Virgil Henry Storr: Understanding the culture of markets

Virgil Henry Storr: Understanding the culture of markets Rev Austrian Econ (2015) 28:209–211 DOI 10.1007/s11138-013-0229-5 New York, NY: Routledge, 2013, xvi + 168 pages, USD 135 (hardback) Gene Callahan Published online: 2 July 2013 Springer Science+Business Media New York 2013 In this book, Virgil Storr has set out to convince economists that they should pay both more and the right sort of attention to markets. The first thing I wish to note is that he has taken on an interesting challenge. On the one hand, he wants to take culture into account in a more robust fashion than current economics tends to do. He must do more than simply treat culture as another variable in a consumption or production function, because if he does not the reaction will be “Well, yes, we already do that.” On the other hand, by doing more with culture, he risks leaving the field of economics altogether and beginning to write either history or what Eric Voeglin would call “philosophical anthropology.” In fact, as related in the preface, this is exactly what Israel Kirzner wrote to Storr about his work: Very good and very interesting, but it’sjust not economics. Kirzner claimed that economist had “altogether properly abstracted” price theory from its cultural http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Review of Austrian Economics Springer Journals

Virgil Henry Storr: Understanding the culture of markets

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Publisher
Springer US
Copyright
Copyright © 2013 by Springer Science+Business Media New York
Subject
Economics / Management Science; Public Finance & Economics; Political Science, general; Methodology and the History of Economic Thought
ISSN
0889-3047
eISSN
1573-7128
D.O.I.
10.1007/s11138-013-0229-5
Publisher site
See Article on Publisher Site

Abstract

Rev Austrian Econ (2015) 28:209–211 DOI 10.1007/s11138-013-0229-5 New York, NY: Routledge, 2013, xvi + 168 pages, USD 135 (hardback) Gene Callahan Published online: 2 July 2013 Springer Science+Business Media New York 2013 In this book, Virgil Storr has set out to convince economists that they should pay both more and the right sort of attention to markets. The first thing I wish to note is that he has taken on an interesting challenge. On the one hand, he wants to take culture into account in a more robust fashion than current economics tends to do. He must do more than simply treat culture as another variable in a consumption or production function, because if he does not the reaction will be “Well, yes, we already do that.” On the other hand, by doing more with culture, he risks leaving the field of economics altogether and beginning to write either history or what Eric Voeglin would call “philosophical anthropology.” In fact, as related in the preface, this is exactly what Israel Kirzner wrote to Storr about his work: Very good and very interesting, but it’sjust not economics. Kirzner claimed that economist had “altogether properly abstracted” price theory from its cultural

Journal

The Review of Austrian EconomicsSpringer Journals

Published: Jul 2, 2013

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