EQUILIBRIUM, KNOWLEDGE AND THE NON-NEUTRALITY OF MONEY IN HAYEK

Authors

DOI:

https://doi.org/10.22456/2176-5456.78770

Keywords:

Hayek, Equilibrium, Money, Knowledge, Neutrality

Abstract

This paper seeks to illustrate a notorious chapter in the history of economic
thought, that is, the monetary foundations of Hayek´s criticism of the concept of equilibrium.
We then analyze the likely theoretical repercussions imposed by this criticism on the
Austrian´s own perception regarding the role of money in the economy. This only becomes
possible through the association between money and knowledge, which was tried by Hayek
already earlier in his theory of the business cycle. The articulation of these concepts – which
were themselves developed independently of each other along Hayek´s academic career –
throws new light, from a different perspective – on the problem of the neutrality of money.

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Author Biography

André Roncaglia de Carvalho, Universidade Federal de São Paulo (UNIFESP)

Professor do Departamento de Economia da Escola Paulista de Política, Economia e Negócios (EPPEN) - UNIFESP

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Published

2019-10-10

How to Cite

Carvalho, A. R. de. (2019). EQUILIBRIUM, KNOWLEDGE AND THE NON-NEUTRALITY OF MONEY IN HAYEK. Análise Econômica, 37(74). https://doi.org/10.22456/2176-5456.78770

Issue

Vol. 37 No. 74 (2019): Setembro/2019

Section

Artigos

License

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