Selected Essays by Frank H. Knight, Volume 1

Frank H. Knight (1885-1972) was a central figure in the development of the "Chicago School of Economics" at the University of Chicago in the 1930s and 1940s, where he taught future Nobel laureates Milton Friedman, James Buchanan, George Stigler and many others. It was Knight's embedded scepticism about the reach of economic knowledge that set the stage for the laissez-faire economics that matured at the University in the 1950s and 1960s. But as important as Knight's technical economic contributions were, he never strayed far from his broad philosophical interests and concern for the state of modern liberal democracy. Ross B. Emmett's selection of Knight's essays offers a picture of the work of this social scientist over the span of his career. Included are not only Knight's most influential writings, but also a number of uncollected papers. The essays illustrate Knight's views on the central debates regarding economics, social science, ethics, education and modern liberalism. Volume 1: "What is Truth in Economics?" contains 15 of Knight's papers up through 1940.