Essays on Liberalism and the Economy

F. A. Hayek (1899–1992), recipient of the Presidential Medal of Freedom in 1991 and cowinner 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. Paul Lewis is professor of political economy at King’s College London and an affiliated fellow with the F. A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at George Mason University.

• Editor’s Introduction   Editorial Foreword   1. Liberalism   2. The Transmission of the Ideals of Economic Freedom   3. The Prospects of Freedom   4. The Webbs and Their Work   5. Closing Speech to the 1984 Mont Pèlerin Society Meeting   6. ‘Free’ Enterprise and Competitive Order   7. The Economic Conditions of Inter-state Federalism   8. The Meaning of Government Interference   9. The Economics of Development Charges   10. Effects of Rent Control   11. Economics   12. The Uses of ‘Gresham’s Law’ as an Illustration of ‘Historical Theory’   13. The Dilemma of Specialisation   14. Full Employment, Planning and Inflation   15. Inflation Resulting from the Downward Inflexibility of Wages   16. Unions, Inflation, and Profits   17. The Corporation in a Democratic Society: In Whose Interest Ought It to and Will It Be Run?   18. The Non Sequitur of the ‘Dependence Effect’   19. What Is ‘Social’? What Does It Mean?   20. The Moral Element in Free Enterprise   21. The Principles of a Liberal Social Order   22. The Constitution of a Liberal State   23. The Confusion of Language in Political Thought   24. Economic Freedom and Representative Government   25. The Campaign against Keynesian Inflation   26. The New Confusion about ‘Planning’   27. The Atavism of Social Justice   28. Whither Democracy?   29. Socialism and Science   30. Two Pages of Fiction: The Impossibility of Socialist Calculation   31. Letters to The Times, 1931–1981