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Friedrich A. Hayek is regarded as one of the preeminent economic theorists of the twentieth century, as much for his work outside of economics as for his work within it. During a career spanning several decades, he made contributions in fields as diverse as psychology, political philosophy, the history of ideas, and the methodology of the social sciences. Bruce Caldwell—editor of The Collected Works of F. A. Hayek—understands Hayek's thought like few others, and with this book he offers us the first full intellectual biography of this pivotal social theorist. Caldwell begins by providing the necessary background for understanding Hayek's thought, tracing the emergence, in fin-de-siècle ...
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A 2022 Economist Best Book of the Year. The definitive account of the distinguished economist’s formative years. Few twentieth-century figures have been lionized and vilified in such equal measure as Friedrich Hayek—economist, social theorist, leader of the Austrian school of economics, and champion of classical liberalism. Hayek’s erudite arguments in support of individualism and the market economy have attracted a devout following, including many at the levers of power in business and government. Critics, meanwhile, cast Hayek as the intellectual forefather of “neoliberalism” and of all the evils they associate with that pernicious doctrine. In Hayek: A Life, historians of econom...
Since its publication in 1982, Beyond Positivism has become established as one of the definitive statements on economic methodology. The book's rejection of positivism and its advocacy of pluralism were to have a profound influence in the flowering of work methodology that has taken place in economics in the decade since its publication. This edition contains a new preface outlining the major developments in the area since the book's first appearance. The book provides the first comprehensive treatment of twentieth century philosophy of science which emphasizes the issues relevant to economics. It proceeds to demonstrate this relevance by reviewing some of the key debates in the area. Having concluded that positivism has to be rejected, the author examines possible alternative bases for economic methodology. Arguing that there is no best method, he advocates methodological pluralism.
Since its publication in 1982, Beyond Positivism has become established as one of the definitive statements on economic methodology. The book‘s rejection of positivism and its advocacy of pluralism were to have a profound influence in the flowering of work methodology that has taken place in economics in the decade since its publication. This editi
This volume draws on Hayek's shorter articles for weeklies, and his reviews, as well as academic papers and articles. It also includes a substantial introduction, providing full background and outlining the significance of this period for Hayek's intellectual development. The material is divided into three sections: *Hayek's contributions to the famous market socialism debate *Hayek's responses to the onset of war, including his response to Keynes' How to Pay for the War *his papers on the relationship between economic planning and freedom
Marking the 75th anniversary of the first meeting of the Mont Pèlerin Society, in 1947, this volume presents for the first time the original transcripts from this landmark event. The society was created by Friedrich Hayek as a forum for leading economists and intellectuals to discuss and debate classical liberal values in the face of a rapidly changing world and political trends toward socialism. Bruce Caldwell, a major scholar of Hayek, provides an informative introduction and explanatory notes to the source documents, drawn from the Hoover Institution Library & Archives, where they have been available to scholars. Now accessible to all, the transcripts reveal what was said on a wide range of topics, including free markets, monetary reform, wage policy, taxation, agricultural policy, the future of Germany, Christianity and liberalism, and more. They provide insights into the thinking of men such as Hayek, Milton Friedman, Aaron Director, Frank Knight, Walter Eucken, Karl Popper, and other leading figures in the classical liberalism movement, illuminating not only their ideas but also their distinctive personalities. A photo section shows rarely seen images from the meeting.
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"The studies of which this book is the result have from the beginning been guided by and in the end confirmed the somewhat old-fashioned conviction of the author that it is human ideas which govern the development of human affairs," Hayek wrote in his notes in 1940. Indeed, Studies on the Abuse and Decline of Reason remains Hayek’s greatest unfinished work and is here presented for the first time under the expert editorship of Bruce Caldwell. In the book, Hayek argues that the abuse and decline of reason was caused by hubris, by man’s pride in his ability to reason, which in Hayek’s mind had been heightened by the rapid advance and multitudinous successes of the natural sciences, and the attempt to apply natural science methods in the social sciences.
A mere two decades ago it was widely assumed that liberal democracy and the Open Society it created had decisively won their century-long struggle against authoritarianism. Although subsequent events have shocked many, F.A. Hayek would not have been surprised that we are in many ways disoriented by the society we have created. As he understood it, the Open Society was a precarious achievement in many ways at odds with our deepest moral sentiments. His path-breaking analyses argued that the Open Society runs against our evolved attraction to "tribalism" that the Open Society is too complex for moral justification; and that its self-organized complexity defies attempts at democratic governance...