Rev Austrian Econ (2011) 24:85–89 DOI 10.1007/s11138-010-0139-8 On the hermeneutics debate: An introduction to a symposium on Don Lavoie's “The Interpretive Dimension of Economics—Science, Hermeneutics, and Praxeology” Virgil Henry Storr Published online: 30 December 2010 Springer Science+Business Media, LLC 2010 Donald Lavoie is best known outside of Austrian economics for his work on the “socialist calculation debate.” In his Rivalry and Central Planning (1985), published by Cambridge University Press, he argued that the traditional account of the debate over the possibility of rational economic calculation under socialism was incorrect. While it was widely argued that the Austrians lost that debate to the market socialists, Lavoie established that Lange and Lerner never really addressed Mises and Hayek's chief concerns. Rather than losing the debate, as Lavoie demonstrated, the Austrians actually won it. After Lavoie, it became impossible to maintain the standard account. Ironically, Lavoie is probably best known within Austrian economics for his role in starting, advancing, and, then, supposedly losing another debate that embroiled the Austrian school. The “hermeneutics debate” began in 1985 when George Mason University's Center for the Study of Market Processes released Don Lavoie's working paper “The Interpretive Dimension of Economics—Science, Hermeneutics, and Praxeology.” Lavoie argued
The Review of Austrian Economics – Springer Journals
Published: Dec 30, 2010
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