Mirowski, Philip
The Knowledge We Have Lost in Information
- ISBN 13:
- 9780190270056
- author:
- Mirowski, Philip
- format:
- HardBack
- publisher:
- Oxford University Press Inc
- language:
- English
- Publication Year:
- 2017
- Pages:
- 312
- Dimensions:
- 21.59 x 14.99 x 2.54 centimetres
- Genre:
- 21.59 x 14.99 x 2.54 centimetres, Business, Economics, Microeconomics,
- Condition:
- New
- Availability:
- Item usually sent within 10 working days
Description
The Knowledge We Have Lost in Information: The History of Information in Modern Economics This book explores how information has been treated in modern economics, revealing that conventional wisdom on "economic rationality" is incomplete. Philip Mirowski and Edward Nik-Khah argue that the history of modern microeconomics should be understood as a story about the development of information theory. The authors examine how economists have responded to key developments in the concept of information, from its origins in natural sciences to its application in economics. They detail intellectual battles over the definition, analysis, and use of information in economic models, highlighting how these debates led to a shift towards market design as an information processor. This has had significant implications for policy, including the design of auctions for resources like the electromagnetic spectrum. By examining the intersection of disputes within the economics discipline and the increasing role of information in contemporary society, Mirowski and Nik-Khah provide insight into how neoliberal approaches to economics, politics, and other fields came to dominate.
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