Keynes And Hayek

Author : Nicholas Wapshott
Publisher : W. W. Norton & Company
Page : 400 pages
File Size : 40,5 Mb
Release : 2011-10-11
Category : Business & Economics
ISBN : 9780393083118

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Keynes Hayek: The Clash that Defined Modern Economics by Nicholas Wapshott Pdf

“I defy anybody—Keynesian, Hayekian, or uncommitted—to read [Wapshott’s] work and not learn something new.”—John Cassidy, The New Yorker As the stock market crash of 1929 plunged the world into turmoil, two men emerged with competing claims on how to restore balance to economies gone awry. John Maynard Keynes, the mercurial Cambridge economist, believed that government had a duty to spend when others would not. He met his opposite in a little-known Austrian economics professor, Freidrich Hayek, who considered attempts to intervene both pointless and potentially dangerous. The battle lines thus drawn, Keynesian economics would dominate for decades and coincide with an era of unprecedented prosperity, but conservative economists and political leaders would eventually embrace and execute Hayek's contrary vision. From their first face-to-face encounter to the heated arguments between their ardent disciples, Nicholas Wapshott here unearths the contemporary relevance of Keynes and Hayek, as present-day arguments over the virtues of the free market and government intervention rage with the same ferocity as they did in the 1930s.

Author : Thomas Hoerber
Publisher : Reaktion Books
Page : 192 pages
File Size : 52,5 Mb
Release : 2017-06-15
Category : Business & Economics
ISBN : 9781780237787

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Hayek vs Keynes by Thomas Hoerber Pdf

Few thinkers better encapsulate the two polarities of economic and social thought in the twenty-first century than Friedrich Hayek and John Maynard Keynes. Wrestling with the horrors of world wars, the atrocities of fascist regimes, the hungers of the Great Depression, and the turbulence of political ideologies as they grew evermore pitted against one another, both sought a cure for modernity’s terrible problems and a safeguard against future catastrophes—a task that would leave them with completely different conclusions. In this book, Thomas Hörber offers a clear historical account of the work of these two great figures of modern economic thought. Hoerber looks at the two central works that would alter the course of economic thought: Keynes’s The General Theory of Employment, Interest, and Money and Hayek’s The Road to Serfdom. Placing them within the context of the devastation that followed World War I, he explains how the historical conditions in which these books were written help us better understand how their lessons can illuminate the economic and political phenomena of our own era, such as the recent financial crisis, globalization, and European integration. He shows how Keynes’s emphasis on government regulation through monetary and fiscal policy and Hayek’s great cautions against the tyrannies that can so easily arise from central planning have led to competing schools of economic thought. Making accessible classic economic theory and employing a qualitative method of economics, he offers an articulated account of how history has led to our current economic environment. With a broad perspective and incisive but clear examinations of important economic theories, this book places the two great economists of the twentieth-century within their historical context, illuminating how much we have learned—and can still learn—from them both.

Author : G R Steele
Publisher : Routledge
Page : 369 pages
File Size : 41,6 Mb
Release : 2002-11-01
Category : Business & Economics
ISBN : 9781134529933

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Keynes and Hayek by G R Steele Pdf

John Maynard Keynes and Friedrich Hayek had serious differences of opinion when it came to assessing the fractured inter-war world. G. R. Steele picks apart this debate and argues persuasively that Hayek's outlook will prove to be the more enduring.

Author : Tyler Beck Goodspeed
Publisher : Oxford University Press
Page : 216 pages
File Size : 45,5 Mb
Release : 2012-06-04
Category : Business & Economics
ISBN : 9780199942794

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Rethinking the Keynesian Revolution by Tyler Beck Goodspeed Pdf

While standard accounts of the 1930s debates surrounding economic thought pit John Maynard Keynes against Friedrich von Hayek in a clash of ideology, this reflexive dichotomy is in many respects superficial. It is the argument of this book that both Keynes and Hayek developed their respective theories of the business cycle within the tradition of Swedish economist Knut Wicksell, and that this shared genealogy manifested itself in significant theoretical affinities between the two supposed antagonists. The salient features of Wicksell's work, namely the importance of money, the role of uncertainty, coordination failures, and the element of time in capital accumulation, all motivated the Keynesian and Hayekian theories of economic fluctuations. They also contributed to a fundamental convergence between the two economists during the 1930s. This shared, "Wicksellian" vision of economic problems points to a very different research agenda from that of the Walrasian-style, general equilibrium analysis that has dominated postwar macroeconomics. This book will appeal to economists interested in historical perspective of their discipline, as well as historians of economic thought. The author not only deconstructs some of the historical misconceptions of the Keynes versus Hayek debate, but also suggests how the insights uncovered can inform and instruct modern theory. While much of the analysis is technical, it does not assume previous knowledge of 1930s economic theory, and should be accessible to academics and graduate students with general economics training.

