Frank H. Knight on social values in economic consumption: an archival note

Luca Fiorito, Massimiliano Vatiero

Risultato della ricerca: Articlepeer review

Abstract

We reproduce an unpublished address on “Social Values in Economic Consumption” which Knight prepared for a SSRC Conference in June 1931. This material sheds new light on Knight in two respects. First, anticipating what is known as the relative income hypothesis, Knight indicated that a general increase in income, not only leaves the individual’s relative position in society unaltered but makes her/his situation worse off due to the peculiar characteristics of the market for “personal services.” Second, this address provides further evidence of how, in spite of some substantial methodological differences, Knight’s research interests converged with those of the institutionalists.
Lingua originaleEnglish
pagine (da-a)1-16
Numero di pagine16
RivistaEUROPEAN JOURNAL OF THE HISTORY OF ECONOMIC THOUGHT
Stato di pubblicazionePublished - 2020

All Science Journal Classification (ASJC) codes

  • ???subjectarea.asjc.1200.1200???
  • Economics, Econometrics and Finance (miscellaneous)
  • History and Philosophy of Science

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