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4 books about Hayek, Friedrich A. von
4 books about Hayek, Friedrich A. von
Contra Keynes and Cambridge
Essays, Correspondence
F. A. Hayek
University of Chicago Press, 1995
In 1931, when the young F. A. Hayek challenged the economic theories of John Maynard Keynes, sixteen years his senior, and one of the world's leading economists, he sparked a spirited debate that would influence economic policy in democratic countries for decades. Their extensive exchange lasted until Keynes's death in 1946, and is reprinted in its entirety in this latest volume of The Collected Works of F. A. Hayek.
When the journal Economica published a review of Keynes's Treatise on Money by Hayek in 1931, Keynes's response consisted principlally of an attack on Hayek's own work on monetary theory, Prices and Production. Conducted almost entirely in economics journals, the battle that followed revealed two very different responses to a world in economic crisis. Keynes sought a revision of the liberal political order—arguing for greater government intervention in the hope of protecting against the painful fluctuations of the business cycle. Hayek instead warned that state involvement would cause irreparable damage to the economy.
This volume begins with Hayek's 1963 reminiscence "The Economics of the 1930s as Seen from London," which has never been published before. The articles, letters, and reviews from journals published in the 1930s are followed by Hayek's later reflections on Keynes's work and influence. The Introduction by Bruce Caldwell puts the debate in context, providing detailed information about the economists in Keynes's circle at Cambridge, their role in the acceptance of his ideas, and the ways in which theory affected policy during the interwar period.
Caldwell calls the debate between Hayek and Keynes "a battle for the minds of the rising generation of British-trained economists." There is no doubt that Keynes won the battle during his lifetime. Now, when many of Hayek's ideas have been vindicated by the collapse of collectivist economies and the revival of the free market around the world, this book clarifies Hayek's work on monetary theory—formed in heated opposition to Keynes—and illuminates his efforts to fight protectionism in an age of economic crisis.
F. A. Hayek (1899-1992), recipient of the Medal of Freedom in 1991 and co-winner of the Nobel Memorial Prize in Economics in 1974, was a pioneer in monetary theory and the principal proponent of classical liberal thought in the twentieth century. He taught at the University of London, the University of Chicago, and the University of Freiburg.
When the journal Economica published a review of Keynes's Treatise on Money by Hayek in 1931, Keynes's response consisted principlally of an attack on Hayek's own work on monetary theory, Prices and Production. Conducted almost entirely in economics journals, the battle that followed revealed two very different responses to a world in economic crisis. Keynes sought a revision of the liberal political order—arguing for greater government intervention in the hope of protecting against the painful fluctuations of the business cycle. Hayek instead warned that state involvement would cause irreparable damage to the economy.
This volume begins with Hayek's 1963 reminiscence "The Economics of the 1930s as Seen from London," which has never been published before. The articles, letters, and reviews from journals published in the 1930s are followed by Hayek's later reflections on Keynes's work and influence. The Introduction by Bruce Caldwell puts the debate in context, providing detailed information about the economists in Keynes's circle at Cambridge, their role in the acceptance of his ideas, and the ways in which theory affected policy during the interwar period.
Caldwell calls the debate between Hayek and Keynes "a battle for the minds of the rising generation of British-trained economists." There is no doubt that Keynes won the battle during his lifetime. Now, when many of Hayek's ideas have been vindicated by the collapse of collectivist economies and the revival of the free market around the world, this book clarifies Hayek's work on monetary theory—formed in heated opposition to Keynes—and illuminates his efforts to fight protectionism in an age of economic crisis.
F. A. Hayek (1899-1992), recipient of the Medal of Freedom in 1991 and co-winner of the Nobel Memorial Prize in Economics in 1974, was a pioneer in monetary theory and the principal proponent of classical liberal thought in the twentieth century. He taught at the University of London, the University of Chicago, and the University of Freiburg.
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Hayek on Hayek
An Autobiographical Dialogue
F. A. Hayek
University of Chicago Press, 1994
The crumbling of the Berlin Wall, the fall of the iron curtain, and the Reagan and Thatcher "revolutions" all owe a tremendous debt to F. A. Hayek. Economist, social and political theorist, and intellectual historian, Hayek passionately championed individual liberty and condemned the dangers of state control. Now Hayek at last tells the story of his long and controversial career, during which his fortunes rose, fell, and finally rose again.
