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Notwithstanding the predominant role in academic economic theory that Keynes and Keynesian economics achieved during the twentieth century, his basic… - Alan O. Ebenstein
" "Notwithstanding the predominant role in academic economic theory that Keynes and Keynesian economics achieved during the twentieth century, his basic outlook and policy recommendations were shaped by the particular experiences of the British Empire’s waning years.
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About Alan O. Ebenstein
Alan O. (Lanny) Ebenstein (born 28 May 1959) is an American political scientist, and the author of Friedrich Hayek: A Biography, the first English language biography of Hayek, and Hayek’s Journey: The Mind of Friedrich Hayek.
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Alan Oliver
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Additional quotes by Alan O. Ebenstein
Hayek ripped G. W. F. Hegel in The Counter-Revolution of Science’s third part for his “historicism”—the idea, in Hayek’s terminology, that history moves in set and predictable stages. He considered this idea fatally flawed and societies that were based on it to be unsuccessful, unproductive, and unfree. Historicism denies free will. The future is what we make of it.
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Hayek expressed more fully and deeply than Mises the epistemological argument for free market order. The crucial issue for Hayek became not that without prices individuals cannot calculate (though he thought this to be the case), but that the division of knowledge renders centralized control of an economy or society impossible.
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