The central contribution to economic science by Friedrich Hayek, co-winner of the 1974 Nobel in economics, is his theoretical understanding of how prices coordinate human decision-making by condensing and communicating the vast knowledge disseminated throughout society (Hayek 1945). Hayek's...

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 profession was evolving. But starting in 1974, due to the...

Hayek's early writings on business-cycle theory and the Great Depression argued that cyclical downturns, including that of 1929-1931 were caused by unsustainable elongations of the capital structure caused by bank-financed investment exceeding voluntary saving. Believing that monetary expansion...

This essay examines the relationship between Austrian economics and economic history. It notes their different origins as scholarly fields, and divergent trajectories over the course of the twentieth century, before discussing recent examples of cross-fertilization and pointing to areas of...

In this article I selectively survey the economic history literature on the rise of regulation in America during the Progressive Era with the goal of identifying how this literature is informed by Austrian economic theory, and how Austrian theory might contribute to our understanding of the...

This article examines the role of ideas, tradition, and economic history in the context of F. A. Hayek's theory of social knowledge. While Hayek often emphasized the beneficial consequences of unintended and spontaneous action, his accounts of the transmission of ideas within society identified...

Die Begriffe Wohlfahrt und Wohlstand werden in ihrem dogmenhistorischen Entstehungskontext untersucht. Dabei wird zum einen der Schwerpunkt auf die von den Physiokraten, aber auch von John Stuart Mill, W. Stanley Jevons und sogar von deutschen Ordoliberalen thematisierten Wachstumsgrenzen gelegt...