Subjectivism and Economic Analysis: Essays in memory of Ludwig ...

INDEXmarket 119–20; theory of value149Lachmann, Ludwig M. 1–7;expectations in stock markets10, 183–97; hierarchicalmetaphors 9–10, 143–58; onhistory and economics 32–4;and Mises on human action 8,31–57, 67; policy activism 10,163–79; provisional equilibrium(endogenous change and opensystems) 9, 104–22; radicalsubjectivism 9, 125–39;subjectivism of active minds 8,61–77; subjectivism ineconomics/the economy 8,12–29; subjectivism and idealtypes 8–9, 80–98Lachmann problem 8, 61–3;Hayek and 72–7; Keynes and67–8; Mises and 64–7; Schutzand 68–72‘Lachmann’s Law’ 163Lakatos, I. 65Lange, O. 185Langlois, R.N. 71, 73, 138, 144–8passimlanguage 154late classical formalism’ 6Lavoie, D. 164law/legal institutions 10, 150, 153,155–8Law, Legislation and Liberty(Hayek) 133learning process 109–12, 114, 120,122Legacy of Max Weber, The(Lachmann) 3, 7, 8, 9, 144Leibniz, G.W. 69Lerner, A. 2, 3LeRoy, S.R. 76life-world 56liquidity 10, 77, 188, 192;premium 193, 195–6Loasby, B.J. 108, 111Lucas, R. 64Mach, E. 84, 85Machina, M.J. 131Machlup, F. 71, 73, 74marginal analysis 39–41marginal cost 17marginal productivity theory ofdistribution 114–15marginal utility 1, 17, 87–8, 93Marglin, S.A. 115market-clearing hypothesis 118–19Market as an Economic Process,The (Lachmann) 169market equilibrium 5, 9market process 5, 13, 22–3, 28,64, 67–8, 72, 104, 126, 136,149–50, 152markets: conventions 22, 23;coordination functions 7, 14,26–8, 64; efficiency 64, 74,75–6; evolutionary selectionmechanism 73–4, 75; intermarketrelationships 22, 25–8;rules 22, 73–4, 133Marshall, A. 19–20, 27; andequilibrium 15–18martingales 75–6mass psychology 67, 68Mayer, H. 2meaning of action 35, 52–4means/ends 4, 44–5, 48–9, 54, 96,97Menger, C. 2, 3, 6, 16, 24, 31, 51,82, 88–9, 125, 133, 138, 143,144, 147, 149, 151mental acts/activity 4–5‘mental pictures’ 184mental states 86mental structures 83–4, 86–7metaphors 82, 83; hierarchical (ininstitutionalism) 9–10, 143–58methodological dualism 84methodological individualism 4,81, 136, 138methodological legacy of Weber80–98methodological solipsism 81, 82–3,84–9, 91, 98methodological subjectivism 74–5methodology (subjectivism ineconomics) 4, 13–15Milgrom, R 132205