The Trend of Economic Thinking: Essays on Political Economists and Economic History (The Collected Works of F. A. Hayek) [Hardcover]

F. A. Hayek (Author), W. W. Bartley III (Editor), Stephen Kresge (Editor)

Book Description

Series: The Collected Works of F. A. Hayek | Publication Date: December 1, 1991

The Iron Curtain has been cast aside. The Berlin Wall has fallen. Germany has been reunited. And F. A. Hayek's forceful predictions of the inevitable failure of socialism and central economic planning are now rendered irrefutable. Yet Hayek still rightfully cautions us to heed his arguments, warning that "in economics you can never establish a truth once and for all but have always to convince every generation anew."

The Trend of Economic Thinking captures Hayek's views on political economists and economic history—on Mandeville, Hume, Cantillon, Adam Smith, and Henry Thornton. Framed by insightful editorial notes, fifteen newly collected essays—including five previously unpublished pieces and two others never before available in English—provide a fascinating introduction to the historical context of political economy and the evolution of monetary practices. In a highlight of the collection, "On Being an Economist," Hayek reflects on the influence of economists, the time required for new ideas to take hold, the best way to educate economic theorists, and the need to follow one's own interests, often in opposition to fashionable beliefs. As always, the words of this outspoken scholar are sure to provoke debate.

Editorial Reviews

About the Author

F. A. 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 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.

Product Details

• Hardcover: 398 pages
• Publisher: University Of Chicago Press; 1 edition (December 1, 1991)
• Language: English
• ISBN-10: 0226320677
• ISBN-13: 978-0226320670
• Product Dimensions: 9.2 x 6.3 x 1.3 inches
• Shipping Weight: 1.8 pounds
• Average Customer Review: 4.5 out of 5 stars  See all reviews (2 customer reviews)
• Amazon Best Sellers Rank: #1,887,435 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

11 of 11 people found the following review helpful:

4.0 out of 5 stars An excellent overview of economic intellectual history, November 5, 1998

By 

Gerald R. Lampton ([e-mail]) (La Crescenta, California) - See all my reviews

This review is from: The Trend of Economic Thinking: Essays on Political Economists and Economic History (The Collected Works of F. A. Hayek) (Hardcover)

In The Trend of Economic Thinking (Vol. 3 of the Collected Works of F.A. Hayek), the editors have collected together some of Hayek's essays and book reviews on many of the major English and Western European political economists from the early Eighteenth through the mid-Nineteenth Centuries. These essays trace much of the evolution of classical economic thought, showing that many of the ideas commonly associated with Smith and others of the classical period actually much predated them, but also highlighting the original contributions of each of the great thinkers discussed in the essays.

The book is divided into four parts. The first, "The Economist and His Dismal Task," presents some of Hayek's views on the the nature of the study of economics and in the social sciences generally. The second, "The Origins of Political Economy in Britain," presents essays on Francis Bacon, Dr. Bernard Mandeville, David Hume (who Hayek greatly admired), and Adam Smith. The third section, "English Monetary Policy and the Bullion Debate," consists of four previously unpublished chapters of a book Hayek started to write but never completed, plus essays on Richard Cantillon and Henry Thornton. The last section of the book, "Currents of Thought in the Ninteenth Century," comprises three short essays on Frederic Bastiat, Jules Dupuit, and Hermann Gossen, respectively.

This book does not cover the Austrian School (that comes in Volume 4 of the Collected Works), but it is a must read for any student who wants to study the great classical writers in political economy or F.A. Hayek's views of them.

3 of 3 people found the following review helpful:

5.0 out of 5 stars A fine choice in any regard, May 15, 2009

By 

Midwest Book Review (Oregon, WI USA) - See all my reviews

This review is from: The Trend of Economic Thinking: Essays on Political Economists and Economic History (Collected Works of F. A. Hayek) (Paperback)

Economic thinking, just like any other school of thought, has had its own evolution over the years. "The Trend of Economic Thinking: Essays on Political Economists and Economic History" is a collection of essays from renown economic scientist F.A. Hayek chronicling the ideas of one of the best economic minds fo the twentieth century. His essays discuss the past history of economics from the times of Adam Smith, to his own contemporary times where capitalism and communism were at each others throats at every front. A must read for any economics student or simply one who wants a better grasp of how money works in the world, "The Trend fo Economic Thinking" is a fine choice in any regard.