F. A. Hayek published The Road to Serfdom in 1944, so 2019 marks the 75th anniversary of the event. The paper traces how Hayek came to write the book, who his opponents were, and how the book got interpreted by both friends and critics after its publication. Because the book is more typically...

Samuelson and Solow in their 1960 paper in the American Economic Review: Papers and Proceedings were among the first economists to engage with Phillips' famous unemployment/wage-inflation analysis, now referred to as the Phillips curve. They addressed the question of the relevance of Phillips's...

The name of Margaret Garritsen de Vries may not be the first that pops into people’s mind when thinking about the International Monetary Fund. It is through her work, as long-standing official Fund Historian, that those interested in the Fund history will travel through. An operational...

This working paper - like its companion, Caldwell and Klausinger 2021 - grew out of the authors' joint work on Hayek: A Life, 1899-1950 (Caldwell and Klausinger 2022) and it contains material supplementing it. This paper draws to a large extent on Friedrich Hayek's own investigations into the...

This working paper - like its companion, Caldwell and Klausinger 2021 - grew out of the authors' joint work on Hayek: A Life 1899-1950 (Caldwell and Klausinger 2022) and it contains material supplementing it. This paper examines the intellectual circles of fin-desiécle Vienna in which the Hayek...

Around 50 years ago, Edmund Phelps and Robert Lucas proposed an answer to the question why changes in aggregate nominal spending bring about output and employment effects, instead of purely proportional variations in prices. The Phelps-Lucas monetary misperception hypothesis asserted that...

This article--designed to give readers unfamiliar with public choice a historical overview and flavor for the kinds of problems considered--is divided into three main sections, "historical origins," the "modern founders of MPE," and a brief description of some "current issues" studied by public...

Austrian economist Ludwig Mises’s central role in the socialist calculation debates has been consensually acknowledged since the early 1920s. Yet, only recently, Nemeth, O’Neill, Uebel, and others have drawn particular attention to Mises’s pertinent encounter with one of the most colorful...

The paper offers a view of Geoff Harcourt’s – b. 1931 in Melbourne; d. 2021 in Sydney – life trajectory as an Australian economist educated and active in the Cambridge UK tradition. His main contributions – to the Cambridge capital debates, history of economic thought and post-Keynesian...

One of the more striking features of the debate over the Coase theorem is the wide variety of models and theoretical frameworks used to discuss, evaluate, or otherwise analyze Coase’s result - an artifact of an ambiguity in Coase’s reasoning. Some framed Coase’s result in a bargaining...