Contra Keynes and Cambridge: Essays, Correspondence

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Overview

In 1931, when the young F.A. Hayek challenged the economic theories of John Maynard Keynes, sixteen years his senior and one of the world's leading economists, he sparked a spirited debate that would influence economic policy in democratic countries for decades. Their extensive exchange, which lasted until Keynes's death in 1946, is reprinted in its entirety in this latest volume of "The Collected Works of F.A. Hayek."
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Overview

In 1931, when the young F.A. Hayek challenged the economic theories of John Maynard Keynes, sixteen years his senior and one of the world's leading economists, he sparked a spirited debate that would influence economic policy in democratic countries for decades. Their extensive exchange, which lasted until Keynes's death in 1946, is reprinted in its entirety in this latest volume of "The Collected Works of F.A. Hayek."

Product Details

  • ISBN-13: 9780226320656
  • Publisher: University of Chicago Press
  • Publication date: 5/28/1995
  • Edition description: 1
  • Pages: 277
  • Sales rank: 896,503
  • Series: The Collected Works of F. A. Hayek Series, #9
  • Product dimensions: 6.00 (w) x 9.00 (h) x 1.00 (d)

Meet the Author

F. A. Hayek (1899-1992), recipient of the Presidential Medal of Freedom in 1991 and cowinner of the Nobel Memorial Prize in Economics in 1974, was a pioneer in monetary theory and a leading proponent of classical liberalism in the twentieth century. He taught at the University of London, the University of Chicago, and the University of Freiburg.

Bruce Caldwell is research professor of economics and the director of the Center for the History of Political Economy at Duke University. He is the author of Beyond Positivism: Economic Methodology in the 20th Century and Hayek's Challenge: An Intellectual Biography of F. A. Hayek. Since 2002, he has also served as the general editor of The Collected Works of F. A. Hayek series. A past president of the History of Economics Society, Caldwell has held research fellowships at New York University, Cambridge University, and the London School of Economics.

Table of Contents

Editorial Foreword ix

Introduction 1

PART I. HAYEK COMES TO THE LONDON SCHOOL OF ECONOMICS AND POLITICAL SCIENCE

One The Economics of the 1930s as Seen from London 49
Addendum:  Edwin Cannan 64

Two The "Paradox" of Saving 74

PART II. HAYEK'S EXCHANGES WITH KEYNES AND SRAFFA

Three Reflections on the Pure Theory of Money of Mr. J. M. Keynes 121

Four The Pure Theory of Money:  A Reply to Dr. Hayek, by J. M. Keynes 147

Five A Rejoinder to Mr. Keynes 159
Addendum:  The Early Hayek-Keynes Correspondence 164

Six Reflections on the Pure Theory of Money of Mr. J. M. Keynes (continued) 174

Seven Dr. Hayek on Money and Capital, by Piero Sraffa 198

Eight Money and Capital: A Reply 210

Nine A Rejoinder, by Piero Sraffa 223

PART III. ESSAYS ON KEYNES

Ten Review of Harrod's Life of J. M. Keynes 227
Addendum:  Review of Sir William Beveridge, Full Employment in a Free Society 233

Eleven Symposium on Keynes: Why? 237

Twelve Personal Recollections of Keynes and the 'Keynesian Revolution' 240

Thirteen The Keynes Centenary:  The Austrian Critique 247

Editor's Acknowledgements 257

Index 259

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