Through a complete collection of previously unpublished autobiographical sketches and a wide selection of interviews, Hayek on Hayek provides the first detailed chronology of Hayek's early life and education, his intellectual progress, and the academic and public reception of his ideas. His discussions range from economic methodology and the question of religious faith to the atmosphere of post-World War I Vienna and the British character.
Born in 1899 into a Viennese family of academics and civil servants, Hayek was educated at the University of Vienna, fought in the Great War, and later moved to London, where, as he watched liberty vanish under fascism and communism across Europe, he wrote The Road to Serfdom. Although this book attracted great public attention, Hayek was ignored by other economists for thirty years after World War II, when European social democracies boomed and Keynesianism became the dominant intellectual force. However, the award of the Nobel Prize in economics for 1974 signaled a reversal in Hayek's fortunes, and before his death in 1992 he saw his life's work vindicated in the collapse of the planned economies of Eastern Europe.
Hayek on Hayek is as close to an autobiography of Hayek as we will ever have. In his own eloquent words, Hayek reveals the remarkable life of a revolutionary thinker in revolutionary times.
"One of the great thinkers of our age who explored the promise and contours of liberty....[Hayek] revolutionized the world's intellectual and political life"—President George Bush, on awarding F. A. Hayek the Medal of Freedom
F. A. Hayek, recipient of the Medal of Freedom 1991 and the Nobel Memorial Prize in Economics in 1974, was a pioneer in monetary theory and the principal proponent of the libertarian philosophy. Hayek is the author of numerous books in economics, as well as books in political philosophy and psychology.
Through a complete collection of previously unpublished autobiographical sketches and a wide selection of interviews, Hayek on Hayek provides the first detailed chronology of Hayek's early life and education, his intellectual progress, and the academic and public reception of his ideas. His discussions range from economic methodology and the question of religious faith to the atmosphere of post-World War I Vienna and the British character.
Born in 1899 into a Viennese family of academics and civil servants, Hayek was educated at the University of Vienna, fought in the Great War, and later moved to London, where, as he watched liberty vanish under fascism and communism across Europe, he wrote The Road to Serfdom. Although this book attracted great public attention, Hayek was ignored by other economists for thirty years after World War II, when European social democracies boomed and Keynesianism became the dominant intellectual force. However, the award of the Nobel Prize in economics for 1974 signaled a reversal in Hayek's fortunes, and before his death in 1992 he saw his life's work vindicated in the collapse of the planned economies of Eastern Europe.
Hayek on Hayek is as close to an autobiography of Hayek as we will ever have. In his own eloquent words, Hayek reveals the remarkable life of a revolutionary thinker in revolutionary times.
"One of the great thinkers of our age who explored the promise and contours of liberty....[Hayek] revolutionized the world's intellectual and political life"—President George Bush, on awarding F. A. Hayek the Medal of Freedom
F. A. Hayek, recipient of the Medal of Freedom 1991 and the Nobel Memorial Prize in Economics in 1974, was a pioneer in monetary theory and the principal proponent of the libertarian philosophy. Hayek is the author of numerous books in economics, as well as books in political philosophy and psychology.
[more]
Hayek's Challenge
An Intellectual Biography of F.A. Hayek
Bruce Caldwell
University of Chicago Press, 2003
Friedrich A. Hayek is regarded as one of the preeminent economic theorists of the twentieth century, as much for his work outside of economics as for his work within it. During a career spanning several decades, he made contributions in fields as diverse as psychology, political philosophy, the history of ideas, and the methodology of the social sciences. Bruce Caldwell—editor of The Collected Works of F. A. Hayek—understands Hayek's thought like few others, and with this book he offers us the first full intellectual biography of this pivotal social theorist.
Caldwell begins by providing the necessary background for understanding Hayek's thought, tracing the emergence, in fin-de-siècle Vienna, of the Austrian school of economics—a distinctive analysis forged in the midst of contending schools of thought. In the second part of the book, Caldwell follows the path by which Hayek, beginning from the standard Austrian assumptions, gradually developed his unique perspective on not only economics but a broad range of social phenomena. In the third part, Caldwell offers both an assessment of Hayek's arguments and, in an epilogue, an insightful estimation of how Hayek's insights can help us to clarify and reexamine changes in the field of economics during the twentieth century.
