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Subject Area: Political Theory

Books - Leonard P. Liggio, Literature of Liberty, Winter 1982, vol. 5, No. 4 [1982]

Edition used:

Literature of Liberty: A Review of Contemporary Liberal Thought was published first by the Cato Institute (1978-1979) and later by the Institute for Humane Studies (1980-1982) under the editorial direction of Leonard P. Liggio.

Part of: Literature of Liberty: A Review of Contemporary Liberal Thought, 20 vols. 19781-982

About Liberty Fund:

Liberty Fund, Inc. is a private, educational foundation established to encourage the study of the ideal of a society of free and responsible individuals.


Books

B-1 Geldtheorie und Konjunkturtheorie. (Beitrage zur Konjunkturforschung, heraus-gegeben vom Österreichisches Institut für Konjunkturforschung, No. 1). Vienna and Leipzig: Hölder-Pichler-Tempsky, 1929/2, xii, 147 pp. (England 1933, Japan 1935, Spain 1936.) Translated into English by N. Kaldor and H. M. Croome with an “Introduction to the Series, Library of Money and Banking History” by Lionel an “Introduction to the Series, Library of Money and Banking History” by Lionel Robbins as Monetary Theory and the Trade Cycle. London: Jonathan Cape, 1933, 244 pp. American edition, New York: Harcourt Brace & Co., 1933. Reprinted New York: Augustus M. Kelley, 1966. The German first edition of Geldtheorie is described as “Contributions to Trade Cycle Research, published by The Austrian Institute for Trade Cycle Research, No. 1.” This Institute was founded by Ludwig von Mises, and Hayek was its Director from 1927–1931.)

See also foreward and bibliography to the 2nd German edition by Kurt R. Leube, “Vorwort und Bibliographie zur Weiderauflage F. A. Hayek: Geldtheorie und Konjunkturtheorie.” Salzburg: (W. Neugebauer) Philosophia Verlag, 1976. [Hayek's Geldtheorie (1929) together with its English translation (1933) is an expanded version of the paper (A-7a) delivered at a meeting of the Verein für Sozialpolitik, held in Zurich, in September 1928 (See A-7a with annotations). Hayek cites earlier studies as the foundations for his Geldtheorie: A-2a, A-6, A-7a, A-9a, A-13. Hayek presents, from the Austrian School perspective, a critical assessment of rival theories on the cause of trade cycle. He argues that the cause of all significant trade cycle fluctuations are monetary interventions which distort relative price relationships.].

B-2 Prices and Production. (Studies in Economics and Political Science, edited by the director of the London School of Economics and Political Sciences. No. 107 in the series of Monographs by writers connected with the London School of Economics and Political Science.) London: Routledge & Sons, 1931/2, xv, 112 pp. 2nd revised and enlarged edition, London: Routledge & Kegan Paul, 1935/9, also 1967 edition, xiv, 162 pp. American edition, New York: Macmillan, 1932. German edition. Preise und Produktion. Vienna, 1931/2, also 1976 edition. (Japan 1934, China [Taipei] 1966, France 1975).

See also the selected bibliography to the 2nd German edition: Kurt R. Leube, “Ausgewählte Bibliographie zur Wiederauflage F. A. Hayek: Preise und Produktion.” Philosophia Verlag, 1976.

[The 1st edition of Prices (1931) literally reproduced Hayek's four lectures on industrial fluctuations presented at the University of London (LSE) during the session 1930–1931. The “Preface to the Second Edition” of Prices (1935) states how Hayek developed Austrian capital theory following the four lectures. These developments were contained in the 2nd edition and prepared for by A-11a, A-12, A-13, A-14, A-21, A-22, A-23, A-24a, as well as by the first German edition of Preise (1931), the English version (B-1), and A-9a. Economist Sudha R. Shenoy, in an unpublished manuscript, has done a detailed comparative analysis of the differences between the 1931 and 1935 editions of Prices.]

B-3 Monetary Nationalism and International Stability. Geneva, 1937; London: Longmans, Green (The Graduate Institute of International Studies, Geneva, Publication Number 18), 1937, xiv, 94 pp. Reprinted New York: Augustus M. Kelley, 1964, 1971, 1974.

