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Hayek: A Collaborative Biography

Part XV: The Chicago School of Economics, Hayek's 'luck' and the 1974 Nobel Prize for Economic Science

Autor: Robert Leeson

Jazyk:

Väzba: Pevná

Vydavateľ: Springer International Publishing AG

Dostupnosť: Skladom u dodávateľa

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123.57 €

On 9 August 1974, Richard Nixon resigned to avoid impeachment; on 29 April 1975, the United States s...

Informácie o knihe

Autor

Robert Leeson

Jazyk

Angličtina

Väzba

Kniha - Pevná

Vydalo

2018

Stránok

432

EAN

9783319952185

ISBN

3319952188

Enbook ID

19689643

Vydavateľ

Springer International Publishing AG

Hmotnosť

708

Rozmery

148 x 210 x 30

Kompletný popis

On 9 August 1974, Richard Nixon resigned to avoid impeachment; on 29 April 1975, the United States scuttled from their Embassy in Saigon - optics that were interpreted as defeats for the 'International Right'. Yet in 1975, Margaret Thatcher became leader of the Conservative Party; and in 1976 Ronald Reagan almost unseated a sitting Republican Party President. Pivotal to the 'turn to the Right' was Friedrich 'von' Hayek's 1974 Nobel Prize for Economic Science - awarded for having used Austrian Business Cycle Theory to predict the Great Depression: 'For him it is not a matter of a simple defence of a liberal system of society as may sometimes appear from the popularized versions of his thinking.' The evidence suggests that Hayek's fraudulent assertion was uncovered at the University of Chicago in the early 1930s - but not reported. The most likely explanation is self-censorship - for reasons of ideological correctness, fund raising and residual deference to the Second Estate. Four indirect tests suggest that 'free' market economists have - in other instances and presumably for fund-raising motives - suppressed embarrassing 'knowledge': which suggests that they were perfectly capable of suppressing 'knowledge' about Hayek's non-prediction of the Great Depression. With respect to the Nobel Prize and thus his ability to reach a wider audience, Hayek was fortune in having two loyal 'intermediaries': Lionel Robbins and Fritz Machlup who were - and probably felt themselves to be - 'socially' inferior to 'von' Hayek.

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Hayek: A Collaborative Biography

Part XV: The Chicago School of Economics, Hayek's 'luck' and the 1974 Nobel Prize for Economic Science

Informácie o knihe

Kompletný popis

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