For a New Liberty: The Libertarian Manifesto
Economic Depressions: Their Cause and Cure
We live in a world of euphemism. Undertakers have become “morticians,” press agents are now “public relations counsellors” and janitors have all been transformed into “superintendents.” In every walk of life, plain facts have been wrapped in cloudy camouflage.
No less has this been true of economics. In the old days, we used to suffer nearly periodic economic crises, the sudden onset of which was called a “panic,” and the lingering trough period after the panic was called “depression.”
Economic Depressions: Their Cause and Cure
A Critique of Interventionism
Preface
The Occasional Papers are intended to make essays or addresses, of outstanding importance, accessible to a wider readership than that to which they were originally addressed. The 47 so far have included Papers by some of Britain’s, and the world’s, leading economists but also some important Papers by less well-known names.
The Author
Friedrich August Hayek, Dr Jur, Dr Sc Pol (Vienna), DSc (Econ.) (London), Visiting Professor at the University of Salzburg, Austria, 1970–74. Educated at the University of Vienna, Director of the Austrian Institute for Economic Research, 1927–31, and Lecturer in Economics at the University of Vienna, 1929–31. 1931–50 Tooke Professor of Economic Science and Statistics, University of London. 1950–62 Professor of Social and Moral Science, University of Chicago. Professor of Economics, University of Freiburg i.Brg., West Germany, 1962–68.
A Comment on Keynes, Beveridge, and Keynesian Economics
Lord Keynes has always appeared to me a kind of new John Law. Like Law, Keynes was a financial genius who made some real contributions to the theory of money.
Commentaries
Ivor Pearce
Professor of Economics and Head of Department, University of Southampton, 1962–72
Director of Research, Econometric Model Building Unit, University of Southampton, 1973–75
Author of A Model of Output, Employment, Wages and Prices in the UK (1976)
Government Monopoly of Money in Theory and History
Compiled and introduced by Sudha Shenoy
Lecturer in Economics, University of Newcastle, New South Wales, 1973–74
Lecturer in Economics, Cranfield School of Management, 1974
And A Portent...?
Currency option for foreign creditors20
The House of Lords decided yesterday that foreign creditors should not suffer in English courts from the combination of sterling’s falling exchange rate and the ancient procedural rule that English courts can award money payments only in sterling.
