Politická ekonomie
Politická ekonomie
Politická ekonomie
TEORETICKÝ ČASOPIS • ISSN 0032-3233 (Print) • ISSN 2336-8225 (Online)

Politická ekonomie Vol. 67 No. 2

Zakladatel chicagské školy Frank Hyneman Knight

DOI: https://doi.org/10.18267/j.polek.1220

[plný text (PDF)]

Marek Loužek

Frank Hyneman Knight made a significant contribution to neoclassical economics. The paper aims to examine his economic theory and political philosophy. The first part outlines the life of Frank Knight. The second part examines his thesis titled “Risk, Uncertainty and Profit” (1921). The third part analyses “The Economic Organization” (1933). The fourth part discusses the book “The Ethics of Competition” (1935). The fifth part takes a look at the political philosophy in the book “Freedom and Reform” (1947). The sixth part highlights the significance of Knight for the Chicago School.

JEL klasifikace: B13, B25, B31, D40

Barzel, Y. (1987). Knight’s ’Moral Hazard’ Theory of Organization. Economic Inquiry, 25(1),

117–120, https://doi.org/10.1111/j.1465-7295.1987.tb00726.x

Breit, W., Ransom, R. J. (1982). The Academic Scribbler. Chicago: Dryden Press.

Brooke, G. T. F. (2010). Uncertainty, Profit and Entrepreneurial Action: Frank Knight’s

Contribution Reconsidered. Journal of the History of Economic Thought, 32(2), 221–235,


Buchanan, J. M. (1987). The Economizing Element in Knight’s Ethical Critique of Capitalist

Order. Ethics, 98(1), 61–75, https://doi.org/10.1086/292916

Buchanan, J. (1968). Frank Knight, in Sills, D., ed., The International Encyclopedia of the Social

Sciences. New York: Macmillan, pp. 424–428.

Emmett, R. B. (2009). Frank Knight and the Chicago School in American Economics. London –

New York: Routledge, https://doi.org/10.4324/9780203881743

Farrant, A. (2004). Frank Knight, Worst-Case Theorizing, and Economic Planning: Socialism

as Monopoly Politics. History of Political Economy, 36(3), 497–504, https://doi.org/10.1215/00182702-36-3-497

Fontaine, P. (1999). Classical Political Economy between Two Fires: Jean-Baptiste Say and Frank

Knight on the Enterprise Economy. History of Political Economy, 31(1), 1–28, https://doi.org/10.1215/00182702-31-1-1

Gonce, R. A. (1972). Frank H. Knight on Social Control and the Scope and Method of Economics.

Southern Economic Journal, 38(4), 547–548, https://doi.org/10.2307/1056511

Hammond, J. D. (1991). Frank Knight’s Antipositivism. History of Political Economy, 23(3),

359–381, https://doi.org/10.1215/00182702-23-3-359

Hands, D. W. (2006). Frank Knight and Pragmatism. European Journal of the History of Economic

Thought, 13(4), 571–605, https://doi.org/10.1080/09672560601025779

Hayek, F. A. von (1978). New Studies in Philosophy, Politics, Economics and the

History of Ideas. Chicago: University of Chicago Press, https://doi.org/10.7208/


Henderson, J. P. (1976). The History of Chicago School of Political Economy, in Samuels, W., ed.,

The Chicago School of Political Economy. East Lansing, Mich.: Association for Evolutionary

Economics and Division of Research, Michigan State University.

Jarvis, D. S. L. (2010). Theorizing Risk and Uncertainty in Social Enquiry: Exploring the

Contribution of Frank Knight. History of Economics Review, 52(1), 1–26, https://doi.org/10.1


Johnson, A. S. (1952). Pioneer’s Progress. An Autobiography. New York: Viking Press.

ISBN 978-0670556113.

Kasper, S. D. (1993). Frank Knight’s Case for Laissez Faire: The Patrimony of the Social

Philosophy of the Chicago School. History of Political Economy, 25(3), 413–433,


Kern, W. S.: The Heterodox Economics of “The Most Orthodox of Orthodox Economists”:

Frank Knight. American Journal of Economics and Sociology, 56(3), 319–330, https://doi.org/10.1111/j.1536-7150.1997.tb03363.x

Knight, F. H. (1921). Risk, Uncertainty and Profit. Boston, MA: Houghton Mifflin.

