Pushkinskaya st. 43. office 10
Rostov-on-Don, Russia
e-mail: info@hjournal.ru 
tel. +7(863) 269-88-14

cubsEN (2)

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

  •  Callahan G. (2006). Economics for Real People: an Introduction to the Austrian School. Transl. from English and ed. by D. Volkov and A. Kuryaev. Chelyabinsk, Socium Publ. (In Russian).
  • Foss N. J. and Garzarelli G. (2006). Institutions as Knowledge Capital: Ludwig M. Lachmann’s Interpretative Institutionalism. Cambridge Journal of Economics, vol. 31, pp. 789–804.
  • Garrison R. An Agenda for Macroeconomics. (http://www.auburn.edu/~garriro/b2lachmann.htm - Access Date: 25.03.2015).
  • Garrison R. The kaleidic world of Ludwig Lachmann. (http://www.auburn.edu/~garriro/r8lachmann.htm - Access Date: 25.03.2015).
  • Kirzner I. (1986). Subjectivism, Intelligibility and Economic Understanding. Essays in Honor of Ludwig M. Lachmann on His 80th Birthday. Basingstoke, Macmillan.
  • Koppl R. and Mongiovi G. (2003). Subjectivism and economic analisis. Essays in memory of Ludwig M. Lachmann. Taylor & Francis e-Library.
  • Lachmann L. M. (1950). Economics as a Social Science: Inaugural Lecture. Johannesburg, University of the Witwatersrand.
  • Lachmann L. M. (1956). The Market Economy and the Distribution of Wealth. In On Freedom and Free Enterprise: Essays in Honor of Ludwig von Mises, edited by Mary Sennholz. New York, D. Van Nostrand.
  • Lachmann L. M. (1959). Professor Shackle on the Economic Significance of Time. Metroeconomica, vol. 11 (September), pp. 64–73.
  • Lachmann L. M. (1969 [1977]). Methodological Individualism and the Market Economy. In: Roads to Freedom: Essays in Honor of Friedrich A. Hayek, ed. Erich
  • Streisleret. al. London, Routledge & Kegan Paul, pp. 88-104; Reprinted in Lachmann, pp. 149-165.
  • Lachmann L. M. (1971). Ludwig von Mises and the Market Process. In Toward Liberty: Essays in Honour of Ludwig von Mises, edited by Friedrich A. Hayek. 2 vols. Menlo Park, Calif., Institute for Humane Studies.
  • Lachmann L. M. (1973). Macro-economic Thinking and the Market Economy: An Essay on the Neglect of the Micro-Foundations and Its Consequences. London, Institute of Economic Affairs.
  • Lachmann L. M. (1976). From Mises to Shackle: An Essay on Austrian Economics and the Kaleidic Society. Journal of Economic Literature, March, pp. 54-62.
  • Lachmann L. M. (1978). Capital and its Structure. Kansas City, Sheed, Andrews and McMeel, Inc. Second ed. Institute for Human Studies.Lachmann L. M. (1986). The Market as an Economic Process. Oxford.
  • Lewen P. Ludwig Lachmann (1906-1990): Life and Work. (http://www.utdallas.edu/~plewin/Lachmann%20Legacy.htmwww.utdallas.edu/~plewin/Lachmann%20Legacy.htm - Access Date: 17.03.2015).
  • Lewis P. and Runde J. (2007). Subjectivism, social structure and the possibility of socio-economic order: The case of Ludwig Lachmann. Journal of Economic Behavior & Organization, vol. 62, pp. 167–186.
  • Panorama of Economic Thought at the End of XX Century / Ed. by D. Greenaway, M. Blini, I. Stewart: In 2 vols. / Transl. from English, ed. by V. Avtonomov and S. Afontsev. St. Petersburg, Publ. House "The School of Economics", 2002. (In Russian).
  • Shackle G. (1958). Time in Economics. Amsterdam.
  • Zijp Rudy van. (1995). Lachmann and the wilderness: on Lachmann's radical subjectivism. The European Journal of the History of Economic Thought, pp. 412–433.
Publisher: Ltd. "Humanitarian perspectives"
Founder: Ltd. "Humanitarian perspectives"
Online ISSN: 2412-6047
ISSN: 2078-5429