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The essays collected in this volume are a selection from the various attempts made to develop the outline of a theory of industrial fluctuations contained in two of Hayek’s books on Monetary Theory and the Trade Cycle and Prices and Production.
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F. A. Hayek (1899–1992) is undoubtedly the most eminent of the modern Austrian economists, and a founding board member of the Mises Institute. Student of Friedrich von Wieser, protégé and colleague of Ludwig von Mises, and foremost representative of an outstanding generation of Austrian School theorists, Hayek was more successful than anyone else in spreading Austrian ideas throughout the English-speaking world. He shared the 1974 Nobel Prize in Economics with ideological rival Gunnar Myrdal ”for their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena.” Among mainstream economists, he is mainly known for his popular The Road to Serfdom (1944).
Hoy hace cincuenta años, el 11 de diciembre de 1974, F.A. Hayek pronunció su conferencia Nobel en Suecia. El conflicto entre lo que el público espera que la ciencia consiga para satisfacer las esperanzas populares y lo que realmente está en su mano es un asunto grave.
Las leyes de curso legal crean privilegios especiales para el dinero del gobierno. Eso acaba con la verdadera competencia monetaria y favorece el poder de monopolio del Estado.
El uso indebido de la ciencia se produce cuando el científico —que es competente en un campo especial— trata de utilizar su estatus para influir en campos en los que no es competente.
Augustus M. Kelley, Publishers, Clifton, 1975
