Category Archives: Frank Knight

edmund phelps: The Elite Don’t Understand How Capitalism Works

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 … Continue reading

Posted in Division of Knowledge, Economics, Frank Knight, Uncertainty | 5 Comments

book: Frank Knight’s “Risk, Uncertainty and Profit” available on Google

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 … Continue reading

Posted in Frank Knight, L.S.E. | 2 Comments