As Hayek's ideas matured, he became increasingly critical of developments within mainstream economics: his works grew increasingly contrarian and evolved in striking—and sometimes seemingly contradictory—ways. Caldwell is ideally suited to explain the complex evolution of Hayek's thought, and his analysis here is nothing short of brilliant, impressively situating Hayek in a broader intellectual context, unpacking the often difficult turns in his thinking, and showing how his economic ideas came to inform his ideas on the other social sciences.
Hayek's Challenge will be received as one of the most important works published on this thinker in recent decades.
Caldwell begins by providing the necessary background for understanding Hayek's thought, tracing the emergence, in fin-de-siècle Vienna, of the Austrian school of economics—a distinctive analysis forged in the midst of contending schools of thought. In the second part of the book, Caldwell follows the path by which Hayek, beginning from the standard Austrian assumptions, gradually developed his unique perspective on not only economics but a broad range of social phenomena. In the third part, Caldwell offers both an assessment of Hayek's arguments and, in an epilogue, an insightful estimation of how Hayek's insights can help us to clarify and reexamine changes in the field of economics during the twentieth century.
As Hayek's ideas matured, he became increasingly critical of developments within mainstream economics: his works grew increasingly contrarian and evolved in striking—and sometimes seemingly contradictory—ways. Caldwell is ideally suited to explain the complex evolution of Hayek's thought, and his analysis here is nothing short of brilliant, impressively situating Hayek in a broader intellectual context, unpacking the often difficult turns in his thinking, and showing how his economic ideas came to inform his ideas on the other social sciences.
Hayek's Challenge will be received as one of the most important works published on this thinker in recent decades.
[more]
Socialism after Hayek
Theodore A. Burczak
University of Michigan Press, 2009
Socialism after Hayek recasts and reinvigorates the socialist quest for class justice by rendering it compatible with Hayek's social and economic theories. Theodore A. Burczak puts forth a conception of socialism from a postmodern perspective, drawing from the apparently opposing ideas of Marx and Hayek (the latter of whom achieved worldwide recognition in the twentieth century as a champion of the free market and fierce opponent of government interference in markets). Burczak sketches an institutional structure that would promote a democratic socialist notion of distributive justice and his own interpretation of Marx's notion of freely associated labor, while avoiding Hayek's criticisms of centrally planned socialism.
Burczak's version of market socialism is one in which privately owned firms are run democratically by workers, governments engage in ongoing redistribution of wealth to support human development, and markets are otherwise unregulated. Burczak poses this model of "free market socialism" against other models of socialism, especially those developed by John Roemer, Michael Albert, and Robin Hahnel.
"Burczakian socialism = (Hayek + Nussbaum + Sen + Ackerman + Resnick and Wolff) = Ellerman = legal-economic democracy. Brilliant! Burczak takes Hayek, his critics, and other social theorists and produces the foundations of a legal-economic order in which the concerns of most current thinkers are provided for. It is a deep, sustained, and brilliant achievement."
—Warren J. Samuels, Professor Emeritus, Economics Department, Michigan State University; former President of the History of Economics Society and the Association for Social Economics; coeditor of the Journal of Income Distribution; and author of over 40 books
"Theodore A. Burczak's Socialism after Hayek is a thoroughly researched and thoughtful examination not only of the ideological debate that framed the twentieth century, but of Hayek's intellectual framework. Burczak hopes for an economic framework that is both humanistic in its approach and humanitarian in its concern while being grounded in good reasons. The book should be on the reading list of every comparative political economist and in particular anyone who wants to take Hayek seriously, including those who would like to push Hayek's classical liberal politics toward the left in the twenty-first century. Burczak has made an outstanding contribution to the fields of political and economic thought and to Hayek studies in particular."
—Peter J. Boettke, Professor and Director of Graduate Studies, Department of Economics, George Mason University, Fairfax
"An advance well beyond the great 'socialist calculation debate.' Socialism after Hayek is both novel and challenging to contemporary Hayekian scholars. Burczak is the only scholar working in the post-Marxist tradition that thoroughly understands and appreciates the Hayekian critique of socialism. He is on his way to answering many of our long-held objections."
