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Hayek gives the main arguments for the free-market case and presents his manifesto on the "errors of socialism." Hayek argues that socialism has, from its origins, been mistaken on factual, and even on logical, grounds and that its repeated failures in the many different practical applications of socialist ideas that this century has witnessed were the direct outcome of these errors. He labels as the "fatal conceit" the idea that "man is able to shape the world around him according to his wishes." "The achievement of The Fatal Conceit is that it freshly shows why socialism must be refuted rather than merely dismissed—then refutes it again."—David R. Henderson, Fortune. "Fascinating. . . . The energy and precision with which Mr. Hayek sweeps away his opposition is impressive."—Edward H. Crane, Wall Street Journal F. A. Hayek is considered a pioneer in monetary theory, the preeminent proponent of the libertarian philosophy, and the ideological mentor of the Reagan and Thatcher "revolutions."
This tenth part of Robert Leeson's collaborative biography of Friedrich August von Hayek explores Hayek’s thought on the free market and democracy. Using an unparalleled array of archival materials, Leeson reconstructs Hayek’s thinking as the notorious economist and his acolytes set about reshaping the post-war economic order. Darker areas of Hayek’s thought are also explored, including the influence of eugenics on his thought and his support for radical right-wing dictatorships in South America. Leeson concludes this volume with a collection of chapters written by eminent scholars of Hayek. These chapters cover subjects as diverse as Hayek’s influence on scholars of Darwinian evolution, his views on psychology, and cultural evolution.
This book asks a fundamental question, that is, whether "somebody in charge" could have prevented or solved the problem leading up to our current financial crisis. This book explores and answers that question from a scholarly and academic economic viewpoint.
This volume makes the case for the fair treatment of female migrant workers from the global South who are employed in wealthy liberal democracies as care workers, domestic workers, home health workers, and farm workers. An international panel of contributors provide analyses of the ethical, political, and legal harms suffered by female migrant workers, based on empirical data and case studies, along with original and sophisticated analyses of the complex of systemic, structural factors responsible for the harms experienced by women migrant workers. The book also proposes realistic and original solutions to the problem of the unjust treatment of women migrant workers, such as social security systems that are transnational and tailored to meet the particular needs of different groups of international migrant workers.
Stanford University student and Cuban American tennis prodigy Ramon Fernandez is outraged when a nearby mega-store hikes its prices the night of an earthquake. He crosses paths with provost and economics professor Ruth Lieber when he plans a campus protest against the price-gouging retailer--which is also a major donor to the university. Ruth begins a dialogue with Ramon about prices, prosperity, and innovation and their role in our daily lives. Is Ruth trying to limit the damage from Ramon's protest? Or does she have something altogether different in mind? As Ramon is thrust into the national spotlight by events beyond the Stanford campus, he learns there's more to price hikes than meets the eye, and he is forced to reconsider everything he thought he knew. What is the source of America's high standard of living? What drives entrepreneurs and innovation? What upholds the hidden order that allows us to choose our careers and pursue our passions with so little conflict? How does economic order emerge without anyone being in charge? Ruth gives Ramon and the reader a new appreciation for how our economy works and the wondrous role that the price of everything plays in everyday life. The Price of Everything is a captivating story about economic growth and the unseen forces that create and sustain economic harmony all around us.
This critical and thought-provoking book explores the causes and consequences of Europe's failed political and economic institutions. Europe's recession has created new challenges as market turmoil has shaken the foundations of the twin pillars of the new drive for European integration - political and monetary unions. This book critically assesses the patchwork solutions continually offered to hold the troubled unions together. Failed political policies, from the prodigious 'Common Agricultural Policy' to ever more common fiscal stimulus packages, are shown to have bred less than stellar results in the past, and to have devastating implications for future European growth. The contributors outline the manner through which European monetary union has subsidized and continues to exacerbate the burgeoning debt crisis. Most strikingly, the interplay between Europe's political and economic realms is exposed as the boondoggle it is, with increasingly bureaucratic institutions plaguing the continent and endangering future potential. Combining political and economic analysis, this comprehensive book will prove essential for researchers and students in international business and macroeconomics. Educated laymen wanting a keener perspective on Europe's recession will also find this book to be invaluable.

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