Capital and Interest
F. A. Hayek University of Chicago Press, 2015 Library of Congress HB171.H4266 2015 | Dewey Decimal 332.041
Produced throughout the first fifteen years of Hayek’s career, the writings collected in Capital and Interest see Hayek elaborate upon and extend his landmark lectures that were published as Prices and Production and work toward the technically sophisticated line of thought seen in his later Pure Theory of Capital. Illuminating the development of Hayek’s detailed contributions to capital and interest theory, the collection also sheds light on how Hayek’s work related to other influential economists of the time. Highlights include the 1936 article “The Mythology of Capital”—presented here alongside Frank Knight’s criticisms of the Austrian theory of capital that prompted it—and “The Maintenance of Capital,” with subsequent comments by the English economist A. C. Pigou. These and other familiar works are accompanied by lesser-known articles and lectures, including a lecture on technological progress and excess capacity. An introduction by the book’s editor, leading Hayek scholar Lawrence H. White, places Hayek’s contributions in careful historical context, with ample footnotes and citations for further reading, making this a touchstone addition to the University of Chicago Press’s Collected Works of F. A. Hayek series.
Although serious scandal erupted in Illinois Governor Richard Ogilvie’ s administration— eight hundred thousand dollars mysteriously appearing in Secretary of State Paul Powell’ s shoe boxes and other hiding places, the downfall of two Supreme Court justices for questionable stock dealings, corruption surrounding the Illinois State Fair— Ogilvie’ s accomplishments, as Taylor Pensoneau demonstrates, rank him among the best governors in Illinois history.
Perhaps the most important of Ogilvie’ s accomplishments during his single term in office (1969– 1973) was the passage of the state’ s first income tax in 1969. Supporting the income tax took political courage on the part of the new governor, but in doing so he saved the financially crippled state from economic disaster. He also looked far into the future; at a time when few politicians expressed concern with the environment, Ogilvie created an exemplary and hard-hitting antipollution program. He was in office during the Illinois Constitutional Convention in 1970 and was instrumental in the widespread restructuring of Illinois government.
Viewing Ogilvie as a pivotal figure in Illinois politics during a time of great social and political turmoil, Pensoneau provides a complete political biography. He sheds light on Ogilvie’ s military heroics, his political career, and the Illinois elections of 1968, 1970, and 1972.
Originally published in 1887, The Pioneer Preacher is a lively account of a Congregationalist
minister's attempts to lead a sin-free existence on the American frontier.
Sherlock Bristol (1815-1906)
was a California gold miner, wagon train captain, Wisconsin farmer, Idaho
rancher, Indian fighter, abolitionist, and Oberlin-trained clergyman.
While serving a series of churches in the East, he periodically cured
himself of "nervous disorders" by journeying out West. He only
broke the Sabbath once---during an Indian attack!
Reflecting in his memoirs
the exploits of Daniel Boone and Davy Crockett, Bristol delights in recounting
his adventures, ecclesiastical or otherwise. He vividly recalls his redemption
in the wilderness where he enjoyed having "little opportunity for
reading books or mental exercise, and an abundance of calls for muscular
employment." Greatly influenced by the evangelist Charles G. Finney
at Oberlin, Bristol tried to teach miners and frontiersmen the principles
of revivalism, postmillennialism, and perfectionism. In The Pioneer Preacher he shares his own disputatious views on abolition, American
Indians, temperance, and other issues of his day.
Economic individualism and market-based values dominate today's policymaking and public management circles—often at the expense of the common good. In his new book, Barry Bozeman demonstrates the continuing need for public interest theory in government. Public Values and Public Interest offers a direct theoretical challenge to the "utility of economic individualism," the prevailing political theory in the western world.
The book's arguments are steeped in a practical and practicable theory that advances public interest as a viable and important measure in any analysis of policy or public administration. According to Bozeman, public interest theory offers a dynamic and flexible approach that easily adapts to changing situations and balances today's market-driven attitudes with the concepts of common good advocated by Aristotle, Saint Thomas Aquinas, John Locke, and John Dewey.
In constructing the case for adopting a new governmental paradigm based on what he terms "managing publicness," Bozeman demonstrates why economic indices alone fail to adequately value social choice in many cases. He explores the implications of privatization of a wide array of governmental services—among them Social Security, defense, prisons, and water supplies. Bozeman constructs analyses from both perspectives in an extended study of genetically modified crops to compare the policy outcomes using different core values and questions the public value of engaging in the practice solely for the sake of cheaper food.
Thoughtful, challenging, and timely, Public Values and Public Interest shows how the quest for fairness can once again play a full part in public policy debates and public administration.
The Pure Theory of Capital
F. A. Hayek University of Chicago Press, 2007 Library of Congress HB501.H392 2007 | Dewey Decimal 332.041
The Pure Theory of Capital, F. A. Hayek’s long-overlooked, little-understood volume, was his most detailed work in economic theory. Originally published in 1941 when fashionable economic thought had shifted to John Maynard Keynes, Hayek’s manifesto of capital theory is now available again for today’s students and economists to discover.
With a new introduction by Hayek expert Lawrence H. White, who firmly situates the book not only in historical and theoretical context but within Hayek’s own life and his struggle to complete the manuscript, this edition commemorates the celebrated scholar’s last major work in economics. Offering a detailed account of the equilibrium relationships between inputs and outputs in an economy, Hayek’s stated objective was to make capital theory—which had previously been devoted almost entirely to the explanation of interest rates—“useful for the analysis of the monetary phenomena of the real world.” His ambitious goal was nothing less than to develop a capital theory that could be fully integrated into the business cycle theory.
In Tangled Loyalties, Susan P. Shapiro charts a journey across the state of Illinois. To explore the role of conflict-of-interest in the private practice of law she looks at a wide variety of law firms, including those located near lakes, rivers, and corn fields; in strip malls, storefronts, and historic landmarks; in town squares, residential neighborhoods, deteriorating downtown areas, and glittering high rises.
This unique, empirical study examines the actual attitudes and perceptions of legal practitioners. The author discusses the realities of the profession--what lawyers face day to day, how they deal with conflicts of interest, and how those experiences vary from LaSalle Street to Wall Street to Main Street, from megafirms to solo practices. In describing how conflicts arise in their daily work, Shapiro sheds light on the nature of legal work--on clients, colleagues, law firm power and politics, economics, markets, malpractice insurance, careers, ethics, values, business judgments, and lawyers' most anguishing moments. In short, we learn what it means to be a lawyer at the end of the twentieth century.
Tangled Loyalties also looks at how these conflicts in law affect other fiduciaries--accountants, doctors, psychotherapists, journalists, and academics--and the way in which they respond to competing interests and the honoring of those interests.
Tangled Loyalties will appeal to readers interested in the legal and other professions, social institutions and relations, and issues of trust, ethics, social control and regulation.
Susan P. Shapiro is Senior Research Fellow, American Bar Foundation.