"Hayek, Radical Reactionary" is volume four of a series of seven lectures sponsored by Liberty Fund and the Committee on Social Thought at the University of Chicago in celebration of the hundredth anniversary of F. A. Hayek's birth.
Lord Ralph Harris graduated from Cambridge in 1947 and lectured at St. Andrews University until 1957, when he became the General Director of the Institute of Economic Affairs, where Arthur Seldon joined him as Editorial Director in 1958. Together they wrote studies of advertising, hire purchase, state and private welfare, and other applications of classical liberal analysis to public policy, and helped rehabilitate the classical liberal tradition of market microanalysis.

From the mid 1950s to the late 1980s, Ralph Harris and Arthur Seldon, as general director and editorial director respectively of the IEA, battled against a conventional wisdom which was hostile to markets. Eventually, by force of argument, they overcame much of the resistance to market ideas, and in the process established the Institute's formidable influence in shaping both opinion and policy. This Occasional Paper begins with a transcript of a conversation with Harris and Seldon which provides many insights into how they worked and what obstacles they encountered. Eight distinguished scholars, each familiar with the work of the Institute, then provide commentaries which assess its influence on thinking and the challenge to government which it constituted during the Harris/Seldon years.

When Lord Harris of High Cross (Ralph Harris) died in October 2006, at the age of 81, the tributes to him described him as one of the 'men who changed Britain'. Friends and opponents alike acknowledged that Ralph, in his role as General Director of the Institute of Economic Affairs (IEA) and in partnership with his friend, Arthur Seldon, had been instrumental in providing the ideas and the intellectual entrepreneurship that sparked the 'Thatcher revolution' of the 1980s, transforming the British economy from one of the worst performers among developed countries to one of the best. This book selects from Ralph's considerable opus, revealing that economics need not always be a 'dismal science'. Economic analysis was, in the hands of Ralph Harris, deployed to great effect in plain language and with a wit and wisdom that made it fun. Colin Robinson's Introduction places Ralph Harris' work in context and provides an invaluable insight into the author's beliefs and personality. Ralph Harris in His Own Words will be warmly welcomed and read by academics and researchers of economics, politics and the history of ideas as well as those interested in the work of the Institute of Economic Affairs.

The subject of advertising is often treated with indifference by economists and disdain by the public. Indeed, from time-to-time, there have been calls to ban advertising. Though there has been no general ban, advertising has been prohibited in some sectors and further regulation in this field is continually being considered. Given the importance of advertising in political discussion and the lack of evidence regarding its role and effectiveness, Ralph Harris and Arthur Seldon published Advertising in a Free Society in the late 1950s. This seminal work provided a dispassionate and serious analysis of the subject. It concluded that advertising played a positive role in communicating information and building brand loyalty. Interestingly, some of the most dishonest forms of promotion came from politicians. Christopher Snowdon has skillfully abridged Harris and Seldon's work whilst adding important modern insights. Perhaps the most important of these is his critique of the claim that advertising coerces people into acting against their best interests. He also finds that the modern economic literature largely supports Harris and Seldon's view that advertising facilitates competition and lowers prices. This new study is an important work for all interested in public policy as well as for those studying marketing in business schools or as part of a professional qualification.

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When Lord Harris of High Cross (Ralph Harris) died, in October 2006 at the age of 81, the tributes to him described him as one of the 'men who changed Britain'. Friends and opponents alike acknowledged that Ralph, in his role as General Director of the Institute of Economic Affairs (IEA) and in partnership with his friend, Arthur Seldon, had been instrumental in providing the ideas and the intellectual entrepreneurship that sparked the 'Thatcher revolution' of the 1980s, transforming the British economy from one of the worst performers among developed countries to one of the best.This book selects from Ralph's considerable opus, revealing that economics need not always be a 'dismal science'. Economic analysis was, in the hands of Ralph Harris, deployed to great effect in plain language and with a wit and wisdom that made it fun. Colin Robinson's Introduction places Ralph Harris' work in context and provides an invaluable insight into the author's beliefs and personality. This book will be warmly welcomed and read by academics and researchers of economics, politics and the history of ideas as well as those interested in the work of the Institute of Economic Affairs.