Hayek's Divorce and Move to Chicago · Econ Journal Watch
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Qualitative Freedom
Claus Dierksmeier Qualitative Freedom - Autonomy in Cosmopolitan Responsibility Translated by Richard Fincham Qualitative Freedom - Autonomy in Cosmopolitan Responsibility Claus Dierksmeier Qualitative Freedom - Autonomy in Cosmopolitan Responsibility Claus Dierksmeier Institute of Political Science University of Tübingen Tübingen, Baden-Württemberg, Germany Translated by Richard Fincham American University in Cairo New Cairo, Egypt Published in German by Published by Transcript Qualitative Freiheit – Selbstbestimmung in weltbürgerlicher Verantwortung, 2016. ISBN 978-3-030-04722-1 ISBN 978-3-030-04723-8 (eBook) https://doi.org/10.1007/978-3-030-04723-8 Library of Congress Control Number: 2018964905 © The Editor(s) (if applicable) and The Author(s) 2019. This book is an open access publication. Open Access This book is licensed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence and indicate if changes were made. The images or other third party material in this book are included in the book’s Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the book’s Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. -
Front Matter
Cambridge University Press 978-1-107-10912-4 - The “Conspiracy” of Free Trade: The Anglo-American Struggle Over Empire and Economic Globalization, 1846–1896 Marc-William Palen Frontmatter More information The “Conspiracy” of Free Trade Following the Second World War, the United States would become the leading “neoliberal” proponent of international trade liberalization. Yet for nearly a century before, American foreign trade policy had been dominated by extreme economic nationalism. What brought about this pronounced ideological, political, and economic about-face? How did it affect Anglo-American imperialism? What were the repercussions for the global capitalist order? In answering these questions, The “Conspiracy” of Free Trade offers the first detailed account of the con- troversial Anglo-American struggle over empire and economic globali- zation in the mid to late nineteenth century. The book reinterprets Anglo-American imperialism through the global interplay between Victorian free-trade cosmopolitanism and economic nationalism, unco- vering how imperial expansion and economic integration were mired in political and ideological conflict. Beginning in the 1840s, this conspir- atorial struggle over political economy would rip apart the Republican party, reshape the Democratic, and redirect Anglo-American imperial expansion for decades to come. MARC-WILLIAM PALEN is Lecturer in History at the University of Exeter, and a Research Associate at the US Studies Centre, University of Sydney. © in this web service Cambridge University Press www.cambridge.org -
B. Douglas Bernheim
NBER WORKING PAPER SERIES BEQUESTS AS A MEANS OP PAYMENT B. Douglas Bernheim AnclreiShlejfer Lawrence H. Summers Working Paper No. 1303 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 19811 We would like to thank V. Fuchs, M.A. King, J.M.Poterba, R. Vishny, as well as seminar participants at Brown, Harvard, North Carolina State and Stanford for helpful comments. Financial sup-.. portfrom the NSF is gratefully acknowledged. The research reported here is part of the NBER 's researchprogram in Taxation andproject in Pensions. Any opinions expressed are those of the authors and not those of the National Bureau of EconomicResearch. NBER Working Paper #1303 March 1984 Bequests as a Means of Payment ABSTRACT Although recent research suggests that intergenerational transfers play an important role in aggregate capital accumulation, our understanding of bequest motives remains incomplete. We develop a simple model of "exchange—motivated" bequests, in which a testator influences the decisions of his beneficiaries by holding wealth in bequeathable forms and by conditioning the division of bequests on the beneficiaries' actions. The model generates falsifiable empirical predictions which are inconsistent with other theories of intergenerational transfers. We present econometric and other evidence which strongly suggests that bequests are often used as a means of payment for services rendered by beneficiaries. B. Douglas Bernheim Andrei Shleifer Lawrence H. Summers Department of Economics National Bureau of Department of Economics Stanford University Economic Research Littauer Center 229 452 Encina Hall 1050 Massachusetts Avenue Harvard University Stanford, CA 914305 Cambridge, MA 02138 Cambridge, MA 02138 "Tell Ire, try daughters (Since now we will divest us 'both of rule, Interest of territory, cares of state). -
CEPA Center for Economic Policy Research" 1§Panford University
