Economics as a Coordination Problem: The Contributions of Friedrich A. Hayek
By Gerald P. O'Driscoll
Axel Leijonhufvud first suggested to me that reexamining Hayek’s contributions might be worthwhile. From the start, I sensed that Hayek’s theories were misunderstood in important respects. One major reason was the tidal wave of the Keynesian revolution. Contributing to the eager acceptance of Keynes’s message was a desperate desire for a cure for the economic ills of the Great Depression…. [From the Introduction]
First Pub. Date
Kansas City: Sheed Andrews and McMeel, Inc.
Foreword by Friedrich A. Hayek.
The text of this edition is copyright © 1977, The Institute for Humane Studies.
Professor Gerald Patrick O’Driscoll, Jr., was born in 1947 and was graduated from Fordham University summa cum laude in 1969. He was awarded an M.A. in 1971 and a Ph.D. in economics in 1974 from the University of California at Los Angeles. his several areas of specialization include monetary theory, capital theory, law and economics, and the history of economic thought. His article, “The American Express Case: Public Good or Monopoly?” appeared in the
Journal of Law and Economics (1976). Recently his statement of “The Ricardian Nonequivalence Theorem” appeared in the
Journal of Political Economy (1977), and his article on “The Specialization Gap and the Ricardo Effect: Comment on Ferguson” was published in
History of Political Economy (1975). He is a frequent contributor to symposium volumes; an essay on stagflation coauthored with Sudha Shenoy was published in
Foundations of Modern Austrian Economics, one of the volumes in “Studies in Economic Theory.”
Currently O’Driscoll is editing a volume of essays on Adam Smith’s
Wealth of Nations to be published by the Iowa State University Press in 1978. At present he is serving as Assistant Professor of Economics at Iowa State University. He formerly taught at UCLA and at the University of California at Santa Barbara.