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The Sensory Order

The reissue of TSO edited by Viktor Vanberg (originally Chicago University Press) is about to, for some reason, also be published by Routledge. Here is an excerpt from Viktor’s excellent introduction: Among F. A. Hayek’s numerous publications, The Sensory Order (hereafter TSO) is undoubtedly the most unusual. After all, from someone known as an economist…

Faith and the Compatibility of Science and Religion

Here’s an interview with Vernon Smith concerning the relationship of science to religion. I had no idea Vernon felt this way until I read his Discovery – A Memoir (which he so kindly sent me a few years back), so this interview is of no surprise. Despite Vernon’s genuine achievements the fashionably atheist philosopher would “cock a snook” at…

Luck and Learning to Make the Most of It

Here is Vernon Smith on Fortuna. Vernon very kindly wrote the preface to Propriety and Prosperity: New Studies on the Philosophy of Adam Smith. Some call it luck, others call it Providence, and that points to the mystery of the forces that shape us and that we shape—forces well beyond our comprehension.   Adam SmithBehavioral economicsEconomicsfortunaLuckProvidencesituated cognitionTheory…

Smith on Smith

Last but by no means least here is an extract from Vernon’s Smith’s foreword. This book is a welcome addition to the resurgent scholarly and practical interest in Adam Smith’s contributions to market economics and its antecedents in the social order of human culture. In Smith, propriety concerned the rules that govern human sociability by…

Constructivist and Ecological Rationality in Economics

All those interested in extended mind/externalist/situated type thought should be aware of the field of Behavioral Economics (BE) in general and the work of Vernon Smith in particular. BE is a body of literature that was ploughing this trough some twenty years before the hypothesis of extended cognition took root in cognitive science. It is interesting…

Remembering Herbert Simon

Simon died this day in 2001. Check out these two books – Models of a Man (as with most edited books this is uneven, but there is still much to recommend it) and Herbert A. Simon: The Bounds of Reason in Modern America, an excellent intellectual biography. Speaking of Simon, I have a paper coming out entitled…