HARVARD UNDERGRADUATE THESIS ON HAYEK

Tyler Goodspeed (History and Economics)

ABSTRACT:

“Rethinking the Keynesian Revolution: Keynes, Hayek, and the Wicksell Connection”

This thesis deals with the theoretical contest between J.M. Keynes and Friedrich Hayek over the origins of the business cycle. I contend that although Hayek’s Austrian business cycle theory offered a more promising link to the growth-theoretic long run and an integrated theory of capital, ultimately it lost out to the distinctly English economics of General Theory both because it did not fit into a comparative static framework and because it failed to provide a theory of general unemployment. Throughout, I trace the elements of the Stockholm School of macroeconomic theorizing in the work of both Keynes and Hayek, as the two economists struggled to recast neoclassical economics.

Comments are closed.

Follow FriedrichHayek on Twitter

Random Quote

During the [1950s] modern economic history took a dramatic swing away from the liberal-left consensus established by the Hammonds, Tawney and the Webbs. The seminal text for this change of direction was the 1954 collection of essays compiled by F. A. Hayek, _Capitalism and the Historians_. — Miles Taylor

خريد vpn خريد vpn خريد vpn خرید vpn آنلاین