Overview

Full Product Details

9781780237305

Table of Contents

Reviews

The shock of the Great Depression led to intellectual tumult as economists tried to understand the causes and recommend responses. To Keynes, economic narrative offered a better approach than mathematics; to Hayek, the problem was too little abstraction. To Keynes, people could work together within the framework of the state; to Hayek, the answer was to operate within the free market. The shock of the Great Recession has not had the same impact on economics, with mathematical modeling remaining in the ascendant, and the state more often seen as the disease than the cure. Hoerber's analysis of these two giants of the history of economics makes us reflect on the crisis of our own time as much as on the world they inhabited. --Martin Daunton, University of Cambridge The similarities Hoerber finds between Hayek and Keynes are illuminating. Hoerber emphasizes each man's reliance on narrative to explain his ideas. The degree to which many economists equate economics with the use of mathematical formulae was deeply regretted by Hayek, and would horrify Keynes. --Samuel Gregg Claremont Review of Books Where Hoerber is correct is when he asserts that the great differences between Keynes and Hayek are relevant to today's world. --Richard Vedder Wall Street Journal

The shock of the Great Depression led to intellectual tumult as economists tried to understand the causes and recommend responses. To Keynes, economic narrative offered a better approach than mathematics; to Hayek, the problem was too little abstraction. To Keynes, people could work together within the framework of the state; to Hayek, the answer was to operate within the free market. The shock of the Great Recession has not had the same impact on economics, with mathematical modeling remaining in the ascendant, and the state more often seen as the disease than the cure. Hoerber's analysis of these two giants of the history of economics makes us reflect on the crisis of our own time as much as on the world they inhabited. --Martin Daunton, University of Cambridge

Author Information

Thomas Hoerber is Professor in European Studies at ESSCA School of Management in Angers, France. He is the author of five books, including The Foundations of Europe (2006) and European Space Policy: European Integration and the Final Frontier (2015).

Tab Content 6

Customer Reviews

Recent Reviews

Countries Available