The paper deals with Hayek's ideas concerning transition between different 'structures of production' and argues that while these ideas are of interest, they are fundamentally flawed. The relationships between Hayek's cycle theory and (a) Keynes and (b) Robert Lucas are also examined.

Presents a critical analysis of Hayek in the light of modern computability and economic computability theory.

It is widely believed that the rate of profit across industrial sectors, while not in fact uniform as stipulated in the theory of prices of production, is independent of the sectoral organic composition of capital. It follows that the simple labour theory of value must be systematically in error...

This paper examines two aspects of Hayek's business cycle theory in the early 1930s: his methodological approach to the analysis of the cycle, and his substantive analysis of the role of changes in the 'structure of production' over the course of the cycle. The examination of the first aspect is...

The paper criticizes Basil Moore's contention (in his 1988 book, "Horizontalists and Verticalists") that the theory of endogenous money invalidates the 'traditional' Keynesian idea of the multiplier.

The results of recent analyses of interest rate pegging, in the context of macromodels incorporating rational expectations, stand in marked contrast to the classic Wicksellian conclusions. This paper examines this discrepancy. It is argued that the contrast is by no means wholly to the...

Problems are identified with the transcendental argument that Lawson uses to make a case for realism in economics: this argument relies heavily upon an unproblematized conception of Free Will. Lawson's substantive conclusions are not vitiated, but the argument presented here suggests that he...