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Rethinking the Keynesian Revolution: Keynes, Hayek, and the Wicksell Connection

Tyler Beck Goodspeed

Published in print:
2012
Published Online:
September 2012
ISBN:
9780199846658
eISBN:
9780199950126
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199846658.001.0001
Subject:
Economics and Finance, Economic Systems

While standard accounts of the theoretical debates in 1930s economic thought invariably pit John Maynard Keynes against Friedrich von Hayek, this reflexive dichotomy is in many respects exceedingly ... More


Hayek's Social and Political Thought

Roland Kley

Published in print:
1994
Published Online:
October 2011
ISBN:
9780198279167
eISBN:
9780191684289
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198279167.001.0001
Subject:
Political Science, Political Theory

This book examines the work of one of the most controversial figures in recent social and political thought. Revered by some as the most important 20th century theorist of the free society, Friedrich ... More


Hayek and Modern Liberalism

Chandran Kukathas

Published in print:
1989
Published Online:
October 2011
ISBN:
9780198273264
eISBN:
9780191684029
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198273264.001.0001
Subject:
Political Science, Political Theory

In the history of modern liberal political thought the work of F. A. Hayek stands out as one of the most significant contributions to liberal theory since J. S. Mill. This book critically examines ... More


Constructions of Neoliberal Reason

Jamie Peck

Published in print:
2010
Published Online:
January 2011
ISBN:
9780199580576
eISBN:
9780191595240
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199580576.001.0001
Subject:
Business and Management, Political Economy

Amongst intellectuals and activists, neoliberalism has become a potent signifier for the kind of free-market thinking that has dominated politics for the past three decades. Forever associated with ... More


The Jeopardy Thesis

Joseph V. Femia

in Against the Masses: Varieties of Anti-Democratic Thought Since the French Revolution

Published in print:
2001
Published Online:
November 2003
ISBN:
9780198280637
eISBN:
9780191599231
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198280637.003.0004
Subject:
Political Science, Political Theory

According to the jeopardy thesis, democracy will endanger or even destroy values that we hold dear: cultural excellence, freedom, and economic prosperity. The proponents of the jeopardy thesis are ... More


The Value of Freedom

Ian Carter

in A Measure of Freedom

Published in print:
1999
Published Online:
November 2003
ISBN:
9780198294535
eISBN:
9780191598951
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198294530.003.0003
Subject:
Political Science, Political Theory

It is important for liberals to make sense of claims about degrees of overall freedom because freedom is a fundamental value for liberals. Freedom is a fundamental value for liberals because liberals ... More


Freedom

David Miller

in Market, State, and Community: Theoretical Foundations of Market Socialism

Published in print:
1990
Published Online:
November 2003
ISBN:
9780198278641
eISBN:
9780191599903
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198278640.003.0002
Subject:
Political Science, Political Theory

Libertarians defend a narrow version of negative freedom. Hayek defines freedom as the absence of coercion, but this position is shown to be untenable. A more common view is that laws and other such ... More


Procedural Justice

David Miller

in Market, State, and Community: Theoretical Foundations of Market Socialism

Published in print:
1990
Published Online:
November 2003
ISBN:
9780198278641
eISBN:
9780191599903
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198278640.003.0003
Subject:
Political Science, Political Theory

Libertarians such as Nozick and Hayek define justice in procedural terms. Nozick takes for granted the liberal idea of property, but in fact this is historically contingent and other conceptions of ... More


Distributive Justice

David Miller

in Market, State, and Community: Theoretical Foundations of Market Socialism

Published in print:
1990
Published Online:
November 2003
ISBN:
9780198278641
eISBN:
9780191599903
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198278640.003.0007
Subject:
Political Science, Political Theory

Could a market economy produce outcomes that meet our criteria of distributive justice? Some egalitarians, such as Carens, have proposed that markets should govern production but not distribution, ... More


Politics as Dialogue

David Miller

in Market, State, and Community: Theoretical Foundations of Market Socialism

Published in print:
1990
Published Online:
November 2003
ISBN:
9780198278641
eISBN:
9780191599903
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198278640.003.0011
Subject:
Political Science, Political Theory

If politics is a process whereby collective decisions are reached from an initial position of disagreement, there are two conceptions of how this should happen. Politics as interest‐aggregation looks ... More


The Foundations of the Rule of Law as a Moral Ideal

Raymond Plant

in The Neo-liberal State

Published in print:
2009
Published Online:
February 2010
ISBN:
9780199281756
eISBN:
9780191713040
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199281756.003.0003
Subject:
Political Science, Comparative Politics, Political Theory