[Revised version of five lectures delivered at the Institute Universitaire de Hautes Études Internationales at Geneva. Hayek surveys the consequence of alternative monetary arrangements, such as gold vs. paper currency and flexible vs. fixed exchange rates.]

B-4 Profits, Interest and Investment: and Other Essays on The Theory on Industrial Fluctuations. London: Routledge & Kegan Paul, 1939/3, viii, 266 pp., also 1969 edition. Reprinted New York: Augustus M. Kelley, 1969, 1970; Clifton, New Jersey: Augustus M. Kelley, 1975.

[Collection of essays, mostly reprints or revised versions of earlier essays, which are attempts “to improve and develop the outline of a Theory of Industrial Fluctuations contained in” B-1 and B-2. The first chapter, “Profits, Interest and Investment” is new; the other chapters are revisions of A-37a, A-27a, A-26, A-19, A-21, A-14, A-9a. Hayek's essays defend the Austrian School's theory of the trade cycle. He argues that monetary interventions cause far-ranging economic distortions that bring about malinvestment and unemployment.]

B-5 The Pure Theory of Capital. London: Routledge & Kegan Paul, 1941/2 (also 1950 edition); Chicago: University of Chicago Press, 1941 (also 1950, 1952 and 1975 editions); xxxi, 454 pp. (Spain 1946, Japan 1951 and 1952).

[Growing out of Hayek's concern for the causes of the trade cycle or industrial fluctuations, this work deals with capital, interest, and time components in the structure of production.]

B-6 The Road to Serfdom. London: George Routledge & Sons, 1944/1945/20 (also 1969 edition); Chicago: University of Chicago Press, 1944/1945/20 (also 1969 edition), 250 pp. (Sweden 1944; France 1945; German version 1945: Der Weg zur Knechtschaft. Zurich 1945/3 (also 1952 edition); the German translation by Eva Röpke is available in paperback from Deutscher Taschenbuch Verlag (Munich, 1976); Denmark, Portugal, and Spain 1946; Netherlands 1948; Italy 1948; Norway 1949; Japan 1954; China [Taipei] 1956/1965/1966; Iceland 1980). Reprinted in two different paperback versions with new Prefaces by F. A. H. Chicago: University of Chicago Press, Phoenix Books, 1956 (see B-13, chapt. 15) and also 1976 paperback edition by University of Chicago Press and Routledge and Kegan Paul.

[Hayek wrote The Road to Serfdom in his “spare time from 1940 to 1943” while he was engaged in pure economic theory. The central argument was first sketched in A-37b (1938) and expanded in P-2 (1939). Hayek's thesis is that social-political planning endangers both political and economic liberties of the individual.]

B-7 Individualism and Economic Order. London: George Routledge & Sons, 1948/5, also 1960, 1976; Chicago: University of Chicago Press, 1948/5, also 1969, 1976, vii, 272 pp. Paperback edition, Chicago: Henry Regnery Co., Gateway edition 1972 (out of print), but now available in a University of Chicago paperback edition; (German edition, Zurich, 1952, Norway [shortened version] 1953, Spain 1968, Netherlands no date.)

See also bibliographic postscript in the German reprint of the 1st edition, Erlenbach-Zurich: 1952: Kurt R. Leube, “Bibliographisches Nachwort zur Wiederauflage F. A. Hayek: Individualismus und wirtschaftliche Ordnung.” Salzburg: Philosophia Verlag, 1977.

[Individualism reprints P-5, A-34, A-49, A-50, E-5 (Chapt. 1: “The Nature of the Problem”), E-5 (Chapt. 5: “The (Present) State of the Debate”), A-41, A-48, A-45, A-38; and some previously unpublished lectures: Chapt. 5: “The Meaning of Competition” and Chapt. 6 “‘Free’ Enterprise and Competitive Order.” These articles and speeches sound the Hayekian warning against economic and social planning.]

B-8 John Stuart Mill and Harriet Taylor: Their Friendship and Subsequent Marriage. London: Routledge & Kegan Paul, 1951/1969; Chicago: University of Chicago Press, 1951/1969, 320 pp.

