Should control theory be used for economic stabilization?

Research output: Contribution to journalArticle

42 Citations (Scopus)

Abstract

In a genetic-historical view of the fundamental revolution in outlook which represents the real beginning of modern natural science was the discovery that the inert objects of nature are not like men, i.e., subject to persuasion, exhortation, coercion, deception, etc., but are "inexorable." The position which we have to combat seems to rest upon an inference, characteristically drawn by the "best minds" of our race, that since natural objects are not like men, men must be like natural objects (Knight, 1941, p. 121).

Original languageEnglish (US)
Pages (from-to)13-38
Number of pages26
JournalCarnegie-Rochester Confer. Series on Public Policy
Volume7
Issue numberC
DOIs
StatePublished - 1977
Externally publishedYes

Fingerprint

Economics
Control theory
Stabilization
Persuasion
Nature
Knight
Coercion
Inference
Deception

Cite this

Should control theory be used for economic stabilization? / Prescott, Edward.

In: Carnegie-Rochester Confer. Series on Public Policy, Vol. 7, No. C, 1977, p. 13-38.

Research output: Contribution to journalArticle

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