Some Thoughts on Hayek, Wittgenstein and How to NOT to ‘Model’ Language or the Price System

By Greg Ransom, on December 4th, 2012%

Hayek had a single theme from his 1928 book to his writings and interviews at the end of his life — math constructs *fail* to capture the imperfect *signal* function of prices and the imperfect learning, judging and discovery role of real human beings.

And a simple joke made by a senior LSE faculty . . . → Read More: Some Thoughts on Hayek, Wittgenstein and How to NOT to ‘Model’ Language or the Price System

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Hayek & Wittgenstein — The Parallel Rejection of Formal Modeling as a Proxy for Capturing the Significance of Language or the Causal Mechanism of the Economic Process

By Greg Ransom, on July 8th, 2012%

Academics attempting to make sense of the significance of words & logical implication had a framework for doing so exactly parallel to that of economists attempting to make sense of the significance of prices & the implication of prices for distribution.

In fact, both modern programs in their mature form came out the the same . . . → Read More: Hayek & Wittgenstein — The Parallel Rejection of Formal Modeling as a Proxy for Capturing the Significance of Language or the Causal Mechanism of the Economic Process

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[The] destruction of values by scientific error .. has increasingly come to seem to me the great tragedy of our time. — F. A. Hayek
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