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"Strategy" and also in the respect that the theory of repeating games allows
Much to understand in evolution of the behaviour focused on cooperation. The theory
Games, however, does not explain, how selection is carried out corrected cooperation; it
Shows only that strategy, in which basis stable cooperation,
Can be the best for all in the methods of behaviour. Look about it Robert
Axelrod, The Evolution of Cooperation (New York: Basic Books, 1984). On the same
Theme the publication with elements of the Austrian tradition: Bruce L. Benson, The
Enterprise od Law: Justice Without the State (San Francisco: Pacific Institute
for Public Policy Research, 1990).]
Hayek's approach differs from accepted at new classical economists and in
Other relation: it is wider, it integrates an economic theory into the wide
Social philosophy, in it are scheduled political, legal and moral
Aspects of a social order. New classics, on the contrary, pure theorists and not
Have acquired broad support. Leonard Repping, one of the first economists
"Rational expectations", notices that "many young and idealists involve
Freedom and justice concept, instead of efficiency and abundance. Besides
The investment in an economic theory, Fridman and Hayek have created powerful system
Capitalism protection as the system promoting liberal democracy and personal
To freedom. It has involved in their ideas of many people far from economic
Theories. New classics do not have such order of business ". [I Quote under review Kevin
D. Hoover, The New Classical Macroeconomics: A Sceptical Inquiry (New York and
Oxford: Basil Blackwell, 1988) in the Journal of Economic Literature, vol. 28,
March 1990, pp. 71 - 73, esp. p. 73.] And really, followers of the Austrian
Traditions quite often have wide interests, and interdisciplinary character
This tradition does its attractive.
Clearly that revival of the Austrian tradition is obliged to Hayek not less, than to whom
That was to other. But whether its works really "are Austrian
Economic theory "- a part of separate, recognised tradition - or them
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