CEPA Cak Atbl /07 Center for Economic Policy Research" 1 1§panford University 1 Discussion Paper Series CEPR This work is distributed as a Policy Paper by the CENTER FOR ECONOMIC POLICY RESEARCH CEPR Publication No. 101 SCIENCE, TECHNOLOGY AND ECONOMIC GROWTH by .:,!Awarzt a;--3131;c7;t77,01*-1 CCULTURAL49NOMICS Nathan Rosenberg r./ORARY Department of Economics Stanford University JUL 01989 February 1987 Center for Economic Policy Research 100 Encina Commons Stanford University Stanford, CA 94305 (415) 725-1874 This paper has been prepared for presentation at the 1987 Annual meeting of the AAAS, Chicago, 14 February 1987. The Center for Economic Policy Research at Stanford University supports research bearing on economic and public policy issues. The CEPR Discussion Paper Series reports on research and policy analysis conducted by researchers affiliated with the Center. Working papers in this series reflect the views of the authors and not necessarily those of the Center for Economic Policy Research or Stanford University. SCIENCE TECHNOLOGY AID ECONOMIC GROUTS Nathan Rosenberg Professor of Economics Stanford University This paper has been prepared for presentation at the 1987 Annual meeting of the AAAS, Chicago, 14 February 1987. My primary concern in this paper will be with certain aspects of the so- called high technology industries that are, I believe, highly relevant to America's economic growth prospects. The most direct way in which these aspects are relevant to economic growth is that they directly affect the country's ability to maintain or to improve its competitiveness in world markets. The term "science" appears in the title of this paper because the high technology industries with which I will be primarily concerned are, by common definition, those in which scientific inputs loom large - whether these inputs are measured in terms of the number of scientifically trained personnel or expenditures upon research and development (R&D). -
Betting on People the Olin Foundation’S Support for Law and Eco- Nomics Was Part of a Larger Success in Public-Policy Philanthropy
4 Betting on People The Olin Foundation’s support for law and eco- nomics was part of a larger success in public-policy philanthropy. The foundation wanted to build up an alternative intellectual infrastructure that could compete with entrenched academic and media elites at generating new ideas for the governance of American society. “What we desperately need in America today is a powerful counterintelligentsia,” wrote longtime Olin president William Simon in his 1978 bestselling book, A Time for Truth. He wanted 50 to bolster thinkers dedicated to “individual liberty...meritocracy...and the free market.... Such an intelligentsia exists, and an audience awaits its views.” Just about every aspect of the Olin Foundation’s philanthropy involved meeting that long-term goal. It was a monumental challenge. Though much of the funder’s grantmaking focused on scholars at col- leges and universities, today left-wing orthodoxies are even more dom- inant on campuses than when the foundation first started to address this problem in the 1970s. Can we consider Olin to have succeeded in fostering fresh thinking that translates into altered public policies? First, it’s important to note that Olin had a few savvy allies in its cause. The earliest efforts in this area were made by the William Volker Fund way back in the 1940s. In 1947, the Volker Fund agreed to help a group of 17 economists fly from the United States to Switzerland for the first meeting of the Mont Pelerin Society, an organization of libertarian economists founded by Friedrich Hayek to promote free markets and refute socialism. -
The Essential Von Mises
The Essential von Mises The Essential von Mises Murray N. Rothbard LvMI MISES INSTITUTE Scholar, Creator, Hero © 1988 by the Ludwig von Mises Institute The Essential von Mises first published in 1973 by Bramble Minibooks, Lansing Michigan Copyright © 2009 by the Ludwig von Mises Institute and published under the Creative Commons Attribution License 3.0. http://creativecommons.org/licenses/ by/3.0/ New matter copyright © 2009 by the Ludwig von Mises Institute Ludwig von Mises Institute 518 West Magnolia Avenue Auburn, Alabama 36832 Mises.org ISBN: 978-1-933550-41-1 Contents Introduction by Douglas E. French . vii Part One: The Essential von Mises 1. The Austrian School. 3 2. Mises and “Austrian Economics”: The Theory of Money and Credit . .13 3. Mises on the Business Cycle . 21 4. Mises in the Interwar Period . 25 5. Mises on Economic Calculation and Socialism . 29 6. Mises on the Methodology of Economics. 31 7. Mises and Human Action . 35 8. Mises in America . .41 9. The Way Out . 45 Part Two: Ludwig von Mises: Scholar, Creator, Hero 1. The Young Scholar . 51 2. The Theory of Money and Credit. 55 3. The Reception of Mises and of Money and Credit . 67 4. Mises in the 1920s: Economic Adviser to the Government . 73 5. Mises in the 1920s: Scholar and Creator . 79 6. Mises in the 1920s: Teacher and Mentor . 91 7. Exile and the New World . 99 8. Coda: Mises the Man . 115 v Introduction he two essays printed in this monograph were written by my Tteacher Murray N. Rothbard (1926–1995) about his teacher Ludwig von Mises (1881–1973). -
CURRICULUM VITAE Arnold C. Harberger 2017 Distinguished
