interview: 1936 — Hayek’s Breakthrough Year

Hayek consistently asserted that the work of John Maynard Keynes was a retrograde throwback to the backward looking, pre-marginalist, objective cost, distributional thought of the classical British economists, a brand of thinking that had been smuggled into post-marginalist economics by Alfred Marshall.  For Hayek, the modern marginalist economics of Menger, Knight, Wieser, and Jevons looked . . . → Read More: interview: 1936 — Hayek’s Breakthrough Year

audio: Bruce Caldwell on Friedrich Hayek & 20th Century Economics

Here’s a great discussion on the economics of Friedrich Hayek (mp3) placed in the context of the history of economics and philosophy of science.  The speaker is Bruce Caldwell, author of Hayek’s Challenge.

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Hayek’s equilibrium theory offered a wealth of suggestions that were to be taken up in the literature of the 1940s and 1950s. The idea of intertemporal equilibrium, which was to be precisely defined in axiomatic terms by Arrow and Debreu, took shape in his writings of the 1920s and 1930s. — Bruna Ingrao & Giorgio Israel

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