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undermined by political influences. F. A. Hayek, Milton Friedman, and James Buchanan each sought ways to improve the performance … restructuring of our monetary system was necessary. Friedman turned to binding rules, Buchanan to constitutionalism, and Hayek to …
Persistent link: https://www.econbiz.de/10012976265
The financial crisis of 2008 has challenged the reputation of the free-market economy in the public imagination in a way that it has not been challenged since the Great Depression. The intellectual consensus after World War II was that markets are unstable and exploitive and thus in need of...
Persistent link: https://www.econbiz.de/10013136759
Persistent link: https://www.econbiz.de/10013115350
The systematic study of political economy begins with the recognition of two seemingly contradictory observations about commercial life. The first observation is that individuals pursue their self-interest and do so as effectively as they are capable of doing. The second observation is that...
Persistent link: https://www.econbiz.de/10013015120
reemphasized by F.A. Hayek, who in turn influenced the early pioneers of law and economics, particularly Aaron Director, Ronald …
Persistent link: https://www.econbiz.de/10012910909
Hayek's The Road to Serfdom is often read as a policy book and a political tract for its time. It is also often read as … read and used as a political tract for its time, Hayek's book is part of a broader project dealing with the institutional …
Persistent link: https://www.econbiz.de/10012937665
This paper serves as the Introduction to the symposium celebrating the 40th anniversary of F.A. Hayek's Nobel Memorial … explore the relevance of Hayek's research program for the past and future of the economics discipline …
Persistent link: https://www.econbiz.de/10013009771
reconstruction of public choice theory building on the work of Buchanan, F.A. Hayek and Vincent Ostrom must take place. Absent such a …
Persistent link: https://www.econbiz.de/10013010723
Mises and Hayek in the 1920s and 1940s thought of their work as within the orthodoxy of economic science. But after … WWII it became increasingly obvious that the contributions of Mises and Hayek were out of step with the way the economics … bolstered by the awarding of the Nobel Prize in Economic Science to FA Hayek, a resurgence of interest in Austrian economics by …
Persistent link: https://www.econbiz.de/10013010731
My contention is that political economy as a value-relevant discipline has a legitimate claim on our intellectual attention only to the degree that it is grounded in the value-neutral logic of economic analysis — an analysis that while it cannot determine ultimate values may nevertheless...
Persistent link: https://www.econbiz.de/10013010739