The Trend of Economic Thinking

“[A] history of economics from the times of Adam Smith, to [Hayek’s] own contemporary times where capitalism and communism were at each other’s throats.” — Midwest Book Review The Iron Curtain has been cast aside. The Berlin Wall has fallen. Germany has been reunited. And F. A. Hayek’s forceful predictions of the inevitable failure of socialism and central economic planning are now rendered irrefutable. Yet Hayek still rightfully cautions us to heed his arguments, warning that “in economics you