That the rationality of individual people is ‘bounded’ – that is, finite in scope and representational reach, and constrained by the opportunity cost of time – cannot reasonably be controversial as an empirical matter. In this context, the paper addresses the question as to why, if...

Purpose – To review the significance of Hayek's argument, in The Sensory Order, from a connectionist theory of mental architecture to descriptive and normative individualism. Methodology/approach – The chapter reconstructs Hayek's argument, then replaces Hayek's premises about mental...