the Author
Mario J. Rizzo

Mario Rizzo teaches economics at New York University.

Mises Daily Mario J. Rizzo
In recent years, Posner abandoned his rational-choice approach in law for what he has been calling "pragmatism." Keynes also thought of himself as a pragmatic, nondoctrinaire person.
Mises Daily Mario J. Rizzo
Much of the policy advice offered recently by commentators, including many economists, is shockingly superficial. It is reminiscent of the simple prime-the-pump ideas of the early Keynes and does not acknowledge Keynes's own cautions and qualifications after the General Theory was published, especially in his advisory work for the UK Treasury in the 1940.
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References

Lexington: Lexington Books, 1979