Overview

In the years following its publication, F A Hayeks pioneering work on business cycles was regarded as an important challenge to what was later known as Keynesian macroeconomics. Today, as debates rage on over monetary origins of the current economic and financial crisis, economics are once again paying heed to Hayeks thoughts on the repercussions of excessive central bank interventions. Business Cycles, Part II assembles twelve of Hayeks shorter papers on the topic, ranging from 1920s to 1981, his final word on the subject. They include four previously unpublished works.

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F A Hayek (1899-1992) was awarded the Nobel Memorial Prize in Economic Sciences in 1974 and the Presidential Medal of Freedom in 1991. He was one of the leading Austrian economists and political philosophers of the twentieth century. Hansjoerg Klasusinger is Associate Professor in the Department of Economics at WU, Vienna University of Economics and Business.

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