A short film clip to relieve the stress of interesting times and a busy day.
I was about to post something more serious but that just came in from Number 1 son.
The serious matter – I want to get hold of a copy of Frank Knight’s classic book Risk, Uncertainty and Profit without waiting for the university library to open or the book to come from the US. Does any Cat have a surplus copy that I can buy (for a song) or swap – I can offer Bohm-Bawerk Capital and Interest, a Critical History of Economical (sic) Theory, Carl Menger Grundsätze der Volkswirtschaftslehre (in English), W. H. Hutt The Theory of Idle Resources (in Huttite) and many other titles, just nominate what you would like and see if I have it.
I need the book to write an essay for a collection of essays in the Journal of Institutional Econonomics in a special issue to commemorate the 100th birthday of the book.
The abstract that I submitted was short listed for the collection provided that the final product survives peer review. The abstract had to be less than 200 words. This is 189.
This essay aims to establish a coherent Knightian legacy in institutional studies to show how he became one of the most exciting, wide-ranging and innovative thinkers in moral philosophy (the original remit of economics) in the twentieth century. He combined rigor, depth and breadth in a unique career that left him with no following and no clearly defined legacy. His rigorous, nuanced and eclectic approach, his uncompromising polemics directed at allies and enemies alike and his willingness to pursue sociological, political and moral issues make him hard to place in the profession. He did not specialize or build a massive system of interlinked ideas or move with the times. Fortunately his fascination with the implications and applications of institutions in the broadest sense can be seen as a core of his concerns all the way from his first work on risk and uncertainty, through his contribution to economic theory in the limited sense, to his historical studies and his meditations on extra-economic institutions and movements. Two movements, namely scientism and socialism, he considered to be especially dangerous for the prospect of peace, freedom and prosperity in a good society.