Austrian Economics in Debate [Paperback]

This book presents essays by an outstanding team of international specialists and covers a wide range of topics, including (inter alia) the relationships between the Austrian and Swedish theories of the business cycle, the on-going debates between Austrians and (Post) Keynesians, Schumpeter's 'Walrasian' stand in the socialist calculation debate, and the Austrian roots of Neo-Institutional economics. The studies stress the unique Austrian contributions to economic methodology and to the theory of entrepreneurship, while revealing unexpected methodological and philosophical similarities between, among others, Hayek and Marx.This volume demonstrates how the Austrian challenge, and the debates it inspires, can continue to benefit contemporary developments in micro- and macroeconomic theory, and can offer insights into other schools of thought.Willem Keizer, Bert Tieben, Rudy Van ZijpNotes on contributors, 1 Introduction: Austrian Economics in Debate, 2 Austrian Themes in a Reconstructed Macroeconomics, 3 Money, Economic Fluctuations, Expectations and Period analysis: The Austrian and Swedish Economists in the Interwar Period, 4 Schumpeter's Walrasian Stand in the Socialist Calculation Debate, 5 Misunderstandings and Other Coordination Failures in the Hayek-Keynes Controversy, 6 Critical Realism: Marx and Hayek, 7 Austrian Economics and the Abandonment of the Classic Thought Experiment, 8 The Theory of Entrepreneurship in Austrian Economics, 9 Entrepreneurship, Interdependency and Institutions: The Comparative Advantages of the Austrian and Post-Keynesian Styles of Thought, 10 Hayek and Rational Expectations, 11 On Austrian and Neo-Institutionalist Economics, 12 Private Information, Contractual Arrangements and Hayek's Knowledge Problem, IndexUS? 1997 Willem Keizer, Bert Tieben and Rudy van Zijp, selection and editorial matter; individual chapters, the contributors