Using Adam Smith's notion of an 'invisible hand', this extraordinary contribution identifies dogmatic versus pragmatic views of free markets. Published posthumously, with new contributions by Rod O'Donnell, Daniel B. Klein and Christopher Torr, this book outlines Mittermaier's main thesis and...

This book considers the relationship between Hayek and Mill, taking issues with Hayek's criticism of Mill and providing a broader perspective of the liberal tradition. Featuring contributions from the likes of Ross Emmett, Leon Montes and Robert Garnett, these chapters ask whether Hayek had an...

Die Diskussion um Karl Marx ist lange Zeit nur ideologisch positionell geführt worden. Wer sich nicht als Gegner oder Befürworter der Marxschen Lehre erklärte, hatte es schwer, in dieser Diskussion Gehör zu finden. Im letzten Viertel des vorigen Jahrhunderts hat jedoch sowohl in...

In this paper the view of humankind and nature upon which the thinking of Malthus is founded will be reflected on and contrasted with the opposed understanding of his contemporary Wordsworth. We show that the economic considerations of both are based decidedly on the premise of these views, and...

Ákos Navratil (1875-1952) is an outstanding theoretical economist from the first half of the 20th century. A selection of his works was published as volume 8 in the series Classics in Hungarian Economics (Old truths and new theories in economics by Ákos Navratil, (int., ed. by M. Hild)). The...

A number of studies have been conducted in the recent past throwing light on Kautilya's contribution to economic policy much earlier than contributions from western scholars. In his treatise Arthashastra, Kautilya informs that his contribution was based on received knowledge and gives credit to...

Central banks in developing countries, wanting to devalue the domestic currency, usually intervene in the foreign exchange market by buying up foreign currency using domestic money-often backing this up with sterilization to counter inflationary pressures. Such interventions are usually...