On the basis of theoretical considerations and on the evidence of real-world economies, Frank Hahn demonstrates in unequivocal terms that Monetarism offers an implausible solution to the most pervasive economic problems. He confronts the central issue of current economic theory by making the...

Roy Radner has been elected a Distinguished Fellow of the American Economic Association. To illustrate the Radner style, I have chosen the example of his turnpike theorem, even though this is not quite illustrative of his central concerns. I shall follow this with a brief survey of his...

That a society of greedy and selfseeking people constrained only by the criminal law and the law of the property and contact should be capable of an orderly and coherent disposition of its economic resources is very surprising. Marx called such a society anarchic and so it is. Yet ever since...