LEADER 04178nam 22006015 450 001 9910484205703321 005 20230810172730.0 010 $a3-030-71800-X 024 7 $a10.1007/978-3-030-71800-8 035 $a(CKB)4100000011902693 035 $a(MiAaPQ)EBC6566974 035 $a(Au-PeEL)EBL6566974 035 $a(OCoLC)1249472116 035 $a(DE-He213)978-3-030-71800-8 035 $a(EXLCZ)994100000011902693 100 $a20210420d2021 u| 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 14$aThe Evolutionary Invisible Hand $eThe Problem of Rational Decision-Making and Social Ordering over Time /$fby Matú? Po?vanc 205 $a1st ed. 2021. 210 1$aCham :$cSpringer International Publishing :$cImprint: Palgrave Macmillan,$d2021. 215 $a1 online resource (311 pages) 225 1 $aPalgrave Studies in Classical Liberalism,$x2662-6489 311 $a3-030-71799-2 320 $aIncludes bibliographical references and index. 327 $aChapter 1: Introduction -- Chapter 2: Why Are We Economically Successful? -- Chapter 3: In Defense of the Invisible Hand Concept. Modification of Austrian Theory of Equilibration and Social Ordering -- Chapter 4: The Problem of Indifference and Choice. An answer to Nozick´s Challenge to Austrians -- Chapter 5: Conclusion. 330 $aThe book presents a new theoretical approach to the description of economic phenomena over time. A realistic and meaningful description of economic phenomena over time is one of the basic preconditions for the success of any economic theory. The presented theoretical solution or proposal has two main characteristics. The first is a modification of the theory of subjective value in the form of the claim that one perceives the satisfaction of one's needs in the context of one's overall individual portfolio of goods. The causal relationship of the ?old? theory in the form of ?need is satisfied by good? is modified in terms of ?sum of needs is satisfied by portfolio of goods (sum of goods)?. This is a small modification, which, however, brings several important elements to the description of economic phenomena over time. The old theoretical approach did not enable us to operate over time because of different value context of goods which is changing over time. However, the portfolio of goods is, in fact, a formally-logical homogeneous construction of the mind, which is applicable over time. The second characteristic is the anchoring of this modification of the theory of subjective value in evolutionary (intersubjective) apriorism. The book will be of interest to any Austrian and Mainstream Economists who deal with problems of description of economic phenomena in time. Also, for those involved in topics such as estimating of future, why entrepreneurs are successful or the problem of social ordering or equilibration and those who are interested in the new evolutionary approach to the emergence of criteria for rational decision-making. Matú? Po?vanc is the director of the F.A. Hayek Foundation Bratislava, Slovakia. He deals with issues of economic cycles, the theory of money and banking, as well as general economic theories. He also cooperates as a senior fellow expert with several Slovak business organizations. . 410 0$aPalgrave Studies in Classical Liberalism,$x2662-6489 606 $aSchools of economics 606 $aEconomics$xHistory 606 $aPhilosophy 606 $aHeterodox Economics 606 $aHistory of Economic Thought and Methodology 606 $aPhilosophy 615 0$aSchools of economics. 615 0$aEconomics$xHistory. 615 0$aPhilosophy. 615 14$aHeterodox Economics. 615 24$aHistory of Economic Thought and Methodology. 615 24$aPhilosophy. 676 $a330.01 676 $a330 700 $aPoe?svanc$b Matu?e?s$01035360 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910484205703321 996 $aThe evolutionary invisible hand$92455041 997 $aUNINA