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.

Friedrich August von Hayek (1899-1992), winner of the Nobel Prize in economics, was an influential economist and political philosopher. The increased attention he received in the late 20th century with the rise of conservatism in the US and UK, led him to publish "Why I Am Not a Conservative," an essay in which he berated conservatism. He preferred to be identified as what Edmund Burke called an "Old Whig." Amongst his most important contributions are his writings on general equilibrium, central planning and social justice as well as his political theory work, The Constitution of Liberty, in which he explained the proper role of the government.

Whilst some of Hayek's contributions to economics are purely analytical, others are inspired by a broader vision that could be characterized as political economy. In this authorative volume, some of the world's leading Hayek scholars examine the link between these two essential components of Hayek's thought, and consider them against a wider background of thought in the Austrian tradition.

What is the role of human agency in Friedrich Hayek's thought? This volume situates Hayek's writing as it relates to economic organization and activity, particularly to assess what role Hayek assigns to leaders in determining economic progress.

"The projected nineteen-volume Collected Works of F.A. Hayek series, when complete, will contain newly edited editions of Hayek's books, articles, and letters; interviews with the author; and hitherto unpublished manuscripts"--Volume 11, jacket.

This volume critically explore and extend Hayek’s Nobel Prize-winning work on knowledge and social interconnectedness from the disciplines of law, economics, philosophy, anthropology, political science, and history. Hayek’s insights about knowledge become even more important once it is recognized that nothing in the social world occurs in isolation. There is no such thing as a distinct economic, political, or social sphere—they are inextricably intertwined. Given the range of both Hayek’s work and the contributing authors’ perspectives, the range of topics covered in this volume is extraordinarily wide, running the gamut from immigration, to white supremacy, to ancient agricultural practices, to the nature of what it means to be free.

F.A. Hayek's work has stimulated, challenged and inspired economists for more than 50 years. In two distinct but complementary volumes, The Economics of F.A. van Hayekexplores all relevant aspects of Hayek's theory to investigate whether a synthesis of interpretation is possible and to what extent his economic theory is a sound foundation for both his own philosophy and the development of modern theories. Money and Business Cycles, the first volume, is devoted almost exclusively to Hayek's trade cycle theory and the related dynamic economics with sections on money and the trade cycle, Hayek and structural theories of the business cycle, and Hayek and equilibrium business cycle theory. The essays in this volume focus on Hayek's important contributions to price theory, monetary theory and capital theory in the period from 1924 to 1942 and his ultimate aim to develop a unified theory to explain industrial fluctuations. Featuring discussion of Hayek's legacy by economists from a variety of theoretical traditions, the contributors to these volumes argue that although his theory and very own particular approach make it difficult to incorporate his contributions into mainstream economics, his far-reaching insights nevertheless raise problems which are still waiting for a solution in modern technical economics.

Provides a philosophical and critical analysis of F.A. Hayek's version of Classical Liberalism. Highlighting weaknesses of the agnostic, evolutionary ethics that Hayek, a recipient of the Nobel Prize in Economics, considers foundational to his free-market system, the study explores alternative moral foundations within Christian ethics.