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Taking Hayek Seriously has a diverse audience, and I’m going to be doing several seminars on several different Hayek works to reflect that diversity. This seminar will be on Hayek’s The Road to Serfdom, and I’ll be using the new Collected Works edition edited by Bruce Caldwell. Caldwell’s “definitive edition” is full of excellent new . . . → Read More: SEMINAR: Hayek’s _The Road to Serfdom_
What’s not to love about non-sense like this: Neo-liberalism was far more ideological in temper than social democracy. It had a master theorist, Friedrich Hayek. And it had a faith: the wisdom of the market. Even though nowhere were the ideas of neo-liberalism fully implemented, for 30 years it provided the most important Western policy . . . → Read More: Another Lefty Blames Hayek for the Crash & 3rd World Poverty
Look who’s recommending The Road to Serfdom now: Naturally, the governor is concerned about what is happening in Washington. When I ask him if Mr. Obama’s policies would send this country down the same path as California, Mr. Perry lunges forward, “If you want to know what this guy’s policies are doing, it’s been written . . . → Read More: The Governor of Texas Says – “Read Hayek”
Two more economists weigh in on the “what is wrong with macroeconomics” question: The economics literature is full of different models, each one assuming that it adequately captures how all rational market participants make decisions. Although the free-market Chicago school, neo-Keynesianism, and behavioural finance are quite different in other respects, each assumes the same REH-based . . . → Read More: Frydman & Goldberg on Hayek & Rational Expectations
Der Spiegel goes in depth on the Hayek-inspired central bank economist who warned the world of the coming economic crisis. Earlier: “Who Called the Bust? Well, BIS Chief Economists William White For One” and “The Man Who Called The Crash Confronted Greenspan Man-to-Man in 2003″.
It’s seminar time folks. I’m going to walk people through many of Hayek’s most significant works over the next weeks and months, most especially those most closely relevant to the current crisis in the economy — and in the economics profession itself. And next year we’ll take up Hayek’s The Constitution of Liberty to mark . . . → Read More: SEMINAR: Hayek’s “Economics and Knowledge”
From philosopher Alex Rosenberg and economists Bob Murphy and Mario Rizzo.
This week Russ Roberts shared the podium before Congressional staffers with Arnold Kling, explaining what happened and why. Roberts is the second speaker in the audio available here. Roberts tells a riveting Hayekian macro story of the economic bust — massive leverage via expanding banking money and credit created in part by loaning to each . . . → Read More: audio: Russ Roberts Goes Hayekian on the Bush-Obama Depression
Find links here. You’ll find the Taking Hayek Seriously twitter among the “economics” feeds.
Here’s the short version. Here’s the long version (pdf). This is insightful and helpful work. I recommend it to your attention. The one thing Kling does not much explain is the role of Federal Reserve interest rate policy, or why he downgrades the significance of the Feds unprecedented low interest rate policies of the early . . . → Read More: The ABCs of the Financial Meltdown — Arnold Kling
Having the economics profession in your back pocket? Priceless. More here. HT Mises Blog.
Here’s the section of Friedrich Hayek’s Wikipedia entry subheaded “Work”. Correct it, expand it, or improve it as you see appropriate: [edit] The economic calculation problem Hayek was one of the leading academic critics of collectivism in the 20th century. Hayek believed that all forms of collectivism (even those theoretically based on voluntary cooperation) could . . . → Read More: “Friedrich Hayek” subsection ‘Work’ – Wikipedia Entry
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