Notes on Sandye Gloria-Palermo's The Evolution of Austrian EconomicsPage 40: Gloria-Palermo contrasts subjective and objective criteria for defining economic concepts.

Page 43: Menger employs a double mapping where needs are first ordered and then goods are found to fit them. This leads to his discrete conception of marginal utilitybecause the goods in the second mapping are not continuous and infinitely divisible, as the Walrasians seem to assume.

Page 43: Menger focuses on essences while Bohm-Bawerk focuses on symptoms.

Neoclassicals and Austrians differ on the conception of competition. Neoclassicals see it as a structure whereas Austrians see it as a dynamic process.

Page 84: Mises describes competition as a selective process where actors' ability to take advantage of future uncertainty is put to the test. Taking advantage of uncertainty is an interesting notion.

Page 86: Hayek defines competition as a process of knowledge discovery.

Page 88: Hayek differentiates between scientific knowledge and the knowledge of particular circumstances of time and place. Consider the latter in relation to Heidegger and Dasein. The latter cannot be listed for an authority, but the market enables us to use it.

For Hayek, the folly of central planning seems to be in treating local knowledge as scientific knowledge and yet at the same time he seems to be praising market competition for being able to transcribe local knowledge into scientific knowledge via prices.

Hayek considers the market to be a more effective method of discovery. But one has to wonder whether what there is to be discovered would be identical in both socialism and capitalism.

Page 99: Gloria-Palermo revisits a priori definitions and considers the problem with defining labor and leisure from this basis.

Gloria-Palermo's transfer of Richardson's criticism of general equilibrium to that of the entrepreneurial theory of Kirzner is effective and devastating.

Kirzner's entrepreneur is a discoverer, an equilibrator; Schumpeter's is a creator, a disequilibrator.

Kirzner assumes an underlying objective reality.

Lachmann adopts a causal-genetic analysis opposed to the functionalist analysis of Walras and Mach. (Refers to Hans Mayer: The Cognitive Value of Functional Theories of Price. And Lachmann in Austrian Economics in the Present Crisis of Economic Thought.)

Lachmann assigns causal power only to the subjective actions of individuals. One wonders whether economic structures (relations) might also have causal power.

According to Lachmann, there is no uniform relationship between a set of observable events and expectations. Here we have another instance of double mapping.

Page 121: The divergence of expectations is an illustration of free will. One is reminded of Heidegger here, where death is what is ones ownmost possibility, and thus being-towards-death constitutes freedom.

Expectations are connected with the imagination (consider in connection with Kant and Lacan).

Shackle: time is a denial of the omnipotence of reason.

Institution means virtually the same thing as ideology

Hayek's view of social evolution is Lamarckian: the function creates the organ.

Because of its methodological individualism, Austrian theory is limited to see institutions as only effects and not causes.

Page 154: Menger quote against the dogmatic privileging of organic orders.

Gloria-Palermo defines ideology as prescientific convictions.