Frank Hyneman Knight

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The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.

Knight, Frank Hyneman

 

Born Nov. 7, 1885, near McLean, 111.; died Apr. 15, 1972, in Chicago. American economist.

Knight was educated at the University of Tennessee and Cornell University. In 1919 he became an instructor at the University of Iowa and from 1928 until his retirement taught at the University of Chicago. Knight looked upon economic theory as a science that uses analysis of economic behavior by producers and consumers to derive general propositions about the principles underlying the economic system. Knight believed that exchange determines production. An ardent apologist of capitalism, Knight thought that the entrepreneur plays an important dynamic role in production. He considered the workers’ demands for higher pay to be unjustified interference in a faultless market mechanism.

WORKS

The Ethics of Competition. [London] 1935.
The Economic Organization. New York, 1951.
Essays on the History and Method of Economics. [Chicago, 1956.]
Risk, Uncertainty and Profit. New York, 1957.
Intelligence and Democratic Action. Cambridge, Mass., 1960.
The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
Newport Beach, CA -- Newmark Frank Knight (NKF) is pleased to welcome Troy Wooton as senior managing director in its Orange County office.
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[1] Some conceptual and epistemological parallelisms and discrepancies between Friedman's and Weber's (and Frank Knight's) texts are identified in order to argue that even though Friedman uses in his F53 the very Weberian term ideal type, he turns away from Weberian methodology in some important aspects.
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Taipei is the 43rd wealthiest city in the world, with New York retaining the mantle as the world's richest city according to a report published by REPro Frank Knight today.
Recent statistics from Frank Knight, a global real estate consultancy firm, reveal that the existing malls in the UAE, combined with the ones that are in the pipeline, will together account for ten million square meters of retail space by 2020, promising a bright future for malls.
Recent statistics from real estate consultancy Frank Knight say that the existing malls in the UAE, together with ones in the pipeline, will account for 10 million square metres of retail space by 2020.
In the senior event Chris Timms took silver on 18 points, his second silver of the weekend after racing to second in Sheffield on Saturday in the Frank Knight Memorial trophy.
All of this was known to the great theorists of the 1920s and 1930s: Hayek, Frank Knight, and John Maynard Keynes.
The year 2017 marks the 70th anniversary of the publication of Frank Knight's Freedom & Reform, a collection of 14 essays initially published in the 1930s and 1940s.