TY  - JOUR
AB  - This paper discusses Frank H. Knight's thought under three major themes, namely subjectivism, interpretation and social economics. Knight's economics starts with a conscious mind construct which is able to infer under partial knowledge. Conscious human action is purposive, forward looking and extends towards other individuals. Rejecting neoclassical positivism, Knight points to the need for economics to reconceptualize itself as an interpretative study, a methodology in the Weberian tradition. Furthermore, his allure for phenomenological economics opens a methodological possibility for the Austrian School of Economics. This paper concludes that Knight's insight earns himself a place in the history of subjectivist economics.
VL  - 31
IS  - 7
SN  - 0306-8293
DO  - 10.1108/03068290410540864
UR  - https://doi.org/10.1108/03068290410540864
AU  - Fu‐Lai Yu Tony
PY  - 2004
Y1  - 2004/01/01
TI  - Frank H. Knight's thought revisited: Subjectivism, interpretation and social economics
T2  - International Journal of Social Economics
PB  - Emerald Group Publishing Limited
SP  - 655
EP  - 666
Y2  - 2024/04/19
ER  -