Four talks on Keynes in relation to the Bloomsbury Group: I. Maynard Keynes of Bloomsbury (Craufurd Goodwin); II. Keynes as Policy Advisor (E. Roy Weintraub); III. Keynes and Economics (Kevin D. Hoover); IV. Keynes and Hayek (Bruce Caldwell). The talks were delivered as part of roundtable...

Four talks on Keynes in relation to the Bloomsbury Group: I. Maynard Keynes of Bloomsbury (Craufurd Goodwin); II. Keynes as Policy Advisor (E. Roy Weintraub); III. Keynes and Economics (Kevin D. Hoover); IV. Keynes and Hayek (Bruce Caldwell). The talks were delivered as part of roundtable...

Four talks on Keynes in relation to the Bloomsbury Group: I. Maynard Keynes of Bloomsbury (Craufurd Goodwin); II. Keynes as Policy Advisor (E. Roy Weintraub); III. Keynes and Economics (Kevin D. Hoover); IV. Keynes and Hayek (Bruce Caldwell). The talks were delivered as part of roundtable...

It is generally accepted that F.A. Hayek gave up the business cycle as an object of theoretical investigation following the publication of 1941's The Pure Theory of Capital. The present paper aims to cast a shade of doubt upon this received view. Many of Hayek's philosophical writings bear...

Abstract: In Hayek's early writings on business cycle theory and the Great Depression he argued that business cycle downturns including the steep downturn of 1929-31 were caused by unsustainable elongations of capital structure of the economy resulting from bank-financed investment in excess of...

This paper translates F.A. Hayek's informal capital theory into a dynamic equilibrium model. The focus is restricted to Hayek's largely unrecognized contribution in "Utility Analysis and Interest", published by The Economic Journal in 1936, being restated in "The Pure Theory of Capital", first...

The business cycle theory of Friedrich A. Hayek offers an explanation for the onset of the Great Depression that is more complete than those of his contemporaries, including Gustav Cassel. Hayek sought to explain why the boom of the 1920s ended in the bust of 1929. In the 1930s, Hayek's theory...

We revisit the origins of the Great Depression by contrasting the accounts of two contemporary economists, Friedrich A. Hayek and Gustav Cassel. Their distinct theories highlight important, but often unacknowledged, differences between the international depression and the Great Depression in the...

Generating verisimilous and policy-relevant models of the macroeconomy in a democracy is a challenge. Three broad theoretical perspectives are considered: (A) the orthodox Keynesian Synthesis; (B) the Austrian response; and (C) the Public Choice response. The orthodox view is inaccurate, but has...

In diesem Beitrag werden die Grundzüge der Überinvestitionstheorien von Hyman Minsky auf der einen und die von v. Hayek/Garrison auf der anderen Seite zunächst in den „Sprachen“ der Originalbeiträge herausgearbeitet. Anschließend wird ihr möglicher Erklärungsbeitrag für die aktuelle...