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Friedrich A. von Hayek: Critical Assessments of Contemporary Economists, 2nd Series (Critical Assessments of Leading Economists)
Friedrich A von Hayek Critical Assessments of Contemporary Economists 2nd Series - Critical Assessments of Leading Economists Author:John Wood Hayek continues to have a huge influence and this collection charts the various responses to his work up to the present day, addressing the many and multifaceted contributions that he has made to the study of economics and to the social sciences as a whole. — Hayek's reputation has gone through a remarkable cycle. An eminent exponent of the Austr... more »ian theory of business cycles in the 1930s, he was worsted in the controversy over Keynes' Treatise on Money (1930). Following this defeat, Hayek retreated into capital theory, an esoteric branch of economics in which few economists then took an active interest. He gave up economics altogether after the war and turned to psychology, political philosophy, philosophy of law and the history of ideas. However, in 1974 he won the Nobel prize and returned to mainstream economics as a leading critic of Keynesianism and an advocate of free banking as the answer to inflation. Today Hayek reigns supreme as the kind of moral philosopher and political economist that economics has not seen since Adam Smith.« less