It is generally accepted that F.A. Hayek gave up the business cycle as an object of theoretical investigation following the publication of 1941's The Pure Theory of Capital. The present paper aims to cast a shade of doubt upon this received view. Many of Hayek's philosophical writings bear...

Friedrich Hayek has been one of the dominating intellectual figures of the 20th century. Hayek, together with Gunnar Myrdal, received the 1974 Nobel Memorial Prize in economics, for "their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the...

The paper analyses the evolvement and effects of central bank crisis management since the mid 1980s based on a Hayek-Mises-Wicksell overinvestment framework. It is shown that, given that the traditional transmission mechanism between monetary policy and consumer price inflation has collapsed,...

The 100%-Money Plan advocated by Fisher (1936) has a Misesian flavor as it aims at mitigating intertemporal discoordination by reducing (i) the discrepancy between investment and voluntary savings, and (ii) the manipulation of interest rates by monetary injections. Recent proposals to adopt the...

This paper is a thoroughly revised and extended version of an article firstly published in the anthology "Moderne Wirtschaftsgeschichte" (München: Oldenbourg) in 1996. This book is an introduction to modern economic history for historians and economists. Accordingly this paper has to two...

This article discusses the development of 'heterodox' economics at universities in Germany since the 1970s. Based on Lakatos' concept of scientific research programmes (SRP), the article introduces a classification of economics in order to clarify the understanding of variety within economics,...