A Discussion on Empirical Micro-Bases of Hayek’s Methodological Individualism

Zhao, Liang and Zhu, Xian Chen (2007): A Discussion on Empirical Micro-Bases of Hayek’s Methodological Individualism.

Abstract

There are essential differences in ‘methodological individualism(MI)’ between neoclassic economics and Hayek’s theory. On basis of The Sensory Order, this paper shows relations between Hayek’s MI and it, the micro-bases of Hayek’s MI from contemporarily empirical disciplines, and some viewpoints verified by succeeding ones; then points out some questions that need to be answered henceforth between Hayek’s theory and interdisciplinary studies in modern economics. It is concluded that Hayek’s MI has its empirical micro-bases, and that his interdisciplinary exploration in the youth can help advance modern economics.

• Item Type: MPRA Paper
• Institution: school of economics and management, Nanjing University of Science and Technology,China
• Language: English
• Keywords: methodological individualism; Hayek; the sensory order; empirical micro-bases; interdisciplinary research in economics
• Subjects: B - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic Methodology > B49 - Other; B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B53 - Austrian; A - General Economics and Teaching > A1 - General Economics > A12 - Relation of Economics to Other Disciplines

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