Knight, F. H. (1923). The Ethics of Competition. Quarterly Journal of Economics, 37(4), 579–624,


Knight, F. H. (1924). The Limitations of Scientific Method in Economics, in Tugwell, R. G., ed.,

The Trend of Economics. New York: Alfred A. Knopf.

Knight, F. H. (1928). Historical and Theoretical Issues in the Problem of Modern Capitalism.

Journal of Economic and Business History, 1, 119–136.

Knight, F. H. (1930). Statik and Dynamik zur Frage der Mechanischen Analogie in der

Wirtschaftswissenschaften. Zeitschrift für Nationalökonomie, (anglicky) 2, 1–26.

Knight, F. A. (1933). The Economic Organization. New York: Augustus M. Kelley.

Knight, F. H. (1935). The Ethics of Competition. New York: Harper.

Knight, F. (1982). Freedom and Reform. Essays in Economics and Social Philosophy. Indianapolis:

Liberty Press. ISBN 978-0865970052.

Knight, F. H. (1991). The Case for Communism: From the Standpoint of an Ex-Liberal. Research

in the History of Economic Thought and Methodology, 2, 57–108.

Langlois, R. N., Cosgel, M. M. (1993). Frank Knight on Risk, Uncertainty, and the

Firm. A New Interpretation. Economic Inquiry, 31 (3), 456–465, https://doi.org/10.1111/j.1465-7295.1993.tb01305.x

McKinney, J. W. (1977). Frank Knight on Uncertainty and Rational Action. Southern Economic

Journal, 43(4), 1438–1452, https://doi.org/10.2307/1057110

Marchionatti, R. (2003). On the Methodological Foundations of Modern Microeconomics: Frank

Knight and the “Cost Controversy” in the 1920s. History of Political Economy, 35(1), 49–75,


Mehta, N. (2003). Frank Knight and the Productivity of Capital: Another Piece

of the Puzzle. Journal of History of Economic Thought, 25(4), 487–503, https://doi.org/10.1080/1042771032000147524

Patinkin, D. (1973). Frank Knight as Teacher. American Economic Review, 63, 787–810.

Purcell, E. A. (1973). The Crisis of Democratic Theory: Scientific Naturalism and the Problem

of Value. Lexington, KY: University Press of Kentucky.

Raines, P., Jung, C. R. (1986). Knight on Religion and Ethics as Agents of Social Change: An Essay

to Commemorate the Centennial of Frank H. Knight’s Birth. American Journal of Economics

and Sociology, 45(4), 429–439, https://doi.org/10.1111/j.1536-7150.1986.tb01939.x

Reder, M. W. (1982). Chicago Economics: Permanence and Change. Journal of Economic

Literature, 20(1), 1–38.

Roháč, D. (2012). Knight, Habermas and Rawls on Freedom, Personhood and Constitutional

Choice. The European Journal of the History of Economic Thought, 19(1), 23–43,


Runde, J. (1998). Clarifying Frank Knight’s Discussion of the Meaning of Risk and Uncertainty.

Cambridge Journal of Economics, 22(5), 539–546, https://doi.org/10.1093/cje/22.5.539

Schwarz, J. (2005). Frank Hyneman Knight, in Holman, R. a kol., Dějiny ekonomického myšlení.

Praha: C. H. Beck, pp. 420–422.

Stigler, G. (1971). Foreword, in Knight, F. H., ed., Risk, Uncertainty and Profit. Chicago: University

of Chicago Press.

Stigler, G. (1987). Frank Hyneman Knight, in Eatwell, M., Milgate, M., Newman, P., eds., The New

Palgrave: A Dictionary of Economics. New York: Stockton Press, pp. 55–59.

Vorovka, K. (1929). Americká filosofie. Praha: Sfinx Bohumil Janda.

Yu, T. F. (2002). The Economics of Frank Knight: An Austrian Interpretation. Forum for Social

Economics, 31(2), 1–23, https://doi.org/10.1007/bf02779057