Word: hayek
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Dates: during 1950-1959
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...fact is that virtually no non-Keynesian economics, that is, "classical" or "laissez-faire" economics, finds its way into the course, except in derogatory terms. In Samuelson's "Economics," basic reading for Ec 1, Ludwig von Mises and Friedrich A. Hayek are relegated to two brief footnotes each (Yes indeed, who are they?). Wilhelm Roepke isn't even mentioned. In one of the sections, Henry Hazlitt was denounced as representative of the most "reactionary" economic views today, fortunately limited only to a "fringe" group. There is practically no analysis this year of Adam Smith, Spencer, Alfred Marshall, W.G. Sumner...
...Published in Capitalism and the Historians, edited by F. A. Hayek (University of Chicago Press...
Author Heilbroner sides with the optimists in his collection (though he leans to the cautious hope of Keynes far more than to the bolder hopes of Adam Smith, as adapted to modern times by Economist Friedrich Hayek). Heilbroner predicts that economics will diminish somewhat as an influence on human affairs, and that morals and politics will reassert themselves more strongly. Capitalism's big problem, he feels, is not really economic, but political-the "problem of establishing itself as the arsenal, not only of production, but also of hope and meaningful freedom to the anonymous hundreds of millions...
...response to a question, von Hayek said he would rather see loopholes in the law, than have agencies and courts "create...
Professor van Hayek will speak on "The Economic Calculus" at 2 p.m. Monday in Littauer Lounge...