March 1965
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16 Reads
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65 Citations
The Economic Journal
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March 1965
·
16 Reads
·
65 Citations
The Economic Journal
... Menger linked the concept of institutions as unintended outcomes of individuals' self-interested actions to the views, first, that "pragmatism" (the equivalent of Hayek's "constructivism") "inexorably leads to socialism," and, second, that holistic entities were pure fictions. The nation, for instance, could be a proper economic subject only in a "socialist state" (Menger, 1883(Menger, /1963). Menger's first disciples were cautious imperialists, however. ...
March 1965
The Economic Journal