Hayek: A Collaborative Biography

Hayek: A Collaborative Biography

Archival Insights into the Evolution of Economics Series Editor: Robert Leeson This series provides a systematic archival examination of the process by which economics is constructed and disseminated. All the major schools of economics will be subject to critical scrutiny; a concluding volume will attempt to synthesise the insights into a unifying general theory of knowledge construction and influence. Titles include: THE KEYNESIAN TRADITION THE ANTI-KEYNESIAN TRADITION AMERICAN POWER AND POLICY Roger Frantz and Robert Leeson ( editors ) HAYEK AND BEHAVIORAL ECONOMICS HAYEK: A COLLABORATIVE BIOGRAPHY PART I HAYEK: A COLLABORATIVE BIOGRAPHY PART II HAYEK: A COLLABORATIVE BIOGRAPHY PART III HAYEK: A COLLABORATIVE BIOGRAPHY PART IV HAYEK: A COLLABORATIVE BIOGRAPHY PART V HAYEK: A COLLABORATIVE BIOGRAPHY PART VI Leslie Marsh ( editor ) PROPRIETY AND PROSPERITY New Studies on the Philosophy of Adam Smith Forthcoming titles: HAYEK: A COLLABORATIVE BIOGRAPHY PART VII HAYEK AND THE AUSTRIAN SCHOOL Leslie Marsh and Roger Franz ( editors ) HERBERT SIMON Archival Insights into the Evolution of Economics Series Standing Order ISBN: 978-1-4039-9520-9 (Hardback) You can receive future titles in this series as they are published by placing a standing order. Please contact your bookseller or, in case of difficulty, write to us at the address below with your name and address, the titles of the series and the ISBN quoted above. Customer Service Department, Macmillan Distribution Ltd, Houndmills, Basingstoke, Hampshire RG21 6XS, England

Hayek: A Collaborative Biography Part VI Good Dictators, Sovereign Producers and Hayek s Ruthless Consistency Edited by Robert Leeson

Introduction, selection and editorial matter Robert Leeson 2015 Individual chapters Contributors 2015 Softcover reprint of the hardcover 1st edition 2015 978-1-137-47924-2 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No portion of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, Saffron House, 6 10 Kirby Street, London EC1N 8TS. Any person who does any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The authors have asserted their rights to be identified as the authors of this work in accordance with the Copyright, Designs and Patents Act 1988. First published 2015 by PALGRAVE MACMILLAN Palgrave Macmillan in the UK is an imprint of Macmillan Publishers Limited, registered in England, company number 785998, of Houndmills, Basingstoke, Hampshire RG21 6XS. Palgrave Macmillan in the US is a division of St Martin s Press LLC, 175 Fifth Avenue, New York, NY 10010. Palgrave Macmillan is the global academic imprint of the above companies and has companies and representatives throughout the world. Palgrave and Macmillan are registered trademarks in the United States, the United Kingdom, Europe and other countries ISBN 978-1-349-69362-7 ISBN 978-1-137-47925-9 (ebook) DOI 10.1057/9781137479259 This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources. Logging, pulping and manufacturing processes are expected to conform to the environmental regulations of the country of origin. A catalogue record for this book is available from the British Library. A catalog record for this book is available from the Library of Congress.

Contents List of Illustrations Notes on Contributors vi vii 1 Introduction 1 Robert Leeson 2 The Battle of Ideas: Neoliberal Economics and Politics in the 20th Century 73 Philip Plickert 3 Hayek, Orwell, and The Road to Serfdom 152 Andrew Farrant 4 Pigou and the Pigouvian Legacy 183 Rogério Arthmar 5 F. A. Hayek and the Demise of the Socialist System 214 Yuri N. Maltsev 6 Hayek in Australia, 1976 233 Rafe Champion 7 Hayek and Coase Travel East: Privatization and the Experience of Post-Socialist Economic Transformation 249 Kiryl Haiduk 8 Anders Breivik, Fascism and the Neoliberal Inheritance 281 Tad Tietze Index 293 v

List of Illustrations Figures 7.1 Dynamics of crude oil prices, 1970 2013 262 7.2 Foreign bank ownership in the selected transition economies and broad money-to-gdp ratio (left-hand scatter) and the share of non-performing loans in total volume of loans (right-hand scatter), 1996 2009 269 Table s 3.1 Number of persons who were directed under Defence Regulation 58A 168 7.1 Asset share of foreign-owned banks in the selected transition economies, 1996 2009, percentage of total volume of assets 268 vi

Notes on Contributors Rogério Arthmar is Visiting Professor, University of Western Australia Business School, and Associate Professor of Economics, Federal University of Espírito Santo. Rafe Champion is an independent researcher. Andrew Farrant is Assistant Professor of Economics, Dickinson College. Kiryl Haiduk was formerly at the Belarusian Economic and Outreach Center (Minsk, Belarus), Research Center of the Institute for Privatization and Management. Robert Leeson is Visiting Professor of Economics, Stanford University, and Adjunct Professor of Economics, University of Notre Dame Australia. Yuri N. Maltsev is Professor of Economics, Carthage College, Wisconsin, and Senior Fellow, the Ludwig von Mises Institute. Philip Plickert is Economics Editor, Frankfurter Allgemeine Zeitung, and Lecturer in Economics, Goethe-University. Tad Tietze, School of Psychiatry, University of New South Wales, Australia. vii