Foundations of The Economics of Time and Ignorance

The Economics of Time and Ignorance grew out of the need to reinvigorate the Austrian School in light of the challenges of contemporary economics. It did this by re-examining the foundations of the Austrian tradition and by making explicit many of its hidden assumptions and implications. The book also attempted to make Austrian economics more of an open system than it had been in the conservationist decades of the 1950s, 60s, and 70s. The degree to which it has been successful is examined in this essay.