CURRICULUM VITAE Arnold C. Harberger 2017 Distinguished Professor Emeritus, University of California, Los Angeles And Gustavus F. and Ann M. Swift Distinguished Service Professor, Department of Economics, University of Chicago (Emeritus since Oct. 1991) Born: July 27, 1924; Newark, New Jersey Marital Status: Widowed since June 26, 2011 Education Johns Hopkins University, 1941-43 University of Chicago, 1946-49; A.M. (International Relations), 1947 Ph.D. (Economics), 1950 Career Academic Positions Assistant Professor of Political Economy, Johns Hopkins University, 1949-1953 Associate Professor of Economics, University of Chicago, 1953-59 Professor of Economics, University of Chicago, 1959-76 Gustavus F. and Ann M. Swift, Distinguished Service Professor in Economics, University of Chicago, 1977 - 1991 Chairman, Department of Economics, University of Chicago, 1964-71; 1975-1980 Director, Center for Latin American Economic Studies, University of Chicago, 1965 - 1991 Gustavus F. and Ann M. Swift Distinguished Service Professor Emeritus, University of Chicago, 1991 - Professor of Economics, University of California, Los Angeles, 1984 – Distinguished Professor, 1998- Professor Emeritus since December 2014 Temporary Academic Positions Research Assistant, Cowles Commission for Research in Economics, 1949 Visiting Professor, MIT Center for International Studies (New Delhi), 1961-62 Visiting Professor, Harvard University, 1971-72 Visiting Professor, Princeton University, 1973-74 Visiting Professor, University of California, Los Angeles, 1983-84 Professor, -
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7 Pro-Business Policies as Ideology . when I was a young man, only the very old men still believed in the free-market system. When I was in my middle ages I myself and nobody else believed in it. And now I have the pleasure of having lived long enough to see that the young people again believe in it. And that is a very important change. FRIEDRICH VON HAYEK, 19781 Ideologies perform essential political functions of informing the public, mobilising supporters and energising leaders and other activists . An effective ideology will mobilise political supporters to share the general beliefs and goals of a party, interest group or politician. PETER SELF2 In 1947, a group of 37 like-minded people from the US, Britain and Europe – economists, historians and journalists – met in a fashionable resort at Mont Pèlerin in Switzerland. They had been invited there by Friedrich von Hayek, an Austrian-born economic theoretician who worked at the London School of Economics. Hayek’s 1944 book The Road to Serfdom, was said to be ‘the first intellectually respectable defense of free-market doctrine to have appeared in decades’. The book, which argued that government planning leads to dictatorship and that free markets should reign, was republished in condensed form by Reader’s Digest. The Book-of-the-Month Club distributed over a million copies. In it Hayek looked back to the glories of free market England in the 19th century, ignoring the mass poverty and atrocious working conditions of the ‘dark satanic mills’. Nor did he recognize the role of colonies, tariffs, export bounties and government legislation in maintaining this laissez-faire idyll.3 Joining Hayek at Mont Pèlerin was Ludwig von Mises, an Austrian libertarian economist and mentor to Hayek, whose writings at this time were being promoted and disseminated by the Foundation for Economic Education (FEE – see Chapter 4); Leonard Reed who had founded the FEE in the previous year; and Henry Hazlitt, FEE vice-president. -
On the Mechanics of Economic Development*
Journal of Monetary Economics 22 (1988) 3-42. North-Holland ON THE MECHANICS OF ECONOMIC DEVELOPMENT* Robert E. LUCAS, Jr. University of Chicago, Chicago, 1L 60637, USA Received August 1987, final version received February 1988 This paper considers the prospects for constructing a neoclassical theory of growth and interna tional trade that is consistent with some of the main features of economic development. Three models are considered and compared to evidence: a model emphasizing physical capital accumula tion and technological change, a model emphasizing human capital accumulation through school ing. and a model emphasizing specialized human capital accumulation through learning-by-doing. 1. Introduction By the problem of economic development I mean simply the problem of accounting for the observed pattern, across countries and across time, in levels and rates of growth of per capita income. This may seem too narrow a definition, and perhaps it is, but thinking about income patterns will neces sarily involve us in thinking about many other aspects of societies too. so I would suggest that we withhold judgment on the scope of this definition until we have a clearer idea of where it leads us. The main features of levels and rates of growth of national incomes are well enough known to all of us, but I want to begin with a few numbers, so as to set a quantitative tone and to keep us from getting mired in the wrong kind of details. Unless I say otherwise, all figures are from the World Bank's World Development Report of 1983. The diversity across countries in measured per capita income levels is literally too great to be believed. -
SECOND OPEN LETTER to Arnold Harberger and Muton Friedman
