By Bruce J. Caldwell
Friedrich A. Hayek is considered one of many preeminent monetary theorists of the 20 th century, as a lot for his paintings outdoors of economics as for his paintings inside of it. in the course of a occupation spanning a number of many years, he made contributions in fields as assorted as psychology, political philosophy, the heritage of rules, and the method of the social sciences. Bruce Caldwell—editor of The accumulated Works of F. A. Hayek—understands Hayek's concept like few others, and with this e-book he deals us the 1st complete highbrow biography of this pivotal social theorist.
Caldwell starts by way of offering the mandatory historical past for realizing Hayek's notion, tracing the emergence, in fin-de-siècle Vienna, of the Austrian university of economics—a specific research cast in the middle of contending colleges of concept. within the moment a part of the ebook, Caldwell follows the trail through which Hayek, starting from the traditional Austrian assumptions, steadily built his designated standpoint on not just economics yet a huge variety of social phenomena. within the 3rd half, Caldwell deals either an review of Hayek's arguments and, in an epilogue, an insightful estimation of the way Hayek's insights may also help us to elucidate and reexamine adjustments within the box of economics in the course of the 20th century.
As Hayek's rules matured, he grew to become more and more severe of advancements inside of mainstream economics: his works grew more and more contrarian and advanced in striking—and occasionally possible contradictory—ways. Caldwell is very best to give an explanation for the advanced evolution of Hayek's notion, and his research here's not anything in need of great, impressively situating Hayek in a broader highbrow context, unpacking the customarily tough turns in his considering, and displaying how his monetary rules got here to notify his rules at the different social sciences.
Hayek's problem can be acquired as the most vital works released in this philosopher in fresh decades.
"Hayek is lucky in his biographer. Hayek's problem is a hit, and Caldwell proves himself able to providing Hayek's principles - in all fields - with either intensity and clarity.... Hayek's problem is worthy remembering, and Bruce Caldwell has performed an exceptional carrier by way of reminding us of it." - Jason Steorts, nationwide evaluation
"Bruce Caldwell's highbrow biography of the good Austrian is a superb work." - Richard D. North, autonomous (UK)
"Hayek has spawned a burgeoning literature, usually expressing polarized, jargon-laden perspectives. This obtainable creation to Hayek's highbrow existence and instances is a fresh exception." - Choice"