Author : F.A. Hayek
Publisher : Routledge
Page : 288 pages
File Size : 44,5 Mb
Release : 2013-10-31
Category : Business & Economics
ISBN : 9781317950011

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Contra Keynes and Cambridge by F.A. Hayek Pdf

First published in 1995. Routledge is an imprint of Taylor & Francis, an informa company.

Author : G R Steele
Publisher : Routledge
Page : 237 pages
File Size : 51,9 Mb
Release : 2002-11-01
Category : Business & Economics
ISBN : 9781134529940

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Keynes and Hayek by G R Steele Pdf

John Maynard Keynes and Friedrich Hayek had serious differences of opinion when it came to assessing the fractured inter-war world. G. R. Steele picks apart this debate and argues persuasively that Hayek's outlook will prove to be the more enduring.

Author : Peter J. Boettke
Publisher : Springer
Page : 323 pages
File Size : 48,9 Mb
Release : 2018-09-05
Category : Business & Economics
ISBN : 9781137411600

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F. A. Hayek by Peter J. Boettke Pdf

This book explores the life and work of Austrian-British economist, political economist, and social philosopher, Friedrich Hayek. Set within a context of the recent financial crisis, alongside the renewed interest in Hayek and the Hayek-Keynes debate, the book introduces the main themes of Hayek’s thought. These include the division of knowledge, the importance of rules, the problems with planning and economic management, and the role of constitutional constraints in enabling the emergence of unplanned order in the market by limiting the perverse incentives and distortions in information often associated with political discretion. Key to understanding Hayek's development as a thinker is his emphasis on the knowledge problem that economic decision makers face and how alternative institutional arrangements either hinder or assist them in overcoming that epistemic dilemma. Hayek saw order emerging from individual action and responsibility under the appropriate institutional order that itself emerges from actors discovering new and better ways to coordinate their behavior. This book will be of interest to all those keen to gain a deeper understanding of this great 20th century thinker in economics.

Author : John Maynard Keynes
Publisher : Springer
Page : 404 pages
File Size : 43,6 Mb
Release : 2018-07-20
Category : Business & Economics
ISBN : 9783319703442

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The General Theory of Employment, Interest, and Money by John Maynard Keynes Pdf

This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the Nobel-prize winner Paul Krugman and a new Afterword by Keynes’ biographer Robert Skidelsky, this important work is made available to a new generation. The General Theory of Employment, Interest and Money transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned. Highly provocative at its time of publication, this book and Keynes’ theories continue to remain the subject of much support and praise, criticism and debate. Economists at any stage in their career will enjoy revisiting this treatise and observing the relevance of Keynes’ work in today’s contemporary climate.

Author : Friedrich A. Hayek
Publisher : Unknown
Page : 0 pages
File Size : 54,5 Mb
Release : 2023
Category : Electronic
ISBN : OCLC:1398445879

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The Road to Serfdom by Friedrich A. Hayek Pdf

In The Road to Serfdom F. A. Hayek set out the danger posed to freedom by attempts to apply the principles of wartime economic and social planning to the problems of peacetime. Hayek argued that the rise of Nazism was not due to any character failure on the part of the German people, but was a consequence of the socialist ideas that had gained common currency in Germany in the decades preceding the outbreak of war. Such ideas, Hayek argued, were now becoming similarly accepted in Britain and the USA.On its publication in 1944, The Road to Serfdom caused a sensation. Its publishers could not keep up with demand, owing to wartime paper rationing. Then, in April 1945, Reader's Digest published a condensed version of the book and Hayek's work found a mass audience. This condensed edition was republished for the first time by the IEA in 1999. Since then it has been frequently reprinted and the electronic version has been downloaded over 100,000 times. There is an enduring demand for Hayek's relevant and accessible message.The Road to Serfdom is republished in this impression with The Intellectuals and Socialism originally published in 1949, in which Hayek explained the appeal of socialist ideas to intellectuals - the 'second-hand dealers in ideas'. Intellectuals, Hayek argued, are attracted to socialism because it involves the rational application of the intellect to the organisation of society, while its utopianism captures their imagination and satisfies their desire to make the world submit to their own design.

