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Hayek's Tensions: Reexamining the Political Economy and Philosophy of F. A. Hayek
F. A. Hayek, a prominent 20th-century political economist in the Austrian tradition, won the Nobel Prize in Economics in 1974 for his pioneering work on the theory of money and economic fluctuations and on comparative institutional analysis. Hayek's research highlights the importance and dispersed nature of knowledge, advancing an interdisciplinary approach to understanding human behavior. Like any great and productive scholar, he left behind a body of work that includes tensions, flaws, and inconsistencies that must be confronted by scholars looking to engage, critique, and advance his distinctive project in political economy. Hayek's work is important but also open for contestation and imp...
Understanding Ludwig Lachmann's Economics
Ludwig Lachmann is a central but underappreciated figure within the Austrian school of economics. Although his understanding of institutions, his appreciation of the heterogeneity of capital, his emphasis on subjectivity, and his focus on the dynamism and uncertainty of the real world have become dominant positions amongst Austrian economists, he is still viewed as something of an outsider. As such, the contributions of Lachmann's economics are arguably misunderstood. This Element attempts to tease out and discuss the critical contributions of Lachmann's economics. Arguably, one way in which to understand Lachmann's economics is by seeing it as unified in considering, in various ways, a single conceptual 'problem' – the apparent tension between the dynamic nature of social reality and the intelligible nature of the social world. Approaching Lachmann with this theme in mind allows us to put things together more coherently than other exegetical strategies.
The Invisible Hand in Virtual Worlds
Studies the economic order that governs virtual worlds and ways individuals work together to govern social relations in the digital space.
Democratic Elitism
Natasha Piano argues that the Italian School of Elitism--comprising Pareto, Mosca, and Michels--has been consistently misread. These thinkers did not, as alleged, oppose electoral politics. Rather, they saw elections as just one component of democracy and warned that equating the two leaves publics disillusioned and vulnerable to elite capture.
Buchanan's Tensions
"Buchanan's Tensions: Reexamining the Political Economy and Philosophy of James M. Buchanan," a collection of eight original scholarly essays, presents a critical assessment of Buchanan's research and ideas.
Far and Away
From the winner of the National Book Award and the National Books Critics’ Circle Award—and one of the most original thinkers of our time—“Andrew Solomon’s magisterial Far and Away collects a quarter-century of soul-shaking essays” (Vanity Fair). Far and Away chronicles Andrew Solomon’s writings about places undergoing seismic shifts—political, cultural, and spiritual. From his stint on the barricades in Moscow in 1991, when he joined artists in resisting the coup whose failure ended the Soviet Union, his 2002 account of the rebirth of culture in Afghanistan following the fall of the Taliban, his insightful appraisal of a Myanmar seeped in contradictions as it slowly, fitfull...
Liberalism's Last Man
A modern reframing of Friedrich Hayek’s most famous work for the 21st century. Friedrich Hayek’s The Road to Serfdom was both an intellectual milestone and a source of political division, spurring fiery debates around capitalism and its discontents. In the ensuing discord, Hayek’s true message was lost: liberalism is a thing to be protected above all else, and its alternatives are perilous. In Liberalism’s Last Man, Vikash Yadav revives the core of Hayek’s famed work to map today’s primary political anxiety: the tenuous state of liberal meritocratic capitalism—particularly in North America, Europe, and Asia—in the face of strengthening political-capitalist powers like China, Vietnam, and Singapore. As open societies struggle to match the economic productivity of authoritarian-capitalist economies, the promises of a meritocracy fade; Yadav channels Hayek to articulate how liberalism’s moral backbone is its greatest defense against repressive social structures.