Given that the rule of law as embodied in the basic nomocratic order of the neo‐liberal state is based upon a moral ideal, and given that these rules as constitutional rules can be seen as a ... More


A Treatise versus Prices and Production

Tyler Beck Goodspeed

in Rethinking the Keynesian Revolution: Keynes, Hayek, and the Wicksell Connection

Published in print:
2012
Published Online:
September 2012
ISBN:
9780199846658
eISBN:
9780199950126
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199846658.003.0002
Subject:
Economics and Finance, Economic Systems

This chapter delves into the first Keynesian and Hayekian variations on the Wicksellian theme, namely, Keynes’s A Treatise on Money (1930) and Hayek’s Prices and Production (1931). We explain that in ... More


The Sraffa Connection

Tyler Beck Goodspeed

in Rethinking the Keynesian Revolution: Keynes, Hayek, and the Wicksell Connection

Published in print:
2012
Published Online:
September 2012
ISBN:
9780199846658
eISBN:
9780199950126
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199846658.003.0003
Subject:
Economics and Finance, Economic Systems

This chapter dissects the exceedingly dense and highly abstract material from which the Keynes-Hayek debate derived its popular fame, namely, the counterreviews of A Treatise and Prices and ... More


Pure Theory of Capital

Tyler Beck Goodspeed

in Rethinking the Keynesian Revolution: Keynes, Hayek, and the Wicksell Connection

Published in print:
2012
Published Online:
September 2012
ISBN:
9780199846658
eISBN:
9780199950126
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199846658.003.0005
Subject:
Economics and Finance, Economic Systems

This chapter tackles Hayek’s Pure Theory of Capital (1941), and various elucidations of the “Ricardo effect.” Here, the chapter examines how Hayek absorbed many of Sraffa’s criticisms and moved away ... More


Rethinking the Keynesian Revolution

Tyler Beck Goodspeed

in Rethinking the Keynesian Revolution: Keynes, Hayek, and the Wicksell Connection

Published in print:
2012
Published Online:
September 2012
ISBN:
9780199846658
eISBN:
9780199950126
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199846658.003.0007
Subject:
Economics and Finance, Economic Systems

The central argument of this book is that Keynes and Hayek both consistently adhered to a theoretical approach to monetary economics, separate from the quantity theory and general equilibrium ... More


The 1940s: The Emergence of the Neoliberal Critique

Daniel Stedman Jones

in Masters of the Universe: Hayek, Friedman, and the Birth of Neoliberal Politics

Published in print:
2014
Published Online:
October 2017
ISBN:
9780691161013
eISBN:
9781400851836
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691161013.003.0003
Subject:
History, American History: 20th Century

This chapter illustrates how Friedrich Hayek began to develop an intellectual and organizational strategy to protect and maintain “the free society” as World War II drew to an end. His strategy ... More


The Rising Tide: Neoliberal Ideas in the Postwar Period

Daniel Stedman Jones

in Masters of the Universe: Hayek, Friedman, and the Birth of Neoliberal Politics

Published in print:
2014
Published Online:
October 2017
ISBN:
9780691161013
eISBN:
9781400851836
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691161013.003.0004
Subject:
History, American History: 20th Century

This chapter talks about how a distinct neoliberal worldview was built on the foundations of the critique of New Deal liberalism and social democracy synthesized in the writings of Ludwig von Mises, ... More


A Very Philosophical War: The Global New Deal and Its Critics

David Ellwood

in The Shock of America: Europe and the Challenge of the Century

Published in print:
2012
Published Online:
September 2012
ISBN:
9780198228790
eISBN:
9780191741739
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198228790.003.0008
Subject:
History, European Modern History, American History: 20th Century

This chapter is divided into three main sections. Firstly, it embraces emergence of a vast American determination to reform the world so as to eliminate the roots of Europe's ability to b ring war ... More


The Process of Coordination

Mark Casson

in Information and Organization: A New Perspective on the Theory of the Firm

Published in print:
2001
Published Online:
November 2003
ISBN:
9780198297802
eISBN:
9780191596063
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198297807.003.0002
Subject:
Economics and Finance, Microeconomics

Hayek's and Richardson's views of coordination are discussed. Coordination is effected by information systems. A schematic procedure for mapping information flows is introduced. It is used to ... More


Property Rights, Contract Rights, and Other Economic Rights

William J. Talbott

in Human Rights and Human Well-Being

Published in print:
2010
Published Online:
January 2011
ISBN:
9780195173482
eISBN:
9780199872176
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195173482.003.0009
Subject:
Philosophy, Political Philosophy

This chapter uses the main principle to explain why economic rights should be regarded as human rights. Property rights, contract rights, and other economic rights are a solution to the productive ... More


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