O'Reilly logo

The Economics Book by

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

RG

IN CONTEXT

FOCUS

Society and the economy

KEY THINKER

Friedrich Hayek (1899–1992)

BEFORE

1908 Italian economist Enrico Barone shows how a central government planner can replace the free market if it can calculate prices.

1920 Ludwig von Mises refutes Barone’s argument.

1936–37 Oskar Lange argues against von Mises’s position.

AFTER

1970s Hayek’s arguments for free markets gain ground.

1991 US historian Francis Fukuyama says free market capitalism has defeated all possible alternatives.

Late 2000s Criticisms of government bank bailouts prompt a revival of interest in Hayek’s ideas.

Mainstream economics has always had its critics. Its focus on mathematical formulas ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required