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Methodological solipsism and kaleidoscopic worlds of Ludwig Mauritz Lachmann

Methodological solipsism and kaleidoscopic worlds of Ludwig Mauritz Lachmann

Journal of Economic Regulation, , Vol. 6 (no. 2),

Among the Austrians fifth generation occupies a special place disciple of Friedrich A. von Hayek, economist, distracting from the overall flow of the Austrians, Ludwig M. Lachmann. Using the framework of his theory of the fundamental assumptions of the Austrian School (individualism, subjectivism), Lachmann did not try to pull them under the base of normative conclusions about the structure of the economic system of society, but rather, an attempt to build a more rigorous theory of the social world order. German economist, recognizing the importance of the concept of subjective value, pay attention to its insufficiency and stressed the need to incorporate to construct a theory of subjectivity expectations that brings his views with the views of John Maynard Keynes. Following George Shackle Ludwig Lachmann believes that the economy is similar to a kaleidoscope: the elements of economic reality are in constant rearrangement, creating continuously changing each other short-lived and unstable patterns. The author of the paper analyzes the concepts and ideas of Ludwig M. Lachmann, noting both the strengths and weaknesses of his theory. The author shows the importance of the theoretical development of the German economist for modern economics.


Keywords: history of economic thought; Austrian school; liberalism; Kaleidic Society; capital; methodology of economics; subjectivism

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