rdf-syntax-grammar
mods:
  schema location: http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-2.xsd
  title info:
    title: Hayek: A Collaborative Biography
    sub title: Part XV: The Chicago School of Economics, Hayek's 'luck' and the 1974 Nobel Prize for Economic Science
  name:
    name part: Leeson, Robert.
    role:
      role term: editor.
    role:
      role term: edt
    role:
      role term: http://id.loc.gov/vocabulary/relators/edt
  name:
    name part: SpringerLink (Online service)
  type of resource: text
  origin info:
    place:
      place term: gw
    date issued: 2018
    edition: 1st ed. 2018.
    issuance: monographic
  language:
    language term: eng
  physical description:
    form: electronic
    form: electronic resource
    reformatting quality: access
    form: remote
    extent: XV, 432 p. online resource.
  abstract: On 9 August 1974, Richard Nixon resigned to avoid impeachment; on 29 April 1975, the United States scuttled from their Embassy in Saigon - optics that were interpreted as defeats for the 'International Right'. Yet in 1975, Margaret Thatcher became leader of the Conservative Party; and in 1976 Ronald Reagan almost unseated a sitting Republican Party President. Pivotal to the 'turn to the Right' was Friedrich 'von' Hayek's 1974 Nobel Prize for Economic Science - awarded for having used Austrian Business Cycle Theory to predict the Great Depression: 'For him it is not a matter of a simple defence of a liberal system of society as may sometimes appear from the popularized versions of his thinking.' The evidence suggests that Hayek's fraudulent assertion was uncovered at the University of Chicago in the early 1930s - but not reported. The most likely explanation is self-censorship - for reasons of ideological correctness, fund raising and residual deference to the Second Estate. Four indirect tests suggest that 'free' market economists have - in other instances and presumably for fund-raising motives - suppressed embarrassing 'knowledge': which suggests that they were perfectly capable of suppressing 'knowledge' about Hayek's non-prediction of the Great Depression. With respect to the Nobel Prize and thus his ability to reach a wider audience, Hayek was fortune in having two loyal 'intermediaries': Lionel Robbins and Fritz Machlup who were - and probably felt themselves to be - 'socially' inferior to 'von' Hayek. .
  table of contents: Part I: Hayek's Luck -- 1. 'I have been lucky in this game.' -Robert Leeson -- 2. The Tobacco, Obesity and Fossil Fuel Lobby - 'As Happy as Hell.' -Robert Leeson -- 3. 1-15: Residual reverence towards the Second Estate. -Robert Leeson -- 4. 16-20: Loyal 'intermediaries.' -Robert Leeson -- 5. 21-24: 'I desire to preserve correct relations in public.' Robert Leeson -- 6. 25: Suppression, the dogs that didn't bark, and the emerging Chicago School of Economics. -Robert Leeson -- 7. 31 Conclusions about Hayek's Nineteen Thirty One 'Prediction.' -Robert Leeson -- Part II: Myrdal and Machlup -- 8. The Saving/Investment Explanation of Business Cycles in Hayek and Myrdal: Similarities and Differences. -Adrián de León Arias -- 9. Machlup and Hayek: Filation of Ideas and Ambition. Carol M. Connell -- Part III: The Chicago School of Economics -- 10. Friedman and Hayek's Converging Ideas on Freedom and the State. Birsen Filip -- 11. Chicago Economics in the Making, 1926-1940: A Further Look at United States Interwar Pluralism. Luca Fiorito and Sebastiano Nerozzi.
  note: edited by Robert Leeson.
  subject:
    topic: Economic history
  subject:
    topic: Economic policy
  subject:
    topic: History of Economic Thought/Methodology
  subject:
    topic: Economic Policy
  classification: HC10-1085
  classification: 330.1509
  related item:
    title info:
      title: Springer eBooks
  related item:
    title info:
      title: Archival Insights into the Evolution of Economics
  identifier: 9783319952192
  identifier: https://doi.org/10.1007/978-3-319-95219-2
  record info:
    record creation date: 181102
    record change date: 20200218053615.0
    record identifier: 978-3-319-95219-2