SECOND OPEN LETTER to Arnold Harberger and MUton Friedman April 1976 II Milton Friedman and Arnold Harberger: You will recall that, following Harberger's first public visit to Chile after the military coup, I wrote you an open letter on August 6, 1974. After Harberger's second visit and the public announcement of Fried- man's intention to go to Chile as well, I wrote you a postscript on February 24, 1975. You will recall that in this open letter and postscript I began by reminis- cing about the genesis, during the mid-1950's, when I was your graduate student, of the "Chile program" in the Department of Economics at the University of Chicago, in which you trained the so-called "Chicago boys", who now inspire and execute the economic policy of the military Junta in Chile. I then went on to summarize the "rationale" of your and the Junta's policy by quoting Harberger's public declarations in Chile and by citing the Junta's official spokesmen and press. Finally, I examined with you the consequences, particularly for the people of Chile, of the applica- tion by military .force of this Chicago/Junta policy: political repression and torture, monopolization and sell-out to foreign capital, unemployment and starv- ation, declining health and increasing crime, all fos- tered by a calculated policy of political and economic genocide. 56 ECONOMIC GENOCIDE IN CHILE Since my last writing, worldwide condemnation of the Junta's policy has continued and increased, cul- minating with the condemnation of the Junta's violation of human rights by the United Nations General Assembly in a resolution approved by a vast majority including even the United States and with the Junta's condemnation even by the Human Rights Committee of the US-dominated reactionary Organiz- ation of American States. -
Dams Economic Development Institute *;14,P of the World Bank Public Disclosure Authorized the Economic Evaluation of Projects
-I51,5 OoWIc9& *dams Economic Development Institute *;14,P of The World Bank Public Disclosure Authorized The Economic Evaluation of Projects Papersfrom a Curriculum Development Workshiop Public Disclosure Authorized Edited by David G. Davies Public Disclosure Authorized Public Disclosure Authorized EDI LEARNING RESOURCES SERIES EDI LFARNNG RESOURCESSERIES The Economic Evaluation of Projects Papersfrom a Curriculum Development Workshop Edited by David G. Davies The World Bank Washington, D. C. / 1996 The International Bank for Reconstruction and Development / THE WORLD BANK 1818 H Street, N.W. Washington, D.C. 20433, U.S.A. All rights reserved Manufactured in the United States of America First printing July 1996 The Economic Development Institute (EDI) was established by the World Bank in 1955 to train officials concemed with development planning, policymaking, investment analysis, and project implementation in member developing countries. At present the substance of the EDI's work emphasizes macroeconomic and sectoral economic policy analysis. Through a variety of courses, seminars, and workshops, most of which are given overseas in cooperation with local institutions, the EDI seeks to sharpen analytical skills used in policy analysis and to broaden understanding of the experience of individual countries with economic development. Although the EDI's publications are designed to support its training activities, many are of interest to a much broader audience. EDI materials, including any findings, interpretations, and conclusions, are entirely those of the authors and should not be attributed in any manner to the World Bank, to its affiliated organizations, or to members of its Board of Executive Directors or the countries they represent. Because of the informality of this series and to make the publication available with the least possible delay, the manuscript has not been edited as fully as would be the case with a more formal document, and the World Bank accepts no responsibility for errors. -
41 Friedrich August Von Hayek (1899-1992) Ludwig Van Den Hauwe
41 Friedrich August von Hayek (1899-1992) Ludwig Van den Hauwe Biographical note Friedrich August von Hayek, a central figure in twentieth-century economics and a representative of the Austrian tradition, 1974 Nobel laureate in eco- nomics, was born on 8 May 1899, in Vienna, then the capital of the Austro- Hungarian empire. Following military service as an artillery officer in the First World War, Hayek entered the University of Vienna, where he attended the lectures of Friedrich von Wieser and obtained doctorates in jurisprudence (1921) and political science (1923). After spending a year in New York (1923-24), Hayek returned to Vienna where he joined the famous Privatseminar conducted by Ludwig von Mises. In 1927 Hayek became the first director of the Austrian Institute for Business Cycle Research. On an invitation from Lionel Robbins, he delivered four lectures entitled 'Prices and production' at the London School of Economics in 1931 and subsequently accepted the Tooke Chair. He was a vigorous participant in the heated debates that raged in England during the 1930s concerning monetary, capital and business cycle theories. Hayek was to become the only intellectual opponent of John Maynard Keynes (see Caldwell, 1995). As an outgrowth of his participation in the debate over the possibility of economic calculation under socialism (Hayek, 1948 [1980], 119-208), the focus of Hayek's research shifted during the late 1930s and early 1940s to the role of knowledge and discovery in market processes, and to the methodological underpinnings of the Austrian tradition, particularly subjectivism and methodological individu- alism. In 1950, Hayek moved to the United States, joining the Committee on Social Thought at the University of Chicago.