Business Cycles: Part I (The Collected Works of F. A. Hayek #7) (Hardcover)
Not currently in store. May be available on Bookshop.org.
Find us on Bookshop.org to order!
Other Books in Series
This is book number 7 in the The Collected Works of F. A. Hayek series.
- #1: The Fatal Conceit: The Errors of Socialism (The Collected Works of F. A. Hayek #1) (Paperback): Not currently in store. May be available on Bookshop.org.
- #2: The Road to Serfdom: Text and Documents--The Definitive Edition (The Collected Works of F. A. Hayek #2) (Paperback): Not currently in store. May be available on Bookshop.org.
- #4: The Fortunes of Liberalism: Essays on Austrian Economics and the Ideal of Freedom (The Collected Works of F. A. Hayek #4) (Paperback): Not currently in store. May be available on Bookshop.org.
- #5: Good Money, Part 1: The New World (The Collected Works of F. A. Hayek #5) (Hardcover): Not currently in store. May be available on Bookshop.org.
- #6: Good Money, Part 2: The Standard (The Collected Works of F. A. Hayek #6) (Hardcover): Not currently in store. May be available on Bookshop.org.
- #8: Business Cycles: Part II (The Collected Works of F. A. Hayek #8) (Hardcover): Not currently in store. May be available on Bookshop.org.
- #10: Socialism and War: Essays, Documents, Reviews (The Collected Works of F. A. Hayek #10) (Hardcover): Not currently in store. May be available on Bookshop.org.
- #11: Capital and Interest (The Collected Works of F. A. Hayek #11) (Hardcover): Not currently in store. May be available on Bookshop.org.
- #12: The Pure Theory of Capital (The Collected Works of F. A. Hayek #12) (Paperback): Not currently in store. May be available on Bookshop.org.
- #13: Studies on the Abuse and Decline of Reason: Text and Documents (The Collected Works of F. A. Hayek #13) (Hardcover): Not currently in store. May be available on Bookshop.org.
- #14: The Sensory Order and Other Writings on the Foundations of Theoretical Psychology (The Collected Works of F. A. Hayek #14) (Hardcover): Not currently in store. May be available on Bookshop.org.
- #15: The Market and Other Orders (The Collected Works of F. A. Hayek #15) (Paperback): Not currently in store. May be available on Bookshop.org.
- #16: Hayek on Mill: The Mill-Taylor Friendship and Related Writings (The Collected Works of F. A. Hayek #16) (Hardcover): Not currently in store. May be available on Bookshop.org.
- #17: The Constitution of Liberty: The Definitive Edition (The Collected Works of F. A. Hayek #17) (Hardcover): Not currently in store. May be available on Bookshop.org.
- #18: Essays on Liberalism and the Economy, Volume 18 (The Collected Works of F. A. Hayek #18) (Hardcover): Not currently in store. May be available on Bookshop.org.
- #19: Law, Legislation, and Liberty, Volume 19 (The Collected Works of F. A. Hayek #19) (Paperback): Not currently in store. May be available on Bookshop.org.
Description
In the years following its publication, F. A. Hayek’s pioneering work on business cycles was regarded as an important challenge to what was later known as Keynesian macroeconomics. Today, as debates rage on over the monetary origins of the current economic and financial crisis, economists are once again paying heed to Hayek’s thoughts on the repercussions of excessive central bank interventions. The latest editions in the University of Chicago Press’s ongoing series The Collected Works of F. A. Hayek, these volumes bring together Hayek’s work on what causes periods of boom and bust in the economy. Moving away from the classical emphasis on equilibrium, Hayek demonstrates that business cycles are generated by the adaptation of the structure of production to changes in relative demand. Thus, when central banks artificially lower interest rates, the result is a misallocation of capital and the creation of asset bubbles and additional instability. Business Cycles, Part I contains Hayek’s two major monographs on the topic: Monetary Theory and the Trade Cycle and Prices and Production. Reproducing the text of the original 1933 translation of the former, this edition also draws on the original German, as well as more recent translations. For Prices and Production, a variorum edition is presented, incorporating the 1931 first edition and its 1935 revision. Business Cycles, Part II assembles a series of Hayek’s shorter papers on the topic, ranging from the 1920s to 1981. In addition to bringing together Hayek’s work on the evolution of business cycles, the two volumes of Business Cycles also include extensive introductions by Hansjoerg Klausinger, placing the writings in intellectual context—including their reception and the theoretical debates to which they contributed—and providing background on the evolution of Hayek’s thought.
About the Author
F. A. Hayek (1899–1992), recipient of the Presidential Medal of Freedom in 1991 and co-winner of the Nobel Prize in Economics in 1974, was a pioneer in monetary theory and a leading proponent of classical liberalism in the twentieth century. He taught at the University of Vienna, University of London, University of Chicago, and University of Freiburg.
Hansjoerg Klausinger is associate professor emeritus in the Department of Economics at WU Vienna University of Economics and Business.
Praise For…
“The two Business Cycles volumes bring together some of Hayek’s most substantial contributions to technical economics—and on a topic of enduring interest. The finely crafted introductions by the editor, Hansjoerg Klausinger, add both importance and interest to the volumes.”
— Roger W. Garrison, Auburn University