—Dave Prychitko, Department of Economics, Northern Michigan University
"One does not have to agree with all of Burczak's arguments to accept that he has developed a bold, creative and challenging response to the powerful Hayekian critique of socialism. Burczak wisely rejects the agoraphobia—literally the fear of markets—of many socialists, and focuses instead on the socialist goal of the abolition of exploitation. If this important book is read by both socialists and Hayekians, then there is a chance that debates on the viability of socialism may avoid some past pitfalls."
Burczak's version of market socialism is one in which privately owned firms are run democratically by workers, governments engage in ongoing redistribution of wealth to support human development, and markets are otherwise unregulated. Burczak poses this model of "free market socialism" against other models of socialism, especially those developed by John Roemer, Michael Albert, and Robin Hahnel.
"Burczakian socialism = (Hayek + Nussbaum + Sen + Ackerman + Resnick and Wolff) = Ellerman = legal-economic democracy. Brilliant! Burczak takes Hayek, his critics, and other social theorists and produces the foundations of a legal-economic order in which the concerns of most current thinkers are provided for. It is a deep, sustained, and brilliant achievement."
—Warren J. Samuels, Professor Emeritus, Economics Department, Michigan State University; former President of the History of Economics Society and the Association for Social Economics; coeditor of the Journal of Income Distribution; and author of over 40 books
"Theodore A. Burczak's Socialism after Hayek is a thoroughly researched and thoughtful examination not only of the ideological debate that framed the twentieth century, but of Hayek's intellectual framework. Burczak hopes for an economic framework that is both humanistic in its approach and humanitarian in its concern while being grounded in good reasons. The book should be on the reading list of every comparative political economist and in particular anyone who wants to take Hayek seriously, including those who would like to push Hayek's classical liberal politics toward the left in the twenty-first century. Burczak has made an outstanding contribution to the fields of political and economic thought and to Hayek studies in particular."
—Peter J. Boettke, Professor and Director of Graduate Studies, Department of Economics, George Mason University, Fairfax
"An advance well beyond the great 'socialist calculation debate.' Socialism after Hayek is both novel and challenging to contemporary Hayekian scholars. Burczak is the only scholar working in the post-Marxist tradition that thoroughly understands and appreciates the Hayekian critique of socialism. He is on his way to answering many of our long-held objections."
—Dave Prychitko, Department of Economics, Northern Michigan University
"One does not have to agree with all of Burczak's arguments to accept that he has developed a bold, creative and challenging response to the powerful Hayekian critique of socialism. Burczak wisely rejects the agoraphobia—literally the fear of markets—of many socialists, and focuses instead on the socialist goal of the abolition of exploitation. If this important book is read by both socialists and Hayekians, then there is a chance that debates on the viability of socialism may avoid some past pitfalls."
—Geoffrey M. Hodgson, University of Hertfordshire, UK
"Provocative and expansive. An excellent book that deals in depth with the relevant literature, incorporating it into a new analysis of the question of socialism. . . . The scholarship is superior: Burczak integrates the works of Hayek and Marx to develop a new theory of justice and to provide a new way to think through the problems of a socialist economy."
—Stephen Cullenberg, Department of Economics, University of California, Riverside
"A brilliant, fair-minded approach to Marx, Hayek, Sen, and Nussbaum yields a needed socialist vision for the twenty-first century."
—Stephen Resnick, Department of Economics, University of Massachusetts
Theodore A. Burczak is Associate Professor of Economics at Denison University.
"Provocative and expansive. An excellent book that deals in depth with the relevant literature, incorporating it into a new analysis of the question of socialism. . . . The scholarship is superior: Burczak integrates the works of Hayek and Marx to develop a new theory of justice and to provide a new way to think through the problems of a socialist economy."
—Stephen Cullenberg, Department of Economics, University of California, Riverside
"A brilliant, fair-minded approach to Marx, Hayek, Sen, and Nussbaum yields a needed socialist vision for the twenty-first century."
—Stephen Resnick, Department of Economics, University of Massachusetts
Theodore A. Burczak is Associate Professor of Economics at Denison University.
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