From the Boston Globe obituary: “Bork credited reading F. A. Hayek’s The Road to Serfdom & Whittaker Chambers’ Witness for having ‘destroyed my daydreams about socialism’.”
In the Financial Times:
“There are three more reasons to doubt the Keynesian view. First, the fiscal expansion has been mostly in the form of temporary tax cuts and transfer payments. Much of these were probably saved, not spent.
Second, the zero interest rate policy has a risk not acknowledged by the Fed: the creation . . . → Read More: Jeffrey Sachs attacks Keynesian Policies, favors Hayekian Explanations
Here is the link to the EconTalk podcast which includes extensive bibliographical links.
“It seems obvious as soon as one once begins to think about it that almost any change in the amount of money, whether it does influence the price level or not, must always influence relative prices. And, as there can be no doubt that it is relative prices which determine the amount and the direction . . . → Read More: Great Hayek Quote on Expanding Money and Changing Networks of Relative Prices & Structures of Production
In 1931 Hayek took British economists on a landmark trip through the history of economic thought as an introduction to Hayek new account of intertemporal equilibrium and disequilibrium through the domains of money, credit and production across time. As Hicks and many other tell us, Hayek’s Prices and Production journal effectively transformed the art of . . . → Read More: A Note on Why Hayek Took British Economists on a Trip with Hume & Cantillon
Just starting The Great Persuasion: Reinventing Free Markets since the Depression by Angus Burgin, the story of Hayek, Friedman and the Mont Pelerin Society.
Hayek had a single theme from his 1928 book to his writings and interviews at the end of his life — math constructs *fail* to capture the imperfect *signal* function of prices and the imperfect learning, judging and discovery role of real human beings.
And a simple joke made by a senior LSE faculty . . . → Read More: Some Thoughts on Hayek, Wittgenstein and How to NOT to ‘Model’ Language or the Price System