The Fortunes of Liberalism: Essays on Austrian Economics and the Ideal of Freedom (The Collected Works of F. A. Hayek) [Hardcover]

F. A. Hayek (Author), Peter G. Klein (Editor)

Book Description

Series: The Collected Works of F. A. Hayek | Publication Date: February 15, 1992

The Reagan and Thatcher "revolutions." The collapse of  Eastern Europe dramatically captured in the tearing down of  the Berlin Wall. F. A. Hayek, "grand old man of capitalism" and founder of the classical liberal, free-market revival which ignited and inspired these world events, forcefully predicted their occurrence in writings such as The Road to Serfdom, first published in 1944.

Hayek's well-known social and political philosophy—in particular his long-held pessimistic view of the prospects of socialism, irrefutably vindicated by the recent collapse of the Eastern bloc—is fully grounded in the Austrian approach to economics. In this new collection, Hayek traces his intellectual roots to the Austrian school, the century-old tradition founded at the University of Vienna by Carl Menger, and links it to the modern rebirth of classical liberal or libertarian thought.

As Hayek reminds us, the cornerstone of modern economics—the theory of value and price—"represents a consistent continuation of the fundamental principles handed down by the Vienna school." Here, in this first modern collection of essays on the Austrian school by one of its preeminent figures, is the genesis of this tradition and its place in intellectual history.

Reflections on Hayek's days as a young economic theorist in Vienna, his opening address to the inaugural meeting of the Mont Pèlerin Society, and essays on former teachers and other leading figures in the Austrian school are included in volume 4. Two hitherto unavailable memoirs, "The Economics of the 1920s as Seen from Vienna," published here for the first time, and "The Rediscovery of Freedom: Personal Recollections," available for the first time in English, make this collection invaluable for Hayek scholars.

Hayek's writings continue to provide an invaluable education in a subject which is nothing less than the development of the modern world.

Editorial Reviews

From Publishers Weekly

In this scholarly work, Harrison, who teaches French and Italian literature at Stanford, traces the forest as a cultural entity through the ages. To early peoples it was a hostile place (the word "forest" derives from the Latin word for "outside"); to a later civilization, the forest came between the people and their gods. Harrison cites the epic of Gilgamesh, Greek and Roman myths, and the tales of the brothers Grimm. Other sources are the works of 19th- and 20th-century writers--Wordsworth, Conrad, Sartre, Thoreau, Leopardi, John Clare and Andrea Zanzotto, among others? . Examining the German obsession with forests, Harrison notes that in the Western imagination the forest is a paradox--a place of danger and yet a sanctuary, at once sacred and profane. He looks at the etymologies of "logos" and "ecology" and concludes that we dwell not in nature but in relation to nature, thus offering a provocative view of the future in terms of Western culture, not just of the fate of forests. Illustrations not seen by PW.
Copyright 1992 Reed Business Information, Inc.

From Library Journal

To the unprepared reader, this book is at first puzzling, beginning with prehistoric myth and emerging into Greek and Roman epic and philosophy. However, by the time readers have made their way through the Middle Ages and up to the 19th and 20th centuries, they become aware of the various impacts forests have had on human culture and psyche as reflected in the literature of the period. From the primitive fear of the chaotic wilderness to the forest as refuge from oppression and tyranny, to the tamed and rationally managed forests of enlightened Europe, we see how humans have been affected by the concept "forest" and how forests have been exploited by humans. A beautifully written book, thought-provoking and scholarly, it will attract a readership interested in more than just a superficial survey of conservation and environmental dangers.
- Eleanor Maass, Maass Assocs., New Milford, Pa.
Copyright 1992 Reed Business Information, Inc.

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Product Details

• Hardcover: 287 pages
• Publisher: University Of Chicago Press; 1 edition (February 15, 1992)
• Language: English
• ISBN-10: 0226320642
• ISBN-13: 978-0226320649
• Product Dimensions: 9.3 x 6.3 x 1 inches
• Shipping Weight: 1.5 pounds
• Average Customer Review: 4.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #2,338,032 in Books (See Top 100 in Books)

More About the Author

Friedrich August Hayek (1899-1992), recipient of the Medal of Freedom in 1991 and co-winner of the Nobel Memorial Prize in Economics in 1974, was a pioneer in monetary theory and the principal proponent of libertarianism in the twentieth century. He taught at the University of London, the University of Chicago, and the University of Freiburg. His influence on the economic policies in capitalist countries has been profound, especially during the Reagan administration in the U.S. and the Thatcher government in the U.K.

Customer Reviews

Most Helpful Customer Reviews

6 of 6 people found the following review helpful:

4.0 out of 5 stars Too Few will Read this Book, November 12, 2009

By 

D. W. MacKenzie (New London CT) - See all my reviews
(REAL NAME)   

This review is from: The Fortunes of Liberalism: Essays on Austrian Economics and the Ideal of Freedom (Collected Works of F. A. Hayek) (Paperback)

Relatively few people should find The Fortunes of Liberalism interesting. It is a book on the history of particular ideas- the development of the Austrian/Classical Liberal worldview, mostly since the late nineteenth century. While few people are interested in this subject, those who are should find this book fascinating. Hayek was not only a witness to this history; he was a major figure in its development.

More people should be interested in this book because the rejection of Classical Liberalism ended in disaster. Why? Liberal free trade produced unprecedented progress up to 1914. The Great War resulted from imperialistic tendencies that predate liberalism. Yet most Europeans and Americans rejected the source of progress.

Peter Klein deserves credit for editing this book. It delves into an important topic. Unfortunately, too few people appreciate the history of ideas, and fewer still appreciate these ideas in particular.