Author : Nicholas Wapshott
Publisher : W. W. Norton & Company
Page : 317 pages
File Size : 46,5 Mb
Release : 2021-08-03
Category : Business & Economics
ISBN : 9780393285192

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Samuelson Friedman: The Battle Over the Free Market by Nicholas Wapshott Pdf

A Financial Times Best Economics Book of 2021 From the author of Keynes Hayek, the next great duel in the history of economics. In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes’s General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles. Samuelson, a forbidding technical genius, grew up a child of relative privilege and went on to revolutionize macroeconomics. He wrote the best-selling economics textbook of all time, famously remarking "I don’t care who writes a nation’s laws—or crafts its advanced treatises—if I can write its economics textbooks." His friend and adversary for decades, Milton Friedman, studied the Great Depression and with Anna Schwartz wrote the seminal books The Great Contraction and A Monetary History of the United States. Like Friedrich Hayek before him, Friedman found fortune writing a treatise, Capitalism and Freedom, that yoked free markets and libertarian politics in a potent argument that remains a lodestar for economic conservatives today. In Wapshott’s nimble hands, Samuelson and Friedman’s decades-long argument over how—or whether—to manage the economy becomes a window onto one of the longest periods of economic turmoil in the United States. As the soaring economy of the 1950s gave way to decades stalked by declining prosperity and "stagflation," it was a time when the theory and practice of economics became the preoccupation of politicians and the focus of national debate. It is an argument that continues today.

Author : Friedrich August Hayek
Publisher : Unknown
Page : 162 pages
File Size : 55,6 Mb
Release : 1949
Category : Currency question
ISBN : OCLC:1010857274

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Prices and Production by Friedrich August Hayek Pdf

Author : Bruce Caldwell,Hansjoerg Klausinger
Publisher : University of Chicago Press
Page : 869 pages
File Size : 43,6 Mb
Release : 2022-11-25
Category : Biography & Autobiography
ISBN : 9780226816821

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Hayek by Bruce Caldwell,Hansjoerg Klausinger Pdf

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 economics Bruce Caldwell and Hansjörg Klausinger draw on never-before-seen archival and family material to produce an authoritative account of the influential economist’s first five decades. This includes portrayals of his early career in Vienna; his relationships in London and Cambridge; his family disputes; and definitive accounts of the creation of The Road to Serfdom and of the founding meeting of the Mont Pèlerin Society. A landmark work of history and biography, Hayek: A Life is a major contribution both to our cultural accounting of a towering figure and to intellectual history itself.

Author : Friedrich August Hayek
Publisher : Ludwig von Mises Institute
Page : 194 pages
File Size : 52,8 Mb
Release : 1971
Category : Keynesian economics
ISBN : 9781610163194

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Tiger by the Tail, A by Friedrich August Hayek Pdf

Author : Lawrence H. White
Publisher : Cambridge University Press
Page : 439 pages
File Size : 55,8 Mb
Release : 2012-04-16
Category : Business & Economics
ISBN : 9781107012424

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The Clash of Economic Ideas by Lawrence H. White Pdf

This book places economic debates in their historical context and outlines how economic ideas have influenced swings in policy.

Author : F. A. Hayek
Publisher : University of Chicago Press
Page : 323 pages
File Size : 49,9 Mb
Release : 2018-12-22
Category : Business & Economics
ISBN : 9780226321288

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New Studies in Philosophy, Politics, Economics and the History of Ideas by F. A. Hayek Pdf

From a Nobel Laureate economist, a collection of essays outlining ideas on political theory, economic freedom and epistemology. Following on F. A. Hayek’s previous work Studies in Philosophy, Politics, and Economics (1967), New Studies in Philosophy, Politics, Economics and the History of Ideas collects some of Hayek’s most notable essays and lectures dealing with problems of philosophy, politics and economics, with many of the essays falling into more than one of these categories. Expanding upon the previous volume the present work also includes a fourth part collecting a series of Hayek’s writings under the heading “History of Ideas.” Of the articles contained in this volume the lectures on “The Errors of Constructivism”and “Competition as a Discovery Procedure” have been published before only in German, while the article on “Liberalism” was written in English to be published in an Italian translation in the Enciclopedia del Novicento by the Istituto della Enciclopedia Italiana at Rome.