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Hayek's Challenge (Paperback, New edition)
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Hayek's Challenge (Paperback, New edition)
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Friedrich A. Hayek is regarded as one of the preeminent economic
theorists of the twentieth century, as much for his work outside of
economics as for his work within it. During a career spanning
several decades, he made contributions in fields as diverse as
psychology, political philosophy, the history of ideas, and the
methodology of the social sciences. Bruce Caldwell--editor of "The
Collected Works of F. A. Hayek"--understands Hayek's thought like
few others, and with this book he offers us the first full
intellectual biography of this pivotal social theorist.
Caldwell begins by providing the necessary background for
understanding Hayek's thought, tracing the emergence, in
fin-de-siecle Vienna, of the Austrian school of economics--a
distinctive analysis forged in the midst of contending schools of
thought. In the second part of the book, Caldwell follows the path
by which Hayek, beginning from the standard Austrian assumptions,
gradually developed his unique perspective on not only economics
but a broad range of social phenomena. In the third part, Caldwell
offers both an assessment of Hayek's arguments and, in an epilogue,
an insightful estimation of how Hayek's insights can help us to
clarify and reexamine changes in the field of economics during the
twentieth century.
As Hayek's ideas matured, he became increasingly critical of
developments within mainstream economics: his works grew
increasingly contrarian and evolved in striking--and sometimes
seemingly contradictory--ways. Caldwell is ideally suited to
explain the complex evolution of Hayek's thought, and his analysis
here is nothing short of brilliant, impressively situating Hayek in
a broader intellectual context, unpacking the often difficult turns
in his thinking, and showing how his economic ideas came to inform
his ideas on the other social sciences.
"Hayek's Challenge" will be received as one of the most important
works published on this thinker in recent decades.
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