Hayek's Tensions - (Tensions in Political Economy) by Stefanie Haeffele & Solomon M Stein & Virgil Henry Storr (Paperback)
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<p/><br></br><p><b> Book Synopsis </b></p></br></br><p>F. A. Hayek, a prominent 20th-century political economist in the Austrian tradition, </p><p>won the Nobel Prize in Economics in 1974 for his pioneering work on the theory of</p><p>money and economic fluctuations and on comparative institutional analysis. Hayek's</p><p>research highlights the importance and dispersed nature of knowledge, advancing</p><p>an interdisciplinary approach to understanding human behavior. Like any great and</p><p>productive scholar, he left behind a body of work that includes tensions, flaws, and</p><p>inconsistencies that must be confronted by scholars looking to engage, critique, and</p><p>advance his distinctive project in political economy.</p><p><br></p><p>Hayek's work is important but also open for contestation and improvement. <em>Hayek's</em></p><p><em>Tensions: Reexamining the Political Economy and Philosophy of F. A. Hayek</em> presents</p><p>a critical assessment of Hayek's research and ideas and identifies sources of tension</p><p>within his writing. The contributions to this edited volume include original chapters by</p><p>eminent scholars of complexity theory, of Austrian economics, and of Hayek himself.</p><p>The book's key takeaway is that the research program Hayek developed continues as</p><p>an open-ended project, both as a social-scientific approach and as a classical liberal</p><p>vision of a free society, rather than as a static dogma or set of theories from a bygone</p><p>era. Taken as a whole, this volume identifies important questions and areas for future</p><p>research by the next generation of political economists.<p/><br></br><p><b> Review Quotes </b></p></br></br><br><p>"F. A. Hayek's contributions extended across many decades and many fields, and inevitably contained many tensions. In this compelling collection, some of the tensions are argued to be illusory; others to be real, but resolvable; and others to be real and unresolved, serving as invitations to further work. The chapter authors know their subjects well, and make substantive contributions. This is a fine contribution to Hayekian and, indeed, social science scholarship."</p><p>- Bruce Caldwell, research professor of economics and director of the Center for the History of Political Economy, Duke University; author of <em>Hayek's Challenge: An Intellectual Biography of F. A. Hayek</em> (Chicago University Press, 2004)</p><p><br></p><p>"Hayek, one of the most influential 20th Century economists, continues to grow in reputation and influence. His work, however, is in many respects enigmatic, and hence the importance of this book in examining Hayek's contributions. What will persist and grow ever more significant, I believe, is Hayek's discovery and articulation of the pricing system as an information and coordination system, thereby returning economics to Adam Smith's principal theme."</p><p>-Vernon Smith, Nobel laureate in economics; professor of economics and law and the George L. Argyros Endowed Chair in Finance and Economics at Chapman University; coauthor of <em>Humanomics</em> (Cambridge University Press, 2019)</p><p><br></p><p>"This collection of engaging essays is testimony to the richness and vitality of Hayek's thought. It is also full of ideas for future work inspired by Hayek's insights."</p><p>-Chandran Kukathas, dean and Lee Kong Chian Chair Professor of Political Science, School of Social Sciences, Singapore Management University; author of <em>The Liberal Archipelago</em> (Oxford University Press, 2003)</p><br>
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