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Palgrave Macmillan

F. A. Hayek and the Modern Economy

Economic Organization and Activity

ISBN 9781137359582
Publication Date December 2013
Formats Hardcover Ebook (EPUB) Ebook (PDF) 
Publisher Palgrave Macmillan
Series Jepson Studies in Leadership

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. Peart and Levy explore the scope for policy makers leading the economy through crisis, how much agency policy makers should assume, and the leadership role that economists should legitimately play in the development and implementation of new economic policy.

Hayek held that economists should take center stage in terms of advocating economic policy but his was a quite different sort of advocacy. He disagreed with some of his contemporaries on what economic policies were best suited to promote economic expansion and stability, seeing economic aggregation as fraught with methodological difficulties and, therefore, that no scientist or policy maker had the wherewithal to direct market transactions. The volume examines the nature of these disagreements along with a number of other themes that characterize Hayek's lifelong work.

Sandra J. Peart is Dean of the Jepson School of Leadership Studies at the University of Richmond, USA.

David Levy is Professor of Economics at George Mason University, USA, and a Distinguished Fellow of the History of Economics Society.

Peart and Levy have co-directed the Summer Institute for the Preservation of the History of Economics since 2000.

Introduction; Sandra J. Peart & David M. Levy
1. On Hayek's Unsentimental Liberalism; Peter McNamara
2. F. A. Hayek and the 'Individualists'; Sandra J. Peart and David M. Levy
3. The Evolution, Evaluation, and Reform of Social Morality: A Hayekean Analysis; Gerald Gaus
4. Hayek and the Conditions of Freedom; Kenneth Minogue
5. F. A. Hayek and the Early Foundations of Spontaneous Order; Emily Skarbek
6. Hayek and the Nomothetes; Christopher S. Martin
7. The Control of Engagement Order: Attlee's Road to Serfdom?; Andrew Farrant and Nicola Tynan
8. Hayekian Perspectives on Canada's Economic and Social Reforms of the 1990s; Jason Clemens and Niels Veldhuis
9. The Conjoint Quest for a Liberal Positive Program: 'Old Chicago,' Freiburg, and Hayek; Ekkehard Köhler and Stefan Kolev
10. Hayek and My Life; Václav Klaus
Conclusion: The Hayek Difference; David M. Levy and Sandra J. Peart


"This interdisciplinary collection of essays ranges widely across Hayek's life and ideas, yielding valuable new insights about his moral theory, the origins of his social philosophy, and his influence on political reforms in the final decades of the twentieth century." - Angus Burgin, Professor of History, Johns Hopkins University, USA"Anyone unfamiliar with F.A. Hayek may wonder why this volume enjoys a place in a series dedicated to the study of leadership. Serious students of leadership should look again. To paraphrase Hayek, it is the curious task of leaders to recognize how little they really know about the complex social processes others may imagine they control. Emphasizing the nature of knowledge systems in social processes, this volume fills a critical gap in leadership studies." - Emily Chamlee-Wright, Provost and Dean of the College, Washington College, USA"This collection expands upon David Levy's half century of considering the relation of Mandeville and Smith to F. A. Hayek, and Peart's long engagement with Mill and Hayek. The several authors engage the contributions of Hayek, such as to knowledge, and to evolutionary thought. Students of Hayek will discover new facets of his sources and thinking." - Leonard P. Liggio, Professor, Atlas Economic Research Foundation
"This collection makes a significant contribution to the crowded field of Hayek scholarship. The essays are original and make use of archival materials, and they manage to avoid the overploughed areas in that field. Peart and Levy have assembled a volume that will add substantially to our understanding of Hayek's work, its historical context, and its contemporary relevance." - Steve Horwitz, Charles A. Dana Professor of Economics, St. Lawrence University, USA
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