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Source link: http://archive.mises.org/8794/hayeks-legacy/

Hayek’s Legacy

October 17, 2008 by

Hayek’s ideas, writes Danny Quah of the London School of Economics, are seamlessly intertwined with so much of modern academic economics that, indeed, practically everyone in the profession has come into contact with or uses (lowercase) hayekian insights. What this does for intellectual history is likely unfortunate. But, on the other hand, it might be the ultimate accolade for Friedrich Hayek, an intellectual concerned with ideas and knowledge, and their use for good in society. FULL ARTICLE

{ 3 comments }

fundamentalist October 17, 2008 at 8:41 am

I couldn’t agree more. But I’m wondering why “Profit,s Interest, and Investment” wasn’t included. In fact, it’s hard to find. I think it really helps clarify “Prices and Production” and is the best statement of the mechanics of the business cycle.

Jeffrey Tucker October 17, 2008 at 9:26 am

The book in fact includes large parts of PII.

Jesse Giangioppi October 17, 2008 at 4:16 pm

Dear Mr. Editor,

I humbly ask that you or an economist or social scientist in your organisation would kindly comment on what I consider the misuse of the word credit by financial institutions the world over. I could think of no better organization than yours to put my views across on the matter.

The financial community long ago understood the effectiveness of using a simple word called credit in replacement for the word debt.

In doing so, it has giving to believe that one is creditworthy as, for instance one who contributes an excellent idea if granted a loan.

This attitude, in my humble opinion has largely contributed to the monumental world wide economic crisis in the world today and as such it is time that we begin the call a spade, a spade and stop using the word credit when we mean debt.

Again, I would welcome if you, Mr. Editor, or one of your organisation’s experts (whether in agreement or not), would care to comment on the matter.

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