[During the 1920s the Mill-Taylor correspondence became available for scholarly assessment of how much ideological influence Harriet Taylor exerted on the political, economic, and social ideas of her intimate friend and eventual husband, John Stuart Mill. Hayek's volume presenting their correspondence allows the reader to judge the nature of their relationship.]

B-9 The Counter-Revolution of Science: Studies on the Abuse of Reason. Glencoe, Illinois: The Free Press, 1952, 255 pp; new edition New York, 1964; 2nd edition with 1959 Preface to German edition, Indianapolis, Indiana: Liberty Press, 1979, also available in Liberty Press paperback. (Germany 1959, Frankfurt am Main edition published under the title Missbrauch und Verfall der Vernunft or “The Abuse and Decline of Reason”; German reprint of Frankfurt edition, Salzburg: Philosophia Verlag, 1979; France excerpts, 1953; Italy 1967.)

[The two major sections of this volume first appeared as articles in Economica as A-46 (1942–1944) and A-42 (1941), respectively: the third study first appeared as A-70 (1951). Hayek analyzes the intellectual origins of social planning and engineering. Topics covered include: scientism and the methodology of studying society, collectivism, historicism, non-spontaneous or rationalistic social planning, as well as the role of Saint-Simon, Comte, and Hegel in legitimizing scientistic sociology.]

B-10 The Sensory Order: An Inquiry into the Foundations of Theoretical Psychology. London: Routledge & Kegan Paul, 1952; Chicago: University of Chicago Press, 1952, xxii, 209 pp; new edition 1963/1976. Reprinted Chicago: University of Chicago Press, Phonenix Book paperback, 1963 (out of print). University of Chicago Press has reissued the paperback in a Midway Reprint, 1976, with the Heinrich Klüver Introduction.

[Though published in 1952, the “whole principle” of The Sensory Order was conceived 30 years earlier by Hayek in a draft of a student paper composed around 1919–1920, while he was still uncertain whether to become a psychologist or an economist. Three decades later his concern about the logical character of social theory led him to reexamine favorably his youthful conclusions on certain topics of epistemology and theoretical psychology: concepts of mind, classification, and the ordering of our mental and sensory world. In his 1952 Preface Hayek acknowledges his indebtedness “particularly” to Ernst Mach and his analysis of perceptual organization.]

B-11 The Political Ideal of the Rule of Law. Cairo: National Bank of Egypt, Fiftieth Anniversary Commemorative Lectures, 1955, 76 pp. [Publication of four lectures Hayek delivered at the invitation of the National Bank of Egypt. These essays form a historical survey of the evolution of freedom and the rule of law in Britain, France, Germany, and America.]

[Reprinted in a revised, edited, and abridged format as Chapters 11 and 13 - 16 of Hayek's B-12; Chapters 11 and 16 of the B-12 version were reprinted under the title, The Rule of Law. Menlo Park, California: Institute for Humane Studies (Studies in Law, No. 3), 1975.]

B-12 The Constitution of Liberty. London: Routledge and Kegan Paul, 1960; Chicago: University of Chicago Press, 1960/1963/5 (also 1969 edition); Toronto: The University of Toronto Press, 1960, x, 570 pp. Also available in paperback: Chicago: Henry Regnery Co. Gateway Edition, 1972.

German translation: Die Verfassung der Freiheit. Tübingen: Walter Eucken Institut (Wirtschaftswissenschaftliche und wirtschaftrechtliche Untersuchungen No. 7), [J. C. B. Mohr/P. Siebeck], 1971. (Spain 1961, Italy 1971, China [Taipei] 1975). [Hayek composed the Preface of The Constitution of Liberty on his 60th birthday (May 8, 1959). He intended this survey of the ideals of freedom in Western civilization to commemorate the centenary of John Stuart Mill's On Liberty (1859). In “Acknowledgments and Notes” he describes the various preliminary drafts and versions he incorporated into this volume; also see B-11. Hayek stresses the working of the liberal, spontaneous order of society, which is too complex to be subjected to social planning and engineering.]

B-13 Studies in Philosophy, Politics and Economics. London: Routledge & Kegan Paul, 1967/1969; Chicago: University of Chicago Press, 1967/1969; Toronto: University of Toronto Press, 1967/1969; x, 356 pp. Reprinted in paperback New York: Simon and Schuster Clarion Book, 1969.

[This volume of 25 essays contains reprints of articles and speeches by F. A. H. as well as previously unpublished writing and speeches over a 20-year period preceding 1967. Reprints (often revised) include: A-76, A-102, A-103b, A-112, A-108, A-115, A-65, A-68, A-99a, etc. Consult volume to determine other essays published for the first time. The scope of topics includes essays on epistemology, history of ideas, specialization, Hume, spontaneous order, the liberal social order, the transmission of liberal economic ideas, and a variety of other topics on philosophy, politics, and economics.]

B-14 Freiburger Studien. Gesammelte Aufsätze. Tübingen: Walter Eucken Institut (Wirtschaftswissenschaftliche und wirtschaftsrechliche Untersuchungen 5) J.C.B. Mohr/P. Siebeck, 1969, 284 pp.

[“Freiburg Studies. Collected Essays.” German anthology of Hayek's essays. Contains German versions of such items as P-9 and P-10.]

B-15 Law, Legislation and Liberty: A New Statement of the Liberal Principles of Justice and Political Economy, Vol. I, Rules and Order. London: Routledge & Kegan Paul; Chicago: University of Chicago Press, 1973, xi, 184 pp.

A trilogy published in the following sequence:

  • Vol. I, Rules and Order, 1973
  • Vol. II, The Mirage of Social Justice, 1976
  • Vol. III, The Political Order of a Free People, 1979

These volumes are also available in paperback, Phoenix Books editions of the University of Chicago Press. A French translation, Droit, Législation et Liberté, is available from Presses Universitaires de France in the Collection Libre Échange, edited by Florian Aftalion and Georges Gallais-Hamonno.

[Vol. I distinguishes between liberal spontaneous order (‘cosmos’) and planned or engineered, rationalistic social orders (‘taxis’). Hayek also traces the changing concept of law, principles vs. expediency in politics, and the ‘law of legislation’.]

B-16 Law, Legislation and Liberty: A New Statement of the Liberal Principles of Justice and Political Economy, Vol. II, The Mirage of Social Justice. London: Routledge & Kegan Paul; Chicago: University of Chicago Press, 1976, xiv, 195 pp.

[Vol. II outlines the meaning of justice in the free, liberal social order, critiques the notion of 'social’ or distributive justice, and contrasts it with the market order or ‘catallaxy’, the regime of the Open Society.]

B-17 New Studies in Philosophy, Politics, Economics and the History of Ideas. London: Routledge & Kegan Paul, 1978; Chicago: University of Chicago Press, 1978. [This volume of 20 essays supplements Hayek's earlier Studies (B-13) by reprinting in a more accessible form some of his earlier articles and unpublished lectures not reprinted in Studies. Reprints include P-11a, P-9, A-121, P-10, A-127, P-9, A-131a, A-136a, A-116, A-113. Consult New Studies for titles of essays not previously published. Ranging over themes from philosophy, politics, economics, and the history of ideas, Hayek analyzes such topics as constructivism, the ‘atavism of social justice’, liberalism, the dangers of economic planning, and the ideas of Mandeville, Smith, and Keynes. Chapter 2 reprints his 1974 Nobel Prize speech, “The Pretence of Knowledge.”]

B-18 Law, Legislation and Liberty: A New Statement of the Liberal Principles of Justice and Political Economy, Vol. III, The Political Order of a Free People. London: Routledge & Kegan Paul; Chicago: University of Chicago Press, 1979, xv, 244 pp. [Vol. III concludes Hayek's trilogy. Hayek exposes the weakness inherent in most forms of democratic government and outlines his alternative constitutional, political, and legal arrangements to create a democratic order that would be consistent with the free society. The Epilogue, “The Three Sources of Human Values,” reprints Hayek's Hobhouse Lecture delivered at the London School of Economics, May 17, 1978.]