In this updated and expanded edition, the author explores the broad features of Hayek's economic philosophy, shows the interrelationship between the liberal philosophy and economic advance, examines Hayek's approach to the problems of a money economy, and explains Hayek's aversion to all forms of centralized economic planning.

'...a most exhaustive and thorough examination of Hayek's work which reads clearly and lucidly.' - Milton Friedman, Hoover Institution

'An admirable achievement' - Bruce J. Caldwell, Advances in Austrian Economics

'If one were to read only one book about Hayek, this should be it. Rather than criticising Hayek's work, Steele aims to present an account of Hayek's work that is both comprehensive and concise. In this aim the author succeeds most admirably.' - Karen I. Vaughn, Journal of Economic Literature

'His writing style is even, scholarly and readable, and his positive restatement of Hayekian thought gives us a well-balanced survey of this alternative intellectual agenda.' - Roger W. Garrison, Southern Economic Journal

Autorentext
G.R. STEELE is Lecturer in Economics at Lancaster University Management School, UK.

Inhalt
Preface 1993 Preface Introduction Sensory Order Liberty, Reason and Rules Liberty and the Market Economic and Social Science The Socialist Calculation Debate Neutral Money and Monetary Policy Capital Business Cycles International or National Money Market Standards for Money Hayek