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Nobel Prize winner Edmond Phelps channels Friedrich Hayek and re-introduces Frank Knight in a brutal take-down of a failed generation botching up the works because they are fatally ignorant of how a capitalist economy actually works. What Phelps is too delicate to say is that the elite have been well schooled in their ignorance by . . . → Read More: edmund phelps: The Elite Don’t Understand How Capitalism Works
The L.S.E.’s 1933 reprint edition of Frank Knight’s Risk, Uncertainty and Profit is available in full view format and in pdf at Google books. Knight’s text was used as the standard microeconomics textbook by Lionel Robbins and Friedrich Hayek at the London School of Economic in the 1930s and 1940s. The editorial note of the . . . → Read More: book: Frank Knight’s “Risk, Uncertainty and